12:16 PM EDT, 05/14/2024 (MT Newswires) -- The major US indexes were higher at midday Tuesday as investors digested government data that showed producer price growth rising faster than expected in April.

In company news, AMC Entertainment ( AMC ) shares climbed past 58% after the company raised $250 million from its "at-the-market" offering of 72.5 million shares at an average price of about $3.45 per share, according to a regulatory filing.

Amazon.com ( AMZN ) said Adam Selipsky will step down as chief executive of AWS and that Matt Garman will succeed him, effective June 3. Selipsky spent 15 years in AWS, while Garman has been with AWS for 18 years. The company added that some organizational adjustments will be announced in the coming weeks as part of the transition. Shares were nearly 1% down.

GameStop ( GME ) shares continued to rise after Monday's gains following the return to social media Sunday of Keith Gill, also known as "Roaring Kitty," who took part in a 2021 meme stock rally. Shares were up more than 68% in recent trading.

Alibaba Group ( BABA ) shares fell more than 7% in recent trading after the company reported mixed fiscal Q4 results. Adjusted diluted earnings for the quarter were 10.14 renminbi ($1.40) per American depositary share, down from 10.71 renminbi a year earlier. Revenue stood at 221.87 billion renminbi, up from 208.2 billion a year earlier.

Tesla (TSLA) is being sued by the Environmental Democracy Project, a nonprofit organization that asserted the electric vehicle maker's Fremont, California, factory violated the Clean Air Act "hundreds of times" since the beginning of 2021, according to a court filing. The company's shares were 3% up in recent trading.

Sony Group ( SONY ) shares added more than 5% Tuesday midday after the company's board of directors approved repurchasing up to 30 million shares of its common stock for up to 250 billion Japanese yen ($1.6 billion). The company also reported higher-than-expected fiscal Q4 earnings and revenue earlier in the day.

On the economic front, Federal Reserve Chair Jerome Powell said that it may take longer for restrictive monetary policy to impact inflation than previously expected, requiring the Federal Open Market Committee to keep rates higher for longer.

Price: 8.23, Change: +3.04, Percent Change: +58.57