12:06 PM EDT, 06/04/2024 (MT Newswires) -- All three major US stock indexes were down in late-morning trading Tuesday despite an April job openings report that showed further signs of labor-market cooling that should bolster hopes for a Federal Reserve rate cut this year.

In company news, Tesla (TSLA) Chief Executive Elon Musk diverted a significant shipment of Nvidia ( NVDA ) artificial intelligence processors reserved for the electric vehicle maker to X, his social media company, CNBC reported Tuesday, citing emails written by Nvidia ( NVDA ) senior staff and shared inside the company. In so doing, Musk pushed back Tesla's receipt of more than $500 million in graphics processing units by months, which has likely added to delays in setting up the supercomputers that the EV maker says it needs to produce autonomous vehicles and humanoid robots, according to the report. Shares of Tesla were down 0.5%, while those of Nvidia ( NVDA ) were down 0.4% near noon.

Axos Financial's ( AX ) "exposure to the riskiest asset classes, its lax underwriting standards, and glaring issues with its portfolio indicate that the company faces significant stress ahead," Hindenburg Research said in a note Tuesday. As a result, Hindenburg has taken a short position in shares of Axos, according to the note. Axos shares were down 7.9%.

Ford Motor ( F ) said Tuesday its US total vehicle sales grew by 11% in May to 190,014 from 170,933 a year earlier. Ford sold 8,966 electric vehicles in the month, up nearly 65% from the previous year, and 37,208 EVs in 2024 so far, an increase of 87.8% from the same period a year ago. Hybrid vehicle sales rose about 65% year over year in May to 17,631, while internal combustion sales were up 5.6% to 163,417 units. Shares of Ford were down 1.3%.

Intel ( INTC ) introduced a new set of technologies on Monday meant to extend the use of AI applications. The new tools include Xeon 6 processors for data centers, Gaudi AI accelerator architecture, and Core Ultra processors for personal computers. Intel ( INTC ) shares were down 0.6%.

Meme stock leader Keith Gill, known as "Roaring Kitty" online, maintained his significant holdings in GameStop ( GME ) despite a recent rally, CNBC reported late Monday, citing a screenshot by Gill. Gill's screenshot showed he still owned 5 million shares and 120,000 call options with a $20 strike price that expires June 21, just as he did Sunday evening, according to CNBC. GameStop ( GME ) shares were down 6.7%.

Green Thumb Industries Chief Executive Ben Kovler sent a letter to Boston Beer ( SAM ) founder and Chairman Jim Koch Sunday looking to discuss a potential merger, The Wall Street Journal reported Tuesday, citing the letter, which it saw. In the letter, Kovler described the possible benefits of a tie-up, such as allowing Green Thumb to get listed on a major US exchange, the report said. The combined company would also be able to launch innovative products in categories like pre-rolled joints, edibles, and drinks and would have more resources to seek M&A deals, Kovler said in the letter, according to the report. Shares of Boston Beer ( SAM ) were down 1.4%.

Paramount Global's ( PARAA ) leadership presented plans Tuesday at the company's annual shareholder meeting to explore a streaming joint venture, cut $500 million in costs, and sell non-core assets in case a sale to Skydance Media is not successful, CNBC reported Tuesday. Paramount has agreed to merger terms with Skydance, pending approval from controlling shareholder Shari Redstone, according to the report. Shares of Paramount were down 3.8%.

Woodside Energy Group ( WDS ) and Saudi Aramco are discussing making investments in Tellurian's (TELL) liquefied natural gas export plant in Louisiana, Bloomberg reported Tuesday, citing people familiar with the matter. Woodside shares were down 1.8%, while those of Tellurian were up 13.3%.

CoreWeave has made an offer to acquire Core Scientific ( CORZ ) for $5.75 per share, Bloomberg reported Tuesday, citing a person with knowledge of the matter. The all-cash offer was made Monday and comes as CoreWeave seeks to enhance its AI data center capacity, Bloomberg reported, citing the person. The offer represents a 55% premium to Core Scientific's ( CORZ ) three-month volume-weighted average price as of May 31, the person reportedly told Bloomberg. Core Scientific ( CORZ ) shares were up 35.3%.

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