Stocks Making Headlines in Midday Trading

American Airlines shares slipped less than 1%, recovering from earlier losses, after the airline temporarily grounded all of its flights due to a technical issue. Broadcom added 2%, extending its December rally. Shares have surged more than 46% this month, propelling its 2024 gain above 112%.

Shares of some big bank stocks rose more than 1% amid news that a group of banks and business groups are suing the Federal Reserve over the annual stress tests, saying that it 'produces vacillating and unexplained requirements and restrictions on bank capital.' Citigroup, JPMorgan and Goldman Sachs shares gained more than 1% each. Arcadium Lithium shares rose more than 4% after the company announced that its shareholders have approved the $6.7 billion sale to Rio Tinto. The deal is expected to close in mid-2025. International Seaways surged 8% after an announcement that the company would be added to the S&P Small Cap 600 index, effective on Dec. 30. The company will replace Consolidated Communications, which is soon to be acquired. Crypto stocks rose as the cryptocurrency gave back recent losses, amid a climb in tech names broadly. Crypto services provider Coinbase gained almost 3% and bitcoin proxy MicroStrategy gained more than 5%. Miners Riot Platforms and IREN gained 6% and 4%, respectively. U.S. Steel stock hovered near the flatline amid news that President Joe Biden will decide on the fate of its proposed acquisition by Japan's Nippon Steel after a government panel failed to reach a decision. Apple shares gained 0.9% to notch a new all-time high. The stock has rallied nearly 34% year to date

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