Check out the companies making headlines in midday trading: American Airlines – Shares rose 0.6%, recovering from earlier losses, after the airline temporarily grounded all its flights due to a technical issue. Broadcom – The stock added nearly 3.2%, extending its December rally. Shares are up more than 46% this month, pushing their 2024 gains above 112%. Big Banks – Shares of some big bank stocks rose about 2% on news that a group of banks and business groups are suing the Federal Reserve over annual stress tests, saying they “result in volatile and unjustified requirements and restrictions on banks' capital.” Citigroup and JPMorgan shares rose about 2% each, while Goldman Sachs jumped 2.1%. Arcadium Lithium – Shares rose nearly 6% after the company announced that its shareholders approved a $6.7 billion sale to Rio Tinto. The deal is expected to close in mid-2025. International Marine Lines – The energy transportation provider's stock rose 9% after announcing the company's addition to the S&P SmallCap 600 Index, effective December 30. The company will replace Consolidated Communications, which will soon be acquired. Cryptocurrency Stocks – Shares of stocks linked to the price of Bitcoin rose as the cryptocurrency gave up recent losses amid a broad rally in technology names. Crypto services provider Coinbase rose 4.3% and Bitcoin proxy MicroStrategy gained more than about 8%. Shares of Miners Riot Platforms and IREN rose 8% and 5%, respectively. US Steel – The steel producer's stock rose about 2% on news that President Joe Biden will decide the fate of a proposed takeover by Japan's Nippon Steel after a government committee failed to reach a decision. Apple – Apple shares rose 1.2% to reach a new all-time high. The stock is up about 34% year to date. — CNBC's Sean Conlon, Lisa Hahn, Tanaya Machel and Alex Haring contributed reporting.
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Stocks making the biggest moves at midday: AAL, AVGO, JPM
