11:55 AM EDT, 05/01/2025 (MT Newswires) -- All three major US stock indexes were up around midday trading Thursday after a couple of giant tech companies posted strong earnings late Wednesday.

In company news, Microsoft ( MSFT ) reported fiscal Q3 earnings late Wednesday of $3.46 per diluted share, up from $2.94 a year earlier and above the consensus estimate of analysts surveyed by FactSet calling for $3.22. Fiscal Q3 revenue was $70.07 billion, up from $61.86 billion a year ago and above the FactSet consensus of $68.44 billion. Microsoft ( MSFT ) shares were up 8.7% around noon.

Meta Platforms ( META ) reported Q1 earnings Wednesday of $6.43 per diluted share, up from $4.71 a year earlier and above the FactSet consensus estimate of $5.23. First-quarter revenue was $42.3 billion, up from $36.5 billion a year ago and above the FactSet consensus of $41.3 billion. The company expects Q2 revenue to be in a range of $42.5 billion to $45.5 billion, compared to analyst expectations of $44.21 billion. Meta shares were up 5%.

Eli Lilly ( LLY ) reported Q1 non-GAAP earnings Thursday of $3.34 per diluted share, up from $2.58 a year earlier and above the FactSet consensus of $3.26. First-quarter revenue was $12.73 billion, up from $8.77 billion a year ago and above the FactSet consensus of $12.67 billion. The company trimmed its 2025 adjusted diluted EPS guidance to a range of $20.78 to $22.28 from $22.50 to $24. Analysts surveyed by FactSet expect $22.22. Eli Lilly ( LLY ) shares were down nearly 11%.

McDonald's (MCD) reported Q1 non-GAAP net income Thursday of $2.67 per diluted share, down from $2.70 a year earlier but above the FactSet consensus estimate of $2.66. First-quarter revenue was $5.96 billion, down from $6.17 billion a year ago and below the FactSet consensus of $6.1 billion. Comparable sales on a global basis fell by 1%, compared with a 1.9% rise in the year-ago period. Same-store sales in the US fell by 3.6% versus a 2.5% gain last year. McDonald's shares were down 0.6%.

General Motors ( GM ) said Thursday in a regulatory filing that it now expects net income attributable to stockholders to be in a range of $8.2 billion to $10.1 billion, down from $11.2 billion to $12.5 billion, due to an estimated tariff-related impact of $4.0 billion to $5.0 billion. The automaker also cut its full-year adjusted earnings per diluted share range to $8.25 to $10 from $11 to $12. GM shares were up 0.7%.

Tesla (TSLA) denied a recent report by The Wall Street Journal that the company's board is looking for a new chief executive to replace Elon Musk. Tesla shares were up 1.2%.

Mastercard ( MA ) reported Q1 adjusted earnings Thursday of $3.73 per diluted share, up from $3.31 a year earlier and above the FactSet consensus estimate of $3.58. First-quarter net revenue was $7.25 billion, up from $6.35 billion a year ago and above the FactSet consensus of $7.13 billion. Mastercard ( MA ) shares were down 0.3%.

Ford Motor ( F ) total vehicle sales rose 16.2% year over year in April to 208,675 vehicles, company data showed. Over the same period, Ford electric vehicle sales fell 39.4% to 4,859 vehicles, while hybrid vehicle sales rose 29.6% to 23,331 vehicles and internal combustion sales rose 17.5% to 180,485 vehicles. Ford shares were up 2.3%.

Hedge fund Third Point owns a "meaningful" stake in US Steel (X) and anticipates that the merger with Japan's Nippon Steel will proceed, Reuters reported Thursday, citing a letter from Third Point Chief Executive Daniel Loeb to investors it viewed. US Steel shares were up 0.6%.

Kohl's (KSS) said Thursday its board decided Wednesday to terminate Chief Executive Ashley Buchanan for cause. An investigation by an outside counsel and overseen by the board's audit committee determined Buchanan "violated company policies" by directing the company "to engage in vendor transactions that involved undisclosed conflicts of interest," Kohl's said. The company named Chairman Michael Bender interim CEO, effective immediately. Kohl's shares were up 6.4%.

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