Boeing, Spirit Aero, American, Nvidia, Apple, Axonics, Ambrx, and More Market Movers

Boeing
declined 8% after the Federal Aviation Administration ordered the temporary grounding of 171 Boeing 737 MAX 9 planes after a MAX 9 operated by
Alaska Air
lost a section of its fuselage midair Friday evening. Alaska and
United Airlines
 said they were grounding their MAX 9 jets.
Boeing
said in an emailed statement to Barron’s that it agreed with and supported the FAA’s decision to require immediate inspections of the jets.
Alaska Air
fell 0.2%, and United was up 2.9%.
Spirit AeroSystems,
the Boeing supplier that was responsible for installing the emergency-door configuration involved in Friday’s incident, dropped 11%.

American Airlines
was upgraded to Overweight from Equal Weight at
Morgan Stanley
 and the price target was left unchanged at $20. Analyst Ravi Shanker said he remains constructive on U.S. airlines in 2024. He said he believes leisure demand strength will continue and “Transpacific and corporate normalization will serve as additional tailwinds.” American rose 7.2% to $14.58.

Nvidia
rose 6.4% to $522.53, putting shares of the chip maker on track for an all-time closing high. The company on Monday announced expanded artificial-intelligence partnerships with
Amgen
and
Recursion Pharmaceuticals.

Apple
rose 2.4% after the tech company said its
Apple
Vision Pro mixed-reality headset would be available at all U.S. stores, and the online store, beginning Feb. 2. Pre-orders start Jan. 19. The stock has closed lower for the first four sessions of the year.
The New York Times
on Friday reported the Justice Department was in the “late stages” of investigating the company and could “file a sweeping antitrust case” in the first half of the year focused on Apple’s strategies for protecting its iPhone business.

Merck
will acquire cancer drugmaker
Harpoon Therapeutics
in a deal valued at $680 million. Merck will pay $23 in cash for each Harpoon share, a 118% premium to Harpoon’s closing price Friday of $10.55. Harpoon shares jumped 112% to $22.39. Merck gained 0.1%.

Axonics
surged 21% to $69.36 after
Boston Scientific
 agreed to buy the medical technology company for $71 a share, a 23.3% premium to
Axonics
closing price Friday of $57.57.
Boston Scientific
fell slightly.

Johnson & Johnson
 agreed to acquire
Ambrx Biopharma,
a clinical-stage biopharmaceutical company, in an all-cash deal with a total equity value of about $2 billion.
Ambrx
shares jumped 102% to $27.47. J&J was up 0.3%.

Twilio
rose 6.7% after co-founder and Chief Executive Jeff Lawson said he was stepping down at the enterprise-communications software company.
Twilio
also said it expects to report fiscal fourth-quarter earnings and revenue higher than its previous guidance.

Arista Networks
rose 6.5% to $245.85 after analysts at Melius Research upgraded shares of the provider of networking equipment to Buy from Hold with a price target of $300, up from $210.

U.S.-listed shares of
Shell
fell 1.7% after the London-based energy giant said its fourth-quarter earnings would include up to $4.5 billion in impairments that were “primarily driven by macro and external developments as well as portfolio choices,” including Singapore chemicals and products assets that the company has has been trying to sell.

American Eagle Outfitters
said it expects fourth-quarter revenue to rise low double digits and anticipates fourth-quarter operating profit of about $130 million, up from previous guidance of $105 to $115 million. The retailer said the guidance boost was the ”result of record holiday sales and strong merchandise margins.” The stock rose 6.2%.

Write to Joe Woelfel at [email protected]