11:44 AM EDT, 09/17/2025 (MT Newswires) -- The Dow Jones Industrial Average was up in late-morning trading Wednesday, while the S&P 500 and the Nasdaq Composite were down as investors await the Federal Reserve's interest-rate decision to be announced in the afternoon.

In company news, the Cyberspace Administration of China told Alibaba ( BABA ) , ByteDance and other domestic companies this week to stop buying Nvidia's ( NVDA ) artificial intelligence chips, the Financial Times reported Wednesday, citing three people with knowledge of the matter. Nvidia ( NVDA ) shares were down 2.7% around midday, while those of Alibaba ( BABA ) were up 2.5%.

Lyft ( LYFT ) and Alphabet's (GOOG, GOOGL) Waymo said Wednesday they have signed a partnership to provide an autonomous ride-hailing service in Nashville starting in 2026. The companies will use Lyft's ( LYFT ) Flexdrive system to support Waymo's autonomous vehicle fleet in the city. Lyft ( LYFT ) shares were up more than 12%, while Alphabet Class C commons shares were down 1.3%, and its Class A shares were down 1.4%.

Eli Lilly ( LLY ) said Tuesday a phase 3 study of orforglipron met its primary endpoint, with all three doses demonstrating "superior body weight reduction" compared with placebo. Separately, Eli Lilly ( LLY ), GSK (GSK), Johnson & Johnson ( JNJ ) and AstraZeneca ( AZN ) are among the pharmaceutical companies that have pledged to invest $350 billion in the US amid tariff threats from the Trump administration, The Wall Street Journal reported Wednesday. Eli Lilly ( LLY ) shares were up 0.9%. GSK, Johnson & Johnson ( JNJ ) and AstraZeneca ( AZN ) shares were up 0.9%, 0.5% and 0.4%, respectively.

Rithm Capital ( RITM ) said Wednesday it has entered into a definitive agreement to acquire Paramount Group ( PGRE ) , a real estate investment trust, for $1.6 billion in cash. The deal is expected to close in late Q4, pending shareholder approval, Rithm said. Shares of Rithm Capital ( RITM ) were up 3.5%, while those of Paramount Group ( PGRE ) were down about 12%.

Activist investor Elliott Investment Management said Tuesday that Workday (WDAY) has made "substantial progress" in improving its performance. Elliott holds a stake worth over $2 billion in the company. Also, Workday said its board has authorized a share repurchase agreement of up to $4 billion in additional shares. Workday shares were up 8.4%.

General Mills ( GIS ) reported fiscal Q1 adjusted earnings Wednesday of $0.86 per diluted share, down from $1.07 a year earlier but above the FactSet consensus analyst estimate of $0.81. Fiscal Q1 net sales were $4.52 billion, down from $4.85 billion a year ago but in line with the FactSet consensus estimate. The company maintained its fiscal 2026 adjusted EPS guidance, which calls for a drop of 10% to 15% in constant currency, as well as its organic net sales forecast range of down 1% to up 1%. General Mills ( GIS ) shares were down 0.9%.

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