11:58 AM EDT, 06/26/2024 (MT Newswires) -- All three major US stock indexes were down in late morning trading as investors wait a fresh batch of inflation data on Friday with the release of the personal consumption expenditures price index for May.

In company news, Southwest Airlines ( LUV ) now expects Q2 operating revenue per available seat mile to be down 4% to 4.5% compared to prior guidance of down 1.5% to 3.5%, according to a regulatory filing. The outlook change "was driven primarily by complexities in adapting its revenue management to current booking patterns in this dynamic environment," the company said in the filing. Shares of the company were down 1% near noon.

The US Health and Human Services Department said Wednesday that some Medicare enrollees will pay less for 64 prescription drugs available through Medicare Part B. Since each drug company raised prices faster than the rate of inflation, the drugs will have a lowered Part B coinsurance rate from July 1 through Sept. 30, HHS said. Among the 64 listed drugs are Bristol Myers Squibb's ( BMY ) Abecma, which treats multiple myeloma, and Pfizer's ( PFE ) Adcetris, which treats certain lymphomas. Bristol Myers Squibb ( BMY ) shares were up 1.2%, while those of Pfizer ( PFE ) were down 0.7%.

German appliance and engineering products group Robert Bosch is weighing an acquisition of Whirlpool (WHR), Reuters reported Wednesday, citing three people familiar with the matter. Bosch has been talking to potential advisers about possibly making an offer for Whirlpool, which has a market capitalization of around $4.8 billion, the people reportedly told Reuters. Shares of Whirlpool were up 12%.

Rivian Automotive ( RIVN ) will receive up to $5 billion in investments from Volkswagen to create an equally controlled joint venture on electric vehicle architecture and software technology, the companies said Tuesday after market close. Under the terms of the agreement, Volkswagen will invest an initial $1 billion in Rivian before year-end and increase the investment by an addition $4 billion until 2026. The initial investment will be in the form of a convertible note, and each company will own 50% of the joint venture. Rivian shares were up 29%.

Airbus has warned airlines that some of their jet deliveries due in the next two years could be delayed, Bloomberg reported, citing people familiar with the matter. Plane deliveries could be delayed by months from when they were originally due, the people reportedly told Bloomberg. Its US airline customers include Delta (DAL), American Airlines ( AAL ) , Frontier (ULCC) and Hawaiian Airlines (HA), whose shares were down 1%, up 0.9%, down 1.7% and up 0.6%, respectively.

Alphabet's (GOOG) YouTube ( GOOG ) is negotiating with Sony ( SONY ) , Warner Music ( WMG ) and Universal Music for the use of their songs in training its artificial intelligence tools, the Financial Times reported Wednesday, citing people with knowledge of the matter. Unlike royalty-based agreements, the payments YouTube ( GOOG ) seeks to make resemble one-off deals common in social media for access to music content, according to the report. Alphabet shares were down 0.3%, while those of Sony ( SONY ) were and Warner Music ( WMG ) were up 0.3% and down 0.2%, respectively.

Vista Outdoor ( VSTO ) received an increased all-cash takeover offer of $42 per share, or about $3.2 billion, from MNC Capital Partners, up from $39.50 per Vista share. The new offer represents a premium of almost 25% to the Tuesday closing price of Vista's stock, MNC said. Shares of Vista were up 10%.

Novo Nordisk ( NVO ) said Wednesday it will recognize an impairment loss of around 5.7billion Danish Krone ($816.2 million) in Q2 after its Clarion-CKD phase 3 trial failed to meet its primary endpoint. Shares of the company were down 2.7%.

Price: 28.45, Change: -0.07, Percent Change: -0.23