Check out the companies making the biggest moves midday: CSX — the railroad operator rose more than 3% after it named Steve Angel chief executive , replacing Joe Hinrichs. The management shake-up follows pressure by activist investor Ancora Holdings, which criticized declining efficiency at CSX and pushed for the company to consider mergers and acquisitions as the industry consolidates. Merus — The biotech company popped 36% after it agreed to be acquired by Denmark-based Genmab for $8 billion, or $97 per share , in cash. The deal is expected to close in the first quarter of 2026. Pony AI — The Chinese autonomous vehicle tech company surged 9% after Citi initiated coverage of the stock with a buy rating and a price target that signaled 37% upside from Friday’s close. Citi said China’s “robotaxi sector is at an inflection point.” Galaxy Digital — The digital asset and cryptocurrency company surged almost 10% after agreeing to invest in K Wave Media as part of plan to launch an entertainment tokenization platform with backing from Korean IP companies. Electronic Arts — Shares rose 4.8% after a consortium of investors led by Jared Kushner announced it had struck a $55 billion deal to acquire the videogame maker and take it private, confirming earlier reports. Cannabis stocks — The group surged after President Donald Trump posted a video on Truth Social touting the benefits of cannabinoids for seniors. The AdvisorShares Pure U.S. Cannabis ETF (MSOS) ripped 20% higher. Aurora Cannabis jumped 29%. Lam Research — The semiconductor equipment maker climbed nearly 3% after a Deutsche Bank upgrade to buy from hold. The bank said Lam Research will benefit an improving outlook for wafer fabrication equipment and a valuation that’s somewhat in line with peers. Oracle – The database software company ticked down nearly 1%, as investors continue to ask questions over the sustainability of the AI trade. Oracle is coming off an 8.2% weekly drop, its biggest since the week ended April 4, when it slid nearly 9%. AppLovin — Shares rose 8.2% after Morgan Stanley hiked its price target for the mobile technology company to $750 from $480. “On 10/1 APP will launch its self-serve tool for non-gaming. This is a key catalyst to grow its ad business and prove that it can tap into billions of ad dollars outside the game industry,” the bank said. Intel — The chipmaker fell 2%, losing some steam after its massive runup that pushed the stock into overbought territory. Intel is up roughly 80% this year. It also has a relative strength index at 80, meaning it’s vulnerable to a pullback. Applied Materials — Shares rose 2% after the company disclosed it entered a 364-day revolving credit facility with Bank of America worth $2 billion. — CNBC’s Sarah Min, Alex Harring, Liz Napolitano, Christina Cheddar-Berk, Scott Schnipper, Michelle Fox Theobald contributed reporting.