All three major US indexes were down around midday trading Monday, as Wall Street got off to a slow start ahead of another consequential week of corporate earnings reports.

In company news, Walt Disney's (DIS) board of directors named James Gorman chairman, effective Jan. 2, 2025, the company said Monday. Gorman is currently executive chairman at Morgan Stanley (MS) but will step down from that role on Dec. 31. At Disney, Gorman will succeed Mark Parker, who is leaving the board after nine years of service, Disney said. Gorman said Disney expects to announce a new CEO in early 2026. Shares of Disney were down 0.9% around midday.

Southwest Airlines (LUV) and Elliott Investment Management may be nearing a truce after a public battle that has lasted over four months, Bloomberg reported Monday, citing people familiar with the matter. The airline and the activist investor have been discussing a possible settlement that would avoid a proxy fight for control of Southwest's board, the people reportedly told Bloomberg. Southwest shares were down nearly 2%.

MetLife (MET) is in talks to buy PineBridge Investments' non-China assets that could be valued at $1 billion to $1.5 billion, Bloomberg reported Monday, citing people familiar with the matter. MetLife shares were down 0.6%.

BHP Group (BHP) is facing a liability trial that began Monday in the UK over the Mariana dam collapse in Brazil. The lawsuit is seeking up to 36 billion pounds ($46.90 billion) in damages from the 2015 collapse of the dam, owned by a joint venture between BHP and Vale, which released toxic sludge that killed 19 people, polluted the Doce River, and left thousands homeless, Reuters reported Monday. BHP shares were down 1.5%.

Boeing's (BA) striking machinists will vote Wednesday on a new contract proposal that includes a 35% pay increase over four years, IAM District 751 said Saturday. The latest proposal includes a $7,000 ratification bonus, reinstated incentive plan and enhanced 401(k) contributions, including a one-time $5,000 contribution and up to 12% in employer contributions. Boeing shares were up nearly 3%.

AT&T (T) said Friday its employees represented by the Communications Workers of America, or CWA, union have voted to ratify two collective bargaining agreements. The company said the deals include a five-year agreement with CWA District 3 in the Southeast and a four-year agreement with CWA District 9 in the West. Shares of the company were up 0.1%.

Atlantic Union Bankshares (AUB) agreed to acquire Sandy Spring Bancorp (SASR) in an all-stock deal worth about $1.6 billion. Upon completion, the merged entity will be the largest regional bank headquartered in the lower Mid-Atlantic. Under the terms of the deal, Sandy Spring investors will receive 0.9 shares of Atlantic Union stock for each share owned, the banks said in a joint statement Monday. Atlantic Union shares were down 5.7%, while those of Sandy Spring were down 1.3%.

Price: 96.33, Change: -0.95, Percent Change: -0.98