Here’s a look at the companies making headlines in midday trading: Super Micro Computer — shares rose after a special committee said it found “no evidence of wrongdoing” at the maker of artificial intelligence servers More than 30%. Intel – The chipmaker’s shares rose 4% after Chief Executive Pat Gelsinger retired. David Zinsner and Michelle Johnston Holthaus will serve as interim co-executives, executives said. Intel shares have had a tumultuous year, falling about 50% in 2024. The company said President-elect Trump’s close relationship with Chief Executive Elon Musk is a positive catalyst for the Tesla brand. Gap — Shares of the clothing retailer rose nearly 7% after JPMorgan upgraded the company to “overweight.” The company cited the company’s multi-year growth prospects and a strong start to the holiday shopping season. Stellantis — The world’s fourth-largest automaker’s shares fell more than 6% after Chief Executive Carlos Tavares unexpectedly resigned amid growing “disagreements” between top executives and the board. Stellantis said its board accepted Tavares’ resignation on Sunday. His departure is effective immediately. Cleveland-Cliffs, Commercial Metals Company — Shares of Cleveland-Cliffs rose 2% after Goldman Sachs initiated a buy rating on the steelmaker. Analyst Mike Harris said cyclical and structural factors, including Trump’s views on trade, could help earnings growth in the broader industry. Goldman Sachs also gave a buy rating to commercial metals for the first time. Shares rose 2%. Cloudflare, Okta – Cybersecurity stocks gained around 6% and 4% respectively after Morgan Stanley upgraded their ratings to overweight from equal weight. Morgan Stanley said the stocks present “exceptional opportunities.” Dana — Shares of the auto parts maker surged 14% after Barclays upgraded its shares from equal weight to overweight. Barclays said the stock had potential after confirming plans to sell its off-highway business. —CNBC’s Yun Li, Sarah Min, Sean Conlon and Alex Harring contributed reporting.
