11:46 AM EDT, 05/06/2025 (MT Newswires) -- All three major US stock indexes were down in late-morning trading Tuesday as the Federal Reserve's rate-setting committee kicked off its two-day meeting with a decision scheduled for Wednesday.

The European Union plans to tack on additional tariffs targeting 100 billion euros ($113 billion) worth of US goods if ongoing trade talks fail to produce a satisfactory result for the bloc, Bloomberg reported Tuesday, citing people familiar with the matter.

In company news, DoorDash ( DASH ) reported Q1 earnings Tuesday of $0.44 per share, swinging from a loss of $0.06 a year earlier and above the consensus estimate of analysts surveyed by FactSet calling for $0.39. First-quarter revenue was $3.03 billion, up from $2.51 billion a year earlier but below the FactSet consensus of $3.1 billion. The company said it reached an agreement for a cash acquisition of the entire share capital of Deliveroo for 2.9 billion British pounds ($3.86 billion). DoorDash ( DASH ) also said it has agreed to acquire SevenRooms for $1.2 billion in an all-cash deal that is expected to close in H2. Shares of DoorDash ( DASH ) were down 7.4% around midday.

Palantir Technologies ( PLTR ) reported Q1 adjusted earnings late Monday of $0.13 per share, up from $0.08 a year earlier and in line with the consensus estimate of analysts surveyed by FactSet. First-quarter revenue was $883.9 million, up from $634.3 million a year ago and above the FactSet consensus of $862.2 million. For Q2, the company said it expects revenue of $934 million to $938 million, above the FactSet consensus of $899.4 million. For full-year 2025, Palantir ( PLTR ) now expects revenue of $3.89 billion to $3.90 billion, up from prior guidance of $3.74 billion to $3.76 billion and above the FactSet consensus of $3.75 billion. Palantir ( PLTR ) shares were down 12%.

Ford Motor ( F ) reported Q1 non-GAAP earnings late Monday of $0.14 per diluted share, down from $0.49 a year earlier but above the FactSet consensus of $0.00. First-quarter revenue was $40.66 billion, down from $42.78 billion a year earlier but above the FactSet consensus of $38.02 billion. The company said it is withdrawing its 2025 guidance, citing "material near-term risks," namely those stemming from tariffs and trade. Ford estimates tariffs will drive a net adverse impact of roughly $1.5 billion on its full-year adjusted earnings before interest and taxes. Ford shares were up 3.6%.

Ferrari (RACE) reported Q1 adjusted earnings Tuesday of 2.30 euros ($2.60) per diluted share, up from 1.95 euros a year earlier and above the FactSet consensus estimate of 2.28 euros. First-quarter net revenue was 1.79 billion euros, up from 1.59 billion euros a year ago and above the FactSet consensus of 1.77 billion euros. The company said it continues to expect 2025 adjusted EPS of at least 8.60 euros on net revenue of over 7 billion euros. Analysts polled by FactSet expect adjusted EPS of 8.95 euros on revenue of 7.18 billion euros. Ferrari said the outlook "is subject to a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins), in relation to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA." Ferrari shares were up 1.1%.

Constellation Energy ( CEG ) reported Q1 adjusted operating earnings Tuesday of $2.14 per share, up from $1.82 a year earlier but below the FactSet consensus of $2.18. First-quarter operating revenue was $6.79 billion, up from $6.16 billion a year ago and above the FactSet consensus of $5.56 billion. The company reaffirmed it full-year adjusted operating EPS guidance of $8.90 to $9.60, compared to the FactSet estimate of $9.44. Constellation shares were up 9.1%.

Qatar Airways is preparing to order around 100 Boeing ( BA ) widebody jets with an option for more ahead of President Donald Trump's visit to the Middle East, which is set to begin on May 13, Bloomberg reported Tuesday, citing people familiar with the deliberations. Separately, Airbus CEO Guillaume Faury told reporters in Paris that the EU should impose reciprocal tariffs on Boeing ( BA ) if talks fail to lift US tariffs on the aerospace industry, Bloomberg reported Tuesday. Boeing ( BA ) shares were down 0.3%.

Uber Technologies ( UBER ) said Tuesday it has entered into an agreement to acquire an 85% controlling stake in Trendyol GO, Trendyol Group's online meal and grocery delivery business in Turkey, for about $700 million in cash. Uber ( UBER ) shares were down 0.1%.

Tesla (TSLA) registered 512 vehicles in April in the UK, a 62.1% drop from the same month last year, the Society of Motor Manufacturers and Traders said Tuesday. Tesla shares were down 2.1%.

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