Here’s a look at the companies making headlines in midday trading: American Airlines — Shares of American Airlines fell less than 1%, adding to previous losses as the airline temporarily grounded all flights due to technical issues Recover. Broadcom — The semi’s stock rose 2%, extending gains in December. Shares have soared more than 46% this month, pushing 2024 gains to more than 112%. LARGE BANKS – Shares of some large bank stocks rose more than 1% on news that a group of banks and business groups are suing the Federal Reserve over annual stress tests, which they say “create wobbly and unexplained requirements and restrictions on bank capital.” Citigroup, JPMorgan Chase and Goldman Sachs all rose more than 1%. Arcadium Lithium — Shares of Arcadium Lithium rose more than 4% after the company announced shareholders had approved a $6.7 billion sale to Rio Tinto. The transaction is expected to close in mid-2025. International Seaways — The energy transportation provider soared 8% after announcing it would be included in the S&P SmallCap 600 index starting Dec. 30. CRYPTO STOCKS – Cryptocurrencies recouped recent losses, with stocks rising relative to the price of Bitcoin as technology stocks rose broadly and cryptocurrencies recouped recent losses. Crypto services provider Coinbase rose nearly 3%, and Bitcoin agency MicroStrategy gained more than 5%. Miners Riot Platforms and IREN gained 6% and 4% respectively. U.S. Steel – Shares of the steelmaker hovered flat on news that U.S. President Joe Biden will decide the fate of Japan’s Nippon Steel Corp.’s proposed takeover of the company after a government panel failed to reach a decision. nearby. Apple — Apple shares rose 0.9% to hit a new all-time high. The stock has gained nearly 34% so far this year. —CNBC’s Sean Conlon, Lisa Han, Tanaya Macheel and Alex Harring contributed reporting.
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