12:02 PM EDT, 09/04/2024 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Wednesday, recovering some of the losses from the prior day's trading session.

In company news, Nvidia ( NVDA ) received a subpoena from the US Justice Department for additional information as it intensifies its antitrust probe into the company's dominant position in the artificial intelligence sector, Bloomberg reported late Tuesday, citing people familiar with the matter. The Justice Department had previously sent letters to the chipmaker and other companies seeking information, and the subpoena signals its continued effort to determine whether Nvidia ( NVDA ) is using its market influence to keep potential competitors from gaining a foothold in the space, according to the report. Shares of Nvidia ( NVDA ) were down 0.1% near noon.

United States Steel ( X ) said Wednesday it would largely pivot away from integrated steelmaking and might have to move its head office out of Pittsburgh if Nippon Steel's bid to acquire the company fails, putting thousands of jobs at risk. The statement comes a day after US presidential candidate and Vice President Kamala Harris said US Steel should remain American-owned and American-operated. Shares of US Steel were up 2.7%.

A group consisting of Nordstrom ( JWN ) family members and Mexican retailer El Puerto de Liverpool on Tuesday delivered a non-binding letter to Nordstrom ( JWN ) offering to buy the company and take it private for $23 per share in cash, according to a regulatory filing. Nordstrom ( JWN ) shares were down 0.3%.

Intel ( INTC ) is urging the federal government to hasten the release of funding under the 2022 Chips and Science Act as it currently faces financial challenges, Bloomberg reported Wednesday, citing people familiar with the matter. The chipmaker is due to receive $8.5 billion in grants and $11 billion in loans, subject to hitting certain milestones and following a "significant due diligence" process," according to the report. Separately, Intel's ( INTC ) contract manufacturing business was dealt a blow after engineers and executives concluded that the 18A manufacturing process is not ready to move to high-volume production, Reuters reported Wednesday, citing sources familiar with the matter. Tests conducted by Broadcom (AVGO) of Intel's ( INTC ) 18A manufacturing process did not meet expectations, according to the report. The company has plans to begin production of its own chips by the end of the year and start high-volume production for external customers next year, Reuters reported. Shares of Intel ( INTC ) were down 2.6%.

Blackstone (BX) said Wednesday that funds managed by its subsidiaries and the Canada Pension Plan Investment Board agreed to acquire data center platform AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board for 24 billion Australian dollars ($16.11 billion). Blackstone shares were down 0.4%.

KKR (KKR) is advancing the start of its tender offer for Japanese systems developer Fuji Soft to Sept. 5 in an attempt to preempt a rival bid by Bain Capital, Bloomberg reported Wednesday, citing people familiar with the matter. KKR is planning a 600 billion Japanese yen ($4.14 billion) buyout of Fuji Soft and is looking to speed up the deal before Bain formally submits its proposal, according to the report. Bain is proposing around 9,200 to 9,300 yen per share, 5% more than KKR's offer. Shares of KKR were up 0.4%.

Microsoft ( MSFT ) received clearance from the UK's Competition and Markets Authority to hire certain former employees of Inflection AI, the regulator said Wednesday. The decision comes after the CMA launched an inquiry in July to assess whether Microsoft's ( MSFT ) hiring of Inflection employees and entry into associated arrangements with the company resulted in a substantial lessening of competition within any market for goods or services in the UK. Microsoft ( MSFT ) shares were flat near noon.

Johnson & Johnson ( JNJ ) was ordered to pay over $1 billion in damages for breaching its pledge to prioritize two surgical robots it acquired when it purchased Auris Health. Vice Chancellor Lori Will of the Court of Chancery of the State of Delaware ruled that Johnson & Johnson ( JNJ ) broke its promise to Auris that it would provide efforts and resources to achieve commercial and regulatory milestones for the surgical robots that would fetch Auris an additional $2.35 billion as part of the acquisition deal. Johnson & Johnson ( JNJ ) shares were up 0.1%.

Price: 107.76, Change: -0.24, Percent Change: -0.22