11:57 AM EDT, 08/08/2024 (MT Newswires) -- All three major US stock indexes extended their rallies into late Thursday morning, driven in part by better-than-expected jobless claims figures released earlier in the day.

In company news, Eli Lilly ( LLY ) reported Q2 non-GAAP earnings Thursday of $3.92 per diluted share, up from $2.11 a year earlier and above the Capital IQ consensus analyst estimate of $2.76. Second-quarter revenue was $11.30 billion, up from $8.31 billion in the year-ago period and above the Capital IQ consensus estimate of $9.97 billion. The drugmaker increased its full-year 2024 non-GAAP earnings guidance to a range of $16.10 to $16.60 per share from $13.50 to $14. Analysts polled by Capital IQ expect $13.71. Eli Lilly ( LLY ) also raised its full-year revenue outlook to a range of $45.4 billion to $46.6 billion from $42.4 billion to $43.6 billion. Analysts polled by Capital IQ expect $42.95 billion. Shares of the company were up 8% around midday.

Alphabet's (GOOG, GOOGL) Google ( GOOG ) and Meta Platforms ( META ) made a secret deal to target teenagers with advertisements on YouTube ( GOOG ) and Instagram, the Financial Times reported Thursday, citing documents it saw and unnamed people familiar with the matter. Google ( GOOG ) worked on a marketing project for Meta designed to target 13- to 17-year-old YouTube ( GOOG ) users with ads that promoted Instagram, the report said, citing the document and people. The Instagram campaign was deliberately geared toward users labeled as "unknown" in its advertising system that Google ( GOOG ) knew skewed toward under-18-year-olds, the people told the FT. Moreover, steps were taken to ensure the campaign's true intent was disguised, according to the documents seen by the outlet. Shares of Alphabet and Meta were up 2.3% each.

The UK's Competition and Markets Authority said Thursday it has sufficient information to begin an investigation into the partnership between Amazon.com ( AMZN ) and artificial intelligence company Anthropic. The deadline for the regulator to conclude its investigation and announce whether it will refer the merger for a Phase 2 investigation is Oct. 4, it said. Amazon ( AMZN ) shares were up 1.0%.

CVS Health ( CVS ) Chief Executive Karen Lynch is taking direct responsibility for the company's Aetna insurance business after the drugstore chain missed expectations in the most recent quarter, she said Wednesday during a CNBC interview. CVS slashed its full-year guidance Wednesday for the third straight quarter, as insurers have seen costs rise as Medicare Advantage patients return to hospitals for pandemic-postponed procedures, according to the report. CVS shares were up 2.3%.

Microsoft ( MSFT ) and Palantir Technologies ( PLTR ) said Thursday they are collaborating to offer enhanced cloud, artificial intelligence and analytics capabilities to the US defense and intelligence communities. The integrated technology suite will allow critical national security missions to use Microsoft's ( MSFT ) Large Language Models via Azure OpenAI Service within Palantir's ( PLTR ) AI Platform in Microsoft's ( MSFT ) government and classified cloud environments, the companies said. Shares of Microsoft ( MSFT ) were up 1%, while those of Palantir ( PLTR ) were up 8.6%.

ChargePoint Holdings ( CHPT ) on Thursday unveiled Omni Port, which allows any electric vehicle to charge in any parking space, regardless of its connector type, without an additional cable, the company said. Shares of the company were up 9.8%.

Price: 830.91, Change: +58.77, Percent Change: +7.61