12:13 PM EDT, 10/29/2024 (MT Newswires) -- The S&P 500 Index and the Nasdaq Composite were both up, while the Dow Jones Industrial Average was down in late-morning trading on Tuesday, as investors await corporate earnings reports from tech giants including Alphabet (GOOG, GOOGL), Meta Platforms ( META ) , Microsoft ( MSFT ) and Apple ( AAPL ) over the next couple of days.

In company news, McDonald's (MCD) reported higher-than-expected Q3 earnings and revenue on Tuesday, while same-store sales declined more than Wall Street expected. The fast-food chain's Q3 adjusted earnings were $3.23 per share, up from $3.19 a year ago and above the Capital IQ consensus analyst estimate of $3.20. Third-quarter revenue was $6.87 billion, up from $6.69 billion in the year-ago period and above the Capital IQ consensus of $6.82 billion. Comparable sales fell by 1.5%, down from an 8.8% gain last year and worse than the Capital IQ consensus for a 0.5% decline. Shares of the company were up 0.3%.

Ford Motor ( F ) reported Q3 adjusted earnings late Monday of $0.49 per diluted share, up from $0.39 a year earlier and above the Capital IQ consensus analyst estimate of $0.47. Third-quarter revenue was $46.20 billion, up from $43.80 billion in the year-ago period and above the Capital IQ consensus of $42.32 billion. Ford now expects consolidated adjusted earnings before tax and interest of $10 billion for 2024, at the bottom of its prior guidance range of $10 billion to $12 billion. Separately, Ford workers across the UK will start to strike on Wednesday after labor negotiations broke down, British union Unite said Tuesday. Ford shares were down 8.9%.

Novartis ( NVS ) reported Q3 core earnings Tuesday of $2.06 per share, up from $1.74 a year earlier and above the Capital IQ consensus estimate from four surveyed analysts of $1.93. Third-quarter net sales were $12.82 billion, up from $11.78 billion a year earlier and above the Capital IQ consensus of $12.67 billion. The company said it now expects 2024 core operating income to grow in the high teens on low double-digit net sales gain. Novartis ( NVS ) previously guided for mid-to-high teens growth in core operating income and a high single to low double-digit increase in net sales. Novartis ( NVS ) shares were down 4.4%.

Pfizer ( PFE ) reported Q3 adjusted earnings Tuesday of $1.06 per diluted share compared with an adjusted loss of $0.17 a year earlier and above the Capital IQ consensus expectation of $0.61. Third-quarter revenue was $17.7 billion, up from $13.49 billion in the year-ago period and above the Capital IQ consensus of $14.87 billion. The company raised its 2024 adjusted EPS outlook to a range of $2.75 to $2.95 from the previous range of $2.45 to $2.65. Full-year revenue is now projected to be in a range of $61 billion to $64 billion, up from previous guidance of $59.5 billion to $62.5 billion. Pfizer ( PFE ) shares were down 1.9%.

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