12:16 PM EDT, 08/02/2024 (MT Newswires) -- All three major US stock indexes were trading down after midday Friday as a weak July jobs report ignited fears of a recession.

In company news, Apple ( AAPL ) reported fiscal Q3 diluted earnings late Thursday of $1.40 per share, up from $1.26 a year earlier and above the Capital IQ consensus analyst forecast of $1.34. Net sales for the quarter ended June 29 were $85.78 billion, up from $81.80 billion in the year-ago period and above the Capital IQ consensus forecast of $84.38 billion. Apple's ( AAPL ) board declared a quarterly cash dividend of $0.25, payable on Aug. 15 to shareholders of record on Aug. 12. Looking ahead, the company expects revenue in the September quarter to grow at a "similar" rate to the prior period. Separately, Apple ( AAPL ) is pressing executives at ByteDance and Tencent to eliminate links to external payment platforms allowing mini-app developers to avoid Apple's ( AAPL ) commission fee structure, Bloomberg reported Friday, citing people familiar with the discussions. Shares of Apple ( AAPL ) were up 2.2% after midday.

Amazon.com ( AMZN ) reported Q2 earnings late Thursday of $1.26 per diluted share, up from $0.65 a year earlier and above the Capital IQ consensus analyst estimate of $1.03. Second-quarter net sales were $147.98 billion, up from $134.38 billion in the year-ago period but below the Capital IQ consensus estimate of $148.76 billion. The company expects Q3 net sales in a range of $154 billion to $158.5 billion, compared to the forecast of analysts surveyed by Capital IQ of $158.33 billion. Amazon ( AMZN ) shares were down 9.2%.

Exxon Mobil ( XOM ) reported Q2 earnings Friday of $2.14 per diluted share, up from $1.94 a year earlier and above the Capital IQ consensus analyst estimate of $2.03. Second-quarter revenue was $93.06 billion, up from $82.91 billion in the year-ago period and above the Capital IQ consensus estimate of $89.68 billion. Exxon Mobil ( XOM ) shares were down 0.3%.

Chevron ( CVX ) reported Q2 adjusted earnings Friday of $2.55 per diluted share, down from $3.08 a year earlier and below the Capital IQ consensus analyst estimate of $3. Second-quarter revenue was $51.18 billion, up from $48.90 billion in the year-ago period and above the Capital IQ consensus estimate of $50.73 billion. The company said it is relocating its headquarters to Houston from San Ramon, Calif. Chevron ( CVX ) said there will be minimal immediate relocation impacts to employees based in San Ramon. The company currently has about 7,000 workers in the Houston area and about 2,000 in San Ramon. Chevron ( CVX ) expects all corporate functions to shift to Houston over the next five years. Shares of Chevron ( CVX ) were down 2.7%.

Ford Motor ( F ) sold 173,223 vehicles in July, down 0.2% from July 2023, the company said Friday. The automaker sold 8,242 electric vehicles and 16,825 hybrid vehicles in July, up 31% and 47%, respectively, year over year. Shares of Ford were down 4.6%.

Coca-Cola (KO) said Friday it will appeal the US Tax Court decision in the ongoing case between the company and the Internal Revenue Service. The court decision reflects a liability of about $2.7 billion that, when accounting for interest, is expected to be about $6.0 billion, the company said. Coca-Cola shares were up 0.3%.

Stellantis ( STLA ) faces an upgraded investigation by the National Highway Traffic Safety Administration into door locks and windows on Dodge Journey vehicles, agency documents showed. The probe, originally launched in May 2023, was upgraded into an engineering analysis from a preliminary evaluation partly "to explore other potential causes for door lock malfunction," the NHTSA said Thursday. The investigation involves 992,643 Dodge Journey vehicles made from 2009 to 2020, according to the NHTSA document. Stellantis ( STLA ) shares were down 1.3%.

A special committee of 23andMe's (ME) board declined on Friday Co-Founder, Chair and Chief Executive Anne Wojcicki's indication of interest to acquire all of the outstanding shares of the company for cash consideration of $0.40 per share of class A common stock or class B common stock. The committee was "disappointed with the proposal for multiple reasons, including because it provides no premium to the closing price per share on Wednesday, July 31st, it lacks committed financing and it is conditional in nature," it said in a letter addressed to Wojcicki. Shares of the company were up 0.6%.

Apollo Global Management ( APO ) and KKR (KKR) are among a group of funds providing a 1.75 billion British pound ($2.2 billion) loan to finance the buyout and delisting of UK-based Hargreaves Lansdown, Bloomberg reported Friday, citing people with knowledge of the matter. The private credit funds, which also include Blackstone (BX) and HPS Investment Partners, are providing the money to CVC Capital Partners, Nordic Capital and Abu Dhabi Investment Authority unit Platinum Ivy, which made a joint offer to take Hargreaves Lansdown private in a 5.4 billion British pound deal, the people reportedly told Bloomberg. Shares of Apollo, KKR and Blackstone were down 9.3%, 7.4% and 3.7%, respectively.

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