12:05 PM EDT, 04/29/2024 (MT Newswires) -- Wall Street's major market indexes were all up in late-morning trading as investors prepared for a Federal Open Market Committee meeting this week.

Banco Bilbao Vizcaya Argentaria ( BBVA ) reported Q1 adjusted earnings Monday of 0.37 euro ($0.40) per share, up from 0.30 euro per share a year earlier. Two analysts polled by Capital IQ expected 0.33 euro per share. First-quarter gross income was 8.22 billion euros, up from 6.96 billion euros a year earlier and above the 7.92 billion euros forecast by analysts surveyed by Capital IQ. BBVA shares were trading up 0.9% near noon.

ON Semiconductor (ON) reported fiscal Q1 non-GAAP earnings Monday of $1.08 per diluted share, down from $1.19 a year earlier and above the Capital IQ analyst consensus estimate of $1.05. Revenue for the most recent quarter was $1.86 billion, down from $1.96 billion a year ago and above the $1.85 forecast by analysts surveyed by Capital IQ. The company said it expects fiscal Q2 non-GAAP EPS of $0.86 to $0.98 on revenue of $1.68 billion to $1.78 billion. Analysts surveyed by Capital IQ expect normalized EPS of $1.01 on revenue of $1.83 billion. ON shares were up nearly 4% around midday.

Tesla (TSLA) reached an agreement with search engine Baidu (BIDU) to allow it to deploy its automated driving system in China, news outlets reported, citing unnamed sources. Financial terms of the deal were not disclosed. Separately, the US Supreme Court on Monday rejected Tesla Chief Executive Elon Musk's attempt to challenge the terms of an agreement he struck with the Securities and Exchange Commission that required a lawyer to review some of his social media posts, according to media reports.

Paramount (PARA) shareholders David Ellison and the Redstone family offered concessions to make a change of control at the company more appealing to other investors, Bloomberg News reported, citing people familiar with the matter. Meanwhile, Paramount is expected to fire Chief Executive Bob Bakish by Monday after a clash with Shari Redstone over the company's merger talks with Skydance, according to media reports. Paramount shares were up 4.1%.

Norfolk Southern (NSC) activist shareholder Ancora Holdings said Monday that independent proxy advisory firm Glass Lewis has recommended that shareholders elect six of its seven board nominees at the May 9 annual shareholders meeting. Shares of Norfolk Southern were up 0.5%.

Blackstone (BX) is set to acquire the UK's Hipgnosis Song Fund for $1.57 billion in cash, the companies said Monday. The boards of directors of Hipgnosis and Blackstone subsidiary Lyra Bidco said in a regulatory filing that they agreed to a $1.30 per share price that is 4% above the $1.25 price offered by rival Concord Chorus and 48.1% over the company's April 17 closing price. Shares of Blackstone were down 0.8%.

Ford Motor's (F) hands-free driver assistance system, BlueCruise, is facing a preliminary investigation by the US National Highway Traffic Safety Administration after the regulator was notified of two collisions involving Ford cars using the technology, according to a filing made public by the NHTSA on Monday. Ford shares were down 1.4%.

Boeing (BA) received orders of about $77 billion for its dollar bond sale to raise funds for general purposes, Bloomberg reported, citing people familiar with the matter. The company is seeking around $8 billion for the sale, Bloomberg reported, citing a different person with knowledge of the matter. Shares of the company were up 3% near noon.

Price: 11.68, Change: +0.10, Percent Change: +0.82