11:38 AM EDT, 04/01/2025 (MT Newswires) -- The Dow Jones Industrial Average and S&P 500 Index were down in late-morning trading Tuesday, while the Nasdaq Composite was up, as market participants awaited President Donald Trump's rollout of tariffs on Wednesday.

In company news, Ford Motor ( F ) said Tuesday its US vehicle sales totaled 501,291 in Q1, down 1.3% from the year-ago period. Internal combustion vehicle sales fell 4.8% year over year to 427,668, while electric vehicle and hybrid vehicle sales rose 11.5% and 32.9% to 22,550 and 51,073, respectively. Ford shares were down 0.9% around midday.

Johnson & Johnson ( JNJ ) said late Monday that the US Bankruptcy Court for the Southern District of Texas denied the request of its subsidiary, Red River talc, to confirm its proposed prepackaged bankruptcy plan. Johnson & Johnson ( JNJ ) said it plans to return to the tort system to challenge and defeat "meritless talc claims" instead of pursuing an appeal. Johnson & Johnson ( JNJ ) shares were down nearly 5.0%.

Pharmaceutical companies are pressing President Trump to implement upcoming tariffs on medical imports gradually to ease potential disruptions and all time to shift production, Reuters reported Tuesday, citing people familiar with the matter. Separately, Eli Lilly ( LLY ) has sued Strive Pharmacy and Empower Clinic Services, demanding that the drug compounders stop selling products with tirzepatide, the active ingredient in its weight-loss and diabetes drugs, Zepbound and Mounjaro, Reuters reported Tuesday. Eli Lilly ( LLY ) shares were down 0.8%, while shares of AstraZeneca ( AZN ) , Moderna ( MRNA ) , Novo Nordisk ( NVO ) and GSK (GSK) were flat, up 0.5%, down 0.2% and down 0.6%, respectively.

Arm Holdings ( ARM ) recently considered acquiring U.K.-based Alphawave, which supplies semiconductor intellectual property, but decided against it after initial talks with the company, Reuters reported Tuesday, citing unnamed sources familiar with the matter. Separately, Qualcomm ( QCOM ) confirmed Tuesday in an information note to the London Stock Exchange that it is considering making an offer to acquire Alphawave. Arm Holdings ( ARM ) shares were up 1.1%, while those of Qualcomm ( QCOM ) were down 0.4%.

Meta Platforms ( META ) executives are pushing the Trump administration to respond aggressively against a European Union fine and cease-and-desist order against the company, The Wall Street Journal reported Monday, citing unnamed people familiar with the conversations. Meta shares were up 1.1%.

Honda Motor ( HMC ) reported Q1 US auto sales of 351,577 vehicles, an increase of 5.3%, Bloomberg reported Tuesday, citing an emailed statement from the company. Honda ( HMC ) shares were down 0.4%.

Macy's (M) on Tuesday named Thomas Edwards chief financial officer and chief operating officer, effective June 22. Edwards is currently CFO and COO at Capri Holdings. Macy's shares were up 3.6%.

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