11:45 AM EDT, 07/18/2025 (MT Newswires) -- The Dow Jones Industrial Average was down in late-morning trading Friday, while the S&P 500 and Nasdaq Composite were basically flat, as more large-cap companies post earnings results.

In company news, Netflix ( NFLX ) reported Q2 earnings late Thursday of $7.19 per diluted share, up from $4.88 a year earlier and above the FactSet consensus analyst estimate of $7.07. Second-quarter revenue was $11.08 billion, up from $9.56 billion a year ago and above the FactSet consensus of $11.06 billion. For Q3, the company said it expects EPS of $6.87 on revenue of $11.53 billion. Analysts polled by FactSet expect $6.69 EPS on $11.28 billion in revenue. For full-year 2025, Netflix ( NFLX ) lifted its guidance range for revenue to $44.80 billion to $45.20 billion from $43.50 billion to $44.50 billion. Analysts surveyed by FactSet expect $44.55 billion. Netflix ( NFLX ) shares were down 4.6% around midday.

Chevron ( CVX ) has completed its $53 billion acquisition of Hess (HES) after it won its legal dispute with Exxon Mobil ( XOM ) over offshore oil assets in Guyana. Chevron ( CVX ) shares were down 0.5%, while those of Exxon were down 2.4%.

American Express ( AXP ) reported Q2 adjusted earnings Friday of $4.08 per diluted share, up from $3.49 a year earlier and above the FactSet consensus estimate of $3.88. Second-quarter revenue was $17.86 billion, up from $16.33 billion a year ago and above the FactSet consensus of $17.72 billion. American Express ( AXP ) shares were down 3%.

BP (BP) said Friday it has agreed to sell its US onshore wind business, BP Wind Energy North America, to LS Power. Once the deal is closed, BP Wind Energy will be owned and operated as part of LS Power's Clearlight Energy. BP shares were up 0.2%.

Charles Schwab ( SCHW ) reported Q2 adjusted earnings Friday of $1.14 per diluted share, up from $0.73 a year earlier and above the FactSet consensus of $1.10. Second-quarter net revenue was $5.85 billion, up from $4.69 billion a year ago and above the FactSet consensus of $5.73 billion. Schwab shares were up 2.4%.

Meta Platforms ( META ) said Friday that it will not sign the European Commission's new Code of Practice for general-purpose AI models. Meta shares were down 0.5%.

GSK (GSK) said Thursday the US Food and Drug Administration's oncologic drugs advisory committee voted against the benefit-risk profile of Blenrep combinations at the proposed dosage for adults with relapsed or refractory multiple myeloma. GSK shares were fractionally lower.

3M ( MMM ) reported Q2 adjusted earnings Friday of $2.16 per diluted share, up from $1.93 a year earlier and above the FactSet consensus of $2.01. Second-quarter revenue was $6.34 billion, up from $6.26 billion a year ago and above the FactSet consensus of $6.12 billion. The company raised its 2025 adjusted EPS guidance to $7.75 to $8.00 from $7.60 to $7.90. Analysts surveyed by FactSet expect $7.71. 3M ( MMM ) shares were down 4.7%.

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