Check out the companies making headlines in midday trading. Boeing — Shares ticked up 1.3% after the aerospace company said earlier on Monday that CEO David Calhoun would step down at the end of 2024. Board chairman Larry Kellner will also step down, the company added. Masimo — The medical technology company climbed 3.3. On Friday, Masimo announced its board of directors has authorized management to evaluate a spinoff 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 initiated coverage of the high-flying name. Analyst Samik Chatterjee issued Super Micro a rating of overweight and gave it a price target of $1,150, implying about 18% upside from Friday’s close. Cleveland-Cliffs — The steel producer traded higher by 1% after announcing it won award negotiations for funding from the Department of Energy. Cleveland-Cliffs can get as much as $575 million for projects focused on decarbonization technology at facilities in Ohio and Pennsylvania. Semiconductor stocks — Chipmakers climbed on Monday, with Micron Technology adding 6.2%, Nvidia jumping 1% and Arm adding 3.1%. The VanEck Semiconductor ETF (SMH) ticked down 0.2%. Disney — The entertainment giant added more than 3% after Barclays upgraded it to overweight and noted that shares have higher to go. Separately, Nelson Peltz’s Trian Fund Management withheld its 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 shares to outperform from in line. The firm cited Foot Locker’s turnaround efforts and growth reinvestments. Rivian — Shares of the struggling automaker fell 1.4% after a downgrade to neutral from buy at Mizuho. The electric vehicle stock is already down more than 50% for the year. GameStop — Shares popped 15% a day ahead of the video game company’s fourth-quarter earnings. Wedbush on Monday maintained its underperform rating on the meme stock, but said GameStop’s continued cost discipline and mix shift toward higher-margin software could likely support its profitability during the quarterly period. Digital World Acquisition Corp. — The special purpose acquisition company leapt 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 start trading Tuesday under the ticker DJT. United Airlines — Shares dropped 3.4% after Reuters reported that the U.S. Federal Aviation Administration would step up scrutiny of United Airlines following recent safety incidents. — CNBC’s Alex Harring, Jesse Pound, Hakyung Kim, Pia Singh and Sarah Min contributed reporting.
Information About Los Angeles Financial Times
Sunday,
May
19,
2024
9:12PM
-
When you don’t plan ahead, your life and finances suffer – Daily News
When you don’t plan ahead, your life and finances suffer – Daily News
-
The year of AI PCs
The year of AI PCs
-
Stocks making the biggest moves premarket: GameStop, Reddit and more
Stocks making the biggest moves premarket: GameStop, Reddit and more
-
What’s trending in industrial space? Automation in towering cold storage boxes – Daily News
What’s trending in industrial space? Automation in towering cold storage boxes – Daily News
Your number one source of all things financial.
Popular
- When you don’t plan ahead, your life and finances suffer – Daily News & Comments Off on When you don’t plan ahead, your life and finances suffer – Daily News
- New law expands California’s homestead equity protection to $600,000 – Daily News & Comments Off on New law expands California’s homestead equity protection to $600,000 – Daily News
- Heroes on the Frontlines in Riverside Get COVID-19 Vaccine – NBC Los Angeles & Comments Off on Heroes on the Frontlines in Riverside Get COVID-19 Vaccine – NBC Los Angeles
- Why Markets Boomed in a Year of Human Misery & Comments Off on Why Markets Boomed in a Year of Human Misery
- LACo COVID Deaths Set New Records, Hospital Crunch Worsens – NBC Los Angeles & Comments Off on LACo COVID Deaths Set New Records, Hospital Crunch Worsens – NBC Los Angeles
- ‘Brink of Catastrophe.’ Once a Model, California Now Struggles to Tame COVID-19 – NBC Los Angeles & Comments Off on ‘Brink of Catastrophe.’ Once a Model, California Now Struggles to Tame COVID-19 – NBC Los Angeles
Los Angeles Financial times
Copyright © 2024 Los Angeles Financial times