12:12 PM EDT, 06/24/2024 (MT Newswires) -- The Dow Jones Industrial Average and the S&P 500 were both up in late-morning Trading Monday, while the tech-heavy Nasdaq Composite was down, driven in part by the ongoing fall of Nvidia ( NVDA ) , which was down nearly 5% after declining around 4% last week.

In company news, Apple's ( AAPL ) steering rules in its App Store marketplace are in breach of the European Commission's new digital competition law, the regulator said Monday, as it also opened a second probe into contract terms for developers. The European Union's executive arm found that the technology giant prevents app developers from informing consumers about alternative channels for offers and content outside its main app store, free of cost. The practice is an infringement of the commission's Digital Markets Act, which launched in March and seeks to ensure a level playing field in the digital sector. Elsewhere, Meta Platforms ( META ) has held discussions about integrating its generative AI model into Apple Intelligence, the new AI system for iPhones and other devices, The Wall Street Journal reported Sunday, citing people familiar with the matter. Shares of Apple ( AAPL ) were up 2.3% in midday trading, while those of Meta were up 1.4%.

US prosecutors recommended that the US Justice Department file criminal charges against Boeing ( BA ) after discovering in May that the company violated the 2021 settlement related to two fatal crashes involving the 737 Max jet, Reuters reported Monday, citing two people familiar with the matter. The DOJ needs to decide whether to file charges by July 7, according to the report. Shares of Boeing ( BA ) were up 1.5%.

Vista Outdoor ( VSTO ) said Monday it received an updated bid of $2 billion from Czechoslovak Group for its ammunition and gun business after another party with a higher offer pulled out of the race last week. CSG increased its offer from $1.96 billion, upping the per-share consideration to $18 from $16. The Kinetic Group, which operates shooting sports brands such as Remington and Speer, entered into the amended merger agreement with CSG on Sunday. Shares of Vista were up 2.7%.

Sonoco Products ( SON ) will acquire metal packaging company Eviosys from private equity firm KPS Capital Partners for roughly $3.90 billion. The cash-free, debt-free deal will expand Sonoco's packaging operations in Europe, the Middle East and Africa thanks to Eviosys' 44 manufacturing facilities and 6,300 employees, Sonoco said in a statement Monday. Sonoco expects $100 million of potential synergies over the next 24 months from the deal. Sonoco expects Eviosys revenue in 2024 to total about $2.5 billion and adjusted earnings before interest, taxes, depreciation and amortization to total about $430 million. Sonoco shares were down 3.8%.

United Parcel Service ( UPS ) has agreed to offload its freight brokerage business, Coyote Logistics, to RXO (RXO) for about $1.03 billion. The sale is part of UPS' efforts to streamline its operations and focus on its core business, the company said Sunday in a statement. The deal, which requires the approval of regulators, is expected to close by the end of the year. Shares of UPS were up 1.4%, while those of RXO were up 23.5%.

KKR & Co ( KKR ) is looking for about $20 billion from investors for its new North America private equity fund, Reuters reported Monday, citing people familiar with the matter. The new fund is called North America Fund XIV and began marketing to investors in June, Reuters reported, citing the sources. It is targeting a net internal rate of return percentage of at least high-teens and a steady annual deployment of 20% to 25% of its amassed capital, the sources reportedly told Reuters. Shares of KKR were up 0.4%.

Riot Platforms ( RIOT ) said Monday it has requested a special meeting of Bitfarms ( BITF ) shareholders to reconstitute the Bitfarms ( BITF ) board. Riot, which is Bitfarms' ( BITF ) largest shareholder, also said it has formally withdrawn its previous proposal to acquire all Bitfarms ( BITF ) common shares for $2.30 per share "and stands ready to engage and negotiate with a reconstituted Bitfarms Board to pursue a mutually beneficial combination of Bitfarms ( BITF ) and Riot." Shares of Riot were down 1.5%, while those of Bitfarms ( BITF ) were down 8.8%.

Broadcom ( AVGO ) is working with ByteDance to develop an advanced AI processor to ensure a stable supply of high-end chips amid US-China tensions, according to Monday media reports. Broadcom ( AVGO ) shares were down 2.2%.

A hacking group called BlackSuit is responsible for the ransomware attack on CDK Global (CDK) that has brought car sales nationwide to a standstill, Bloomberg reported, citing Allan Liska, a threat analyst at security firm Recorded Future.

General Motors Financial, the finance subsidiary of General Motors ( GM ) , said Monday it has withdrawn its application for federal deposit insurance after a three-year process with the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions. Shares of GM were up 1.9%.

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