11:48 AM EDT, 05/27/2025 (MT Newswires) -- All three major US stock indexes were up over 1% in late-morning trading Tuesday after President Donald Trump said over the holiday weekend he will extend the start date of the 50% European Union tariff to July 9.

In company news, Salesforce ( CRM ) has agreed to acquire cloud data management firm Informatica ( INFA ) for about $8 billion. Salesforce ( CRM ) will buy all the shares it does not already own in Informatica ( INFA ), the companies said in a joint statement Tuesday. Holders of Informatica's ( INFA ) class A and B-1 shares will receive $25 per share in cash. The deal is expected to close early in Salesforce's ( CRM ) fiscal year 2027, the companies said. Salesforce ( CRM ) shares were up 1.1% around midday, while those of Informatica ( INFA ) were up 6%.

US Steel (X) is expected to be acquired by Japan's Nippon Steel for $55 per share, CNBC's David Faber reported Tuesday, citing sources familiar with the matter. US Steel shares were up 2.1%.

Trump Media and Technology ( DJT ) said Tuesday it has entered into subscription agreements with around 50 institutional investors to raise about $2.5 billion for the creation of a bitcoin (BTC-USD) treasury. Trump media shares were down 9.6% recently.

Tesla's (TSLA) new car sales in Europe dropped 49% in April from a year earlier, while year-to-date sales fell 38.8% year over year, according to data released Tuesday by the European Automobile Manufacturers Association. Tesla shares were up 5%.

PDD (PDD) reported Q1 non-GAAP earnings Tuesday of 11.41 Chinese renminbi ($1.59) per diluted American depositary share, down from 20.72 renminbi a year earlier and below the FactSet consensus of 18.89 renminbi. First-quarter revenue was 95.67 billion renminbi, up from 86.81 billion renminbi a year ago but below the FactSet consensus of 103.13 billion renminbi. PDD shares were down 14.6%.

Price: 53.11, Change: +1.10, Percent Change: +2.11