11:54 AM EDT, 08/06/2024 (MT Newswires) -- All three major US stock indexes were trading above 1% late Tuesday morning, clawing back some of the losses from Monday.

In company news, Caterpillar ( CAT ) reported Q2 adjusted earnings Tuesday of $5.99 per diluted share, up from $5.55 a year earlier and above the Capital IQ consensus analyst estimate of $5.54. Second-quarter revenue was $16.69 billion, down from $17.32 billion in the year-ago period but above the Capital IQ consensus estimate of $16.67 billion. For 2024, the company expects adjusted profit per share to be higher than its previous expectations, while adjusted operating profit margin is estimated to come in at the top end of its target range. Shares of Caterpillar ( CAT ) were up 2.8% near noon.

Uber Technologies ( UBER ) reported Q2 earnings Tuesday of $0.47 per diluted share, up from $0.18 a year earlier and above the Capital IQ consensus analyst estimate of $0.31 per share. Second-quarter revenue was $10.70 billion, up from $9.23 billion in the year-ago period and above the Capital IQ consensus estimate of $10.58 billion. For Q3, Uber ( UBER ) is guiding for gross bookings in the $40.25 billion to $41.75 billion range, implying annual growth of 18% to 23%. Uber ( UBER ) shares were up 8%.

Tesla (TSLA) is conducting a remote recall of about 1.7 million vehicles in China through an over-the-air software update, Reuters reported Tuesday, citing a statement from China's State Administration for Market Regulation. The recall impacts imported Model S and Model X vehicles, as well as China-made Model 3 and Model Y vehicles, which may fail to detect an unlocked front trunk lid, according to the report. Tesla shares were down 1.3%.

NCR Voyix ( VYX ) said Tuesday it agreed to sell its digital banking business to an affiliate of Veritas Capital for $2.45 billion in cash plus future additional contingent consideration of up to $100 million. The deal is expected to close by the end of the year, subject to customary closing conditions, including regulatory approvals. NCR Voyix ( VYX ) stock was up 0.6%.

KKR (KKR) is closing in on a deal to acquire a controlling stake in FGS Global from WPP ( WPP ) for about $800 million, the Financial Times reported Tuesday, citing people close to the talks. Under the terms of the discussed deal, WPP ( WPP ) would sell its 50.5% stake in the communications business, giving FGS a valuation of about $1.6 billion. KKR's stake would grow from around 30% to about 80%, according to the report. WPP ( WPP ) could announce the deal as soon as Wednesday when it is due to disclose its financial results, the people told FT. KKR shares were up 3%, while those of WPP ( WPP ) were up 0.7%.

International Business Machines ( IBM ) and HashiCorp ( HCP ) each received notification last Thursday from the UK's Competition and Markets Authority that the regulator intends to review the companies' merger, HashiCorp ( HCP ) said Tuesday in a filing with the US Securities and Exchange Commission. The merger is expected to close by the end of the year, HashiCorp ( HCP ) said. Shares of IBM ( IBM ) were up 1.6%, while those of HashiCorp ( HCP ) were down 0.1%.

Newell Brands ( NWL ) is moving its production of kitchen appliances away from China due to tariff "uncertainty" ahead of the US presidential election, Chief Executive Chris Peterson told Reuters in an interview. The company has also relocated manufacturing for its writing business to Tennessee, the CEO told Reuters, adding that it is automating its US manufacturing to make higher US wages work. Shares of the company were down 1.4%.

Canadian Imperial Bank of Commerce ( CM ) said Tuesday it intends to hire for more than 200 data and artificial intelligence roles. The company said it will add the positions over the next 12 months. CIBC shares were up 1.8%.

Price: 326.82, Change: +10.02, Percent Change: +3.16