12:02 PM EDT, 08/19/2024 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Monday as investors gear up for the Federal Reserve's annual Jackson Hole Symposium later this week that could provide details on the future path of interest rates.

In company news, Advanced Micro Devices ( AMD ) said Monday it has agreed to acquire ZT Systems, a provider of artificial intelligence infrastructure, in a cash-and-stock deal valued at $4.9 billion. The deal consideration includes a contingent payment of up to $400 million based on certain post-closing milestones. The acquisition, which is slated to close in H1 2025, is expected to be accretive on a non-GAAP basis by the end of next year. It is also expected to "significantly" strengthen AMD's AI capabilities. Shares of AMD were up 3% near noon.

General Motors ( GM ) is laying off more than 1,000 salaried employees globally in its software and services division after a review of the unit, CNBC reported Monday, citing an unnamed source familiar with the matter. The layoffs include about 600 jobs at GM's tech campus near Detroit, and the affected workers were notified Monday morning, CNBC reported. GM shares were fractionally up.

The US Securities and Exchange Commission on Monday said it has charged Carl Icahn and his publicly traded company, Icahn Enterprises ( IEP ) , for failing to disclose information relating to Icahn's pledges of his company's securities as collateral to secure personal margin loans worth billions of dollars. Icahn and his company agreed to pay $500,000 and $1.5 million, respectively, in civil penalties to settle the charges, the SEC said. Shares of Icahn Enterprises ( IEP ) were down 1.1%.

Attorneys general from Indiana, Iowa, Kansas, Louisiana, Mississippi, Nebraska, New Mexico, South Dakota, Utah and Vermont have joined the Department of Justice's civil antitrust lawsuit against Live Nation Entertainment ( LYV ) and its subsidiary, Ticketmaster, the DOJ said Monday. In all, 39 states and the District of Columbia have now joined the Justice Department in its suit accusing the company and its subsidiary of monopolization and other unlawful conduct in violation of Sections 1 and 2 of the Sherman Act. Shares of Live Nation were up 1%.

FuboTV ( FUBO ) earned a victory late Friday in federal court when a judge approved its request for a preliminary injunction against the launch of Venu Sports, a joint venture from Walt Disney ( DIS ) , Fox (FOX) and Warner Bros. Discovery ( WBD ) . The injunction will remain in place until Fubo's lawsuit against the companies concludes. Shares of Fubo were up 24.1%, while those of Disney ( DIS ), Fox and Warner Bros. Discovery ( WBD ) were up 1.4%, 0.1% and 1.3%, respectively.

APA (APA) is looking into the sale of its oil and gas drilling properties across the Permian basin in Texas and New Mexico for about $1 billion, Reuters reported Monday, citing people familiar with the matter. Shares of APA were up 1.4%.

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