12:07 PM EDT, 10/24/2024 (MT Newswires) -- The S&P 500 Index and the Nasdaq Composite were both up in midday trading Thursday after Tesla (TSLA) reported positive earnings after market close on Wednesday. The Dow Jones Industrial Average was down, driven in part by downbeat earnings from IBM (IBM).

In company news, Tesla reported Q3 non-GAAP earnings late Wednesday of $0.72 per diluted share, up from $0.66 a year earlier and above the Capital IQ consensus analyst estimate of $0.60. Third-quarter revenue was $25.18 billion, up from $23.35 billion in the year-ago period but below the Capital IQ consensus of $25.76 billion. Tesla said it expects "slight growth" in vehicle deliveries this year, compared with prior guidance for vehicle volume to be "notably lower" annually. Shares of the company jumped almost 19% at midday.

Striking workers rejected Boeing's ( BA ) latest labor contract proposal late Wednesday, which offered a 35% general wage increase over a four-year period, an increase from the 25% hike in the original offer. The deal, which 64% of the voters rejected, also included improved terms for workers' ratification bonuses and larger Boeing ( BA ) contributions to retirement plans. Boeing ( BA ) shares were down 2.2%.

Southwest Airlines ( LUV ) said Thursday it has appointed six new independent directors to its board in connection with agreements reached with activist investor Elliott Investment Management. David Cush, Sarah Feinberg, Dave Grissen, Gregg Saretsky, Patricia Watson and Pierre Breber were all appointed to the Southwest ( LUV ) board, effective Nov. 1. Southwest ( LUV ) shares were down 3.6%.

TKO Group Holdings ( TKO ) said Thursday it has reached a definitive agreement to acquire Professional Bull Riders, On Location and IMG from Endeavor Group Holdings ( EDR ) in an all-equity deal valued at $3.25 billion. TKO also said its board authorized a share buyback program of up to $2.0 billion, as well the launching of a quarterly cash dividend program through which TKO Class A shareholders will receive their pro rata share of $75 million in quarterly distributions to be made by TKO Operating Company. TKO shares were down 8.9%, while those of Endeavor were down 1.1%.

Keurig Dr Pepper ( KDP ) said Thursday it has agreed to acquire Ghost, a lifestyle sports nutrition business, starting with a 60% stake for $990 million. Keurig said it plans to acquire the remaining 40% by 2028 and consolidate Ghost's financial results upon closing. Keurig shares were down 4.8%.

Price: 253.33, Change: +39.68, Percent Change: +18.57