11:50 AM EDT, 08/11/2026 (MT Newswires) -- Stocks were down in late-morning trading Tuesday, as investors continued to look for signs of progress in talks to reopen the Strait of Hormuz.

In company news, Nvidia ( NVDA ) is developing a new in-house AI model called Nemotron 4 that it hopes will perform on par with the best open-source AI models in the world, The Information reported Tuesday, citing several people who work on Nemotron. The company hopes its open-source efforts will drive demand for its hardware, the report said. Nvidia ( NVDA ) shares were up 0.7% around midday.

Intel ( INTC ) said Tuesday it has priced an upsized public offering of about 210.5 million common shares at $95 each. The offering was upsized to $20 billion from $15 billion. The offering ended multiple-times oversubscribed, and roughly 33%of investors who placed orders didn't receive shares, Bloomberg reported Tuesday, citing people familiar with the matter. Intel ( INTC ) shares were up 0.3%.

On Holding ( ONON ) reported adjusted Q2 earnings Tuesday of 0.35 Swiss francs ($0.43) per diluted share, swinging from a loss of 0.09 francs a year earlier and above the FactSet consensus analyst estimate of 0.34 francs. Net Q2 sales were 850.3 million francs, up from 749.2 million francs a year ago but below the FactSet consensus of 878.4 million francs. For full-year 2026, the company expects net sales growth in the low-20% range, implying reported sales of 3.47 billion to 3.56 billion francs, compared with its prior outlook of at least 3.51 billion francs and the FactSet consensus of 3.56 billion francs. On Holding ( ONON ) shares were down 19%.

Apollo Global Management's ( APO ) Apollo Sports Capital has reached a $2.6 billion financing agreement with Yankee Global Enterprises, the holding company of the New York Yankees, Apollo said Tuesday. The deal, which is expected to close "imminently," consists of both credit and equity, Apollo said. As part of the deal, Apollo Sports Capital CEO Al Tylis will join YGE's board, the company said. Apollo shares were up 4.6%.

SpaceX (SPCX) has agreed to launch Vingroup unit VinSpace's first satellites next year, the Vietnamese company said Tuesday. Under the agreement, VinSpace satellites will launch aboard a Transporter rideshare mission in 2027, the company said. SpaceX shares were down 3.2%.

Amazon ( AMZN )-backed (AMZN) Anthropic has agreed to a long-term deal with Riot Platforms ( RIOT ) for data center capacity in Texas, securing 191 megawatts of power through 2048, Bloomberg reported Tuesday, citing people familiar with the matter. Separately, Anthropic is meeting with potential investors ahead of an initial public offering that could take place in September or early October, The Wall Street Journal reported Tuesday, citing people familiar with the matter. The company is attempting to address concerns over Chinese AI competition, Trump administration tensions and backlash over data-center expansion, the report said, citing the people. Amazon ( AMZN ) shares were down 2%, while Riot shares were up 4.8%.

Price: 97.92, Change: +0.40, Percent Change: +0.41