Check out the companies making headlines midday Monday:
Boeing — Shares of Boeing dropped 6.83 percent on Monday after an Ethiopian Airlines flight crashed on Sunday killing all 157 people on board, raising concerns over the safety of Boeing’s 737 MAX 8 jet. This crash comes just five months after another plane of the same model crashed in Indonesia killing 189 people. The 737 MAX 8 jet is one of Boeing’s top-selling airplanes.
Apple — Apple shares climbed 3.43 percent after Bank of America upgraded them to buy from neutral, saying that the stock presents an investment “opportunity“. The bank also raised its 12-month price target for Apple from $180 to $210.
Nvidia — Shares of Nvidia rose 4.86 percent after the semiconductor company announced it was buying Mellanox Technologies, an Israeli chip designer, for $6.8 billion. This will be Nvidia’s biggest acquisition ever and is expected to bolster its data center business.
Facebook — Shares of the social networking site were up 1.92 percent after being upgraded by Nomura Instinet to buy from neutral. The firm cited Facebook’s faster-than-expected transition to its Stories format and focus on messaging. Concerns over engagement trends have also eased, Nomura Instinet said.
Spirit AeroSystems, Triumph Group, Hexcel — Shares of aerospace suppliers all fell at least 2 percent, tracking Boeing’s decline. They all have double digit exposure to Boeing’s 737 Max program. Spirit, which specializes in building aircrafts’ main bodies, is on pace for its worst day of trading since February 2018.
Care.com — Shares of the Internet marketplace for babysitters and caregivers dropped 15.6 percent in midday trading after The Wall Street Journal reported the company put undue pressure on families to check the backgrounds of caregivers. The stock is on pace for its worst day of trading since early October.
Caesars Entertainment — Shares of the casino operator rose more than 1 percent after a regulatory filing revealed activist investor Carl Icahn increased his stake in the company to 17.75 percent from 15.53 percent of shares outstanding.
JetBlue Airways — The airline fell as much as 1 percent after Barclays downgraded its stock to equal weight from overweight, noting its “cost performance has yet to meaningfully improve.” The stock later recovered, however, trading 0.9 percent higher.
—CNBC’s Nadine El-Bawab, JR Reed and Jessica Bursztynsky contributed to this report.