12:03 PM EDT, 07/26/2024 (MT Newswires) -- Wall Street's major market averages were trading higher on Friday as investors assessed the latest US inflation data.

The personal consumption expenditure price index rose 0.1% in June, in line with estimates compiled by Bloomberg, following a flat reading in May. Excluding the volatile food and energy components, which is the Federal Reserve's preferred inflation measure, the price index rose 0.2% as expected for the month compared with a 0.1% uptick previously.

In earnings news, shares of 3M ( MMM ) advanced nearly 20% in recent trading after the company said Friday that its Q2 adjusted earnings increased to $1.93 per diluted share from $1.39 a year earlier.

DexCom ( DXCM ) lowered its 2024 revenue outlook to a range of about $4.0 billion to $4.05 billion from the previous guidance of $4.2 billion to $4.35 billion. Shares of DexCom ( DXCM ) slumped roughly 42% in recent Friday trading.

Bristol-Myers Squibb ( BMY ) said that its Q2 non-GAAP earnings climbed to $2.07 per diluted share from $1.75 and its total revenue rose to $12.20 billion from $11.23 billion a year earlier. The company also lifted its 2024 non-GAAP diluted EPS outlook to a range of $0.60 to $0.90. Shares of Bristol-Myers Squibb ( BMY ) were up 9.4% in recent Friday trading.

In other news, Everi Holdings ( EVRI ) and International Game Technology ( IGT ) have signed agreements for IGT's gaming and digital business and Everi ( EVRI ) to be acquired by funds managed by Apollo Global Management ( APO ) for $6.30 billion in cash. Shares of Everi ( EVRI ) soared about 42%, International Game Technology ( IGT ) jumped past 16% and Apollo rose 0.9% in recent Friday trading.

WesBanco ( WSBC ) and Premier Financial (PFC) entered an all-stock merger agreement, with WesBanco ( WSBC ) as the surviving entity. The deal, valued at about $959 million, is expected to close in Q1 2025. Shares of WesBanco ( WSBC ) slid about 6% and Premier Financial was slightly lower in recent Friday trading.

Biogen (BIIB) and its partner Eisai said Friday that a European regulator recommended against the approval of a marketing authorization for lecanemab as treatment for early Alzheimer's disease, sending Biogen shares down nearly 6% in recent trading.

Price: 123.31, Change: +19.92, Percent Change: +19.27