Check out the companies making headlines in midday trading. Boeing – Shares rose 1.3% after the airline said earlier Monday that CEO David Calhoun would step down at the end of 2024. The company added that Chairman Larry Kellner would also step down. Masimo – The medical technology company rose 3.3. Masimo announced on Friday that its board of directors has authorized management to evaluate a spin-off of its consumer business. Wells Fargo upgraded the stock to overweight from equal weight in light of the news. Super Micro Computer – The chip stock jumped nearly 8% after JPMorgan began covering the high-flying name. Analyst Samik Chatterjee issued Super Micro an Overweight rating and gave it a price target of $1,150, which implies an upside of about 18% from Friday's close. CLEVELAND CLIFFS – The steel producer's trading rose 1% after it was declared a winner in Department of Energy grant negotiations. Cleveland-Cliffs could get up to $575 million for projects focused on carbon removal technology at facilities in Ohio and Pennsylvania. Semiconductor Stocks – Shares of chipmakers rose Monday, with Micron Technology adding 6.2%, Nvidia jumping 1%, and Arm rising 3.1%. The VanEck Semiconductor ETF (SMH) fell 0.2%. Disney – The entertainment giant added more than 3% after Barclays upgraded it to overweight and indicated shares would rise. Separately, Nelson Peltz's Trian Fund Management withheld votes from Disney CEO Bob Iger amid a proxy battle between the activist investor and the media juggernaut. Foot Locker – Shares jumped 6.1% after Evercore upgraded its stock to outperform. The company cited Foot Locker's turnaround efforts and reinvestment in growth. Rivian – Shares of the struggling automaker fell 1.4% after Mizuho downgraded its rating to neutral from buy. Electric vehicle stocks have already fallen more than 50% this year. GameStop – Shares rose 15% daily ahead of the video game company's fourth-quarter earnings. Wedbush on Monday maintained its underperform rating on meme stocks, but said GameStop's continued cost discipline and a mixed shift toward higher-margin software could likely support its profitability during the quarter. Digital World Acquisition Corp. The SPAC jumped 35% after shareholders approved a merger with former President Donald Trump's social media company Trump Media & Technology Group, which owns Truth Social. Trump Media could begin trading on Tuesday under the symbol DJT. United Airlines – Shares fell 3.4% after Reuters reported that the US Federal Aviation Administration will step up scrutiny of United Airlines in the wake of recent safety incidents. — CNBC's Alex Haring, Jesse Pound, Hakyung Kim, Pia Singh and Sarah Min contributed reporting.
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