11:37 AM EST, 03/06/2025 (MT Newswires) -- All three major US stock indexes were down in late-morning trading Thursday, as investors waited for more information on President Donald Trump's tariffs.

In company news, Marvell Technology ( MRVL ) late Wednesday reported fiscal Q4 non-GAAP net income of $0.60 per diluted share, up from $0.46 a year earlier and above the consensus estimate of analysts surveyed by FactSet calling for $0.59. Fiscal Q4 revenue was $1.82 billion, up from $1.43 billion in the year-ago period and above the FactSet consensus of $1.80 billion. The company expects fiscal Q1 non-GAAP EPS to be in a range of $0.56 and $0.66 and revenue 5% on either side of $1.88 billion. Analysts expect $0.60 and $1.87 billion, respectively. Marvell ( MRVL ) shares were down 17.5% around midday.

Alibaba ( BABA ) said Thursday on X it has launched QwQ-32B, an artificial intelligence reasoning model developed by its AI unit Qwen. QwQ-32B features 32 billion parameters and delivers performance comparable to DeepSeek's R1 model, Qwen said. Alibaba ( BABA ) shares were down 0.6%.

Kroger ( KR ) reported fiscal Q4 adjusted earnings Thursday of $1.14 per diluted share, down from $1.34 a year earlier but above the FactSet consensus estimate of $1.11. Fiscal Q4 sales were $34.31 billion, down from $37.06 billion a year earlier and below the FactSet consensus of $34.57 billion. The company expects fiscal 2025 adjusted diluted EPS of $4.60 to $4.80. Kroger ( KR ) shares were up 3.5%.

Boeing ( BA ) Chief Executive Kelly Ortberg warned workers that Trump's tariffs risk disrupting supply chains and driving up costs for certain parts sourced from Canada, like landing gear, Bloomberg reported Thursday, citing a video of the CEO's company-wide address it obtained. Boeing ( BA ) shares were down 0.7%.

Macy's (M) reported fiscal Q4 adjusted earnings Thursday of $1.80 per diluted share, down from $2.24 a year earlier but above the FactSet consensus estimate of $1.54. Fiscal Q4 revenue was $8.01 billion, down from $8.38 billion in the year-ago period but above the FactSet consensus of $7.78 billion. The retailer said it expects fiscal 2025 adjusted diluted EPS of $2.05 to $2.25, while analysts polled by FactSet expect $2.29. Macy's expects 2025 net sales of $21 billion to $21.4 billion, compared to FactSet consensus expectations of $21.34 billion. Macy's shares were down 0.2%.

Price: 74.37, Change: -15.77, Percent Change: -17.50