Check out the companies making headlines in midday trading:
Super Micro Computer — Shares advanced more than 30% after a special committee said it found “no evidence of misconduct” on the part of the artificial intelligence server maker.
Intel — The chipmaker gained 4% following the retirement of CEO Pat Gelsinger. Executives said David Zinsner and Michelle Johnston Holthaus will serve as interim co-CEOs. Intel shares have had a rocky year, off roughly 50% in 2024.
Tesla — The electric vehicle stock gained more than 3% after a Roth MKM upgrade to buy from neutral. The firm cited President-elect Donald Trump’s close ties with CEO Elon Musk as a positive catalyst for Tesla’s brand.
Gap — Shares of the clothing retailer moved nearly 7% higher after receiving an upgrade to overweight at JPMorgan. The firm cited a multiyear growth outlook for the company as well as a strong start to the holiday shopping season.
Stellantis — The world’s fourth-largest carmaker saw shares falling more than 6% after CEO Carlos Tavares unexpectedly resigned amid increasingly “different views” between the executive and the board of directors. Stellantis said its board accepted Tavares’ resignation on Sunday. His departure is effective immediately.
Source: https://www.cnbc.com/2024/12/02/stocks-making-the-biggest-moves-midday-smci-tsla-intc-stla.html