12:20 PM EDT, 08/29/2024 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Thursday despite a drop in the shares of tech giant Nvidia ( NVDA ) following the release of its earnings results late Wednesday.

In company news, Nvidia ( NVDA ) reported fiscal Q2 non-GAAP earnings Wednesday evening of $0.68 per diluted share, up from $0.27 a year earlier and above the Capital IQ consensus estimate of $0.64. Second-quarter revenue was $30.04 billion, up from $13.51 billion a year earlier and above the Capital IQ consensus of $28.75 billion. For fiscal Q3, the company expects revenue of $32.5 billion, plus or minus 2%, above analysts' expectations of $31.77 billion. Nvidia ( NVDA ) also said its board has authorized an additional $50 billion share buyback without expiration. Shares of the company were down 3.3% near noon.

Salesforce ( CRM ) reported Q2 non-GAAP earnings late Wednesday of $2.56 per diluted share, up from $2.12 a year earlier and above the Capital IQ consensus estimate of $2.36. Second-quarter revenue was $9.33 billion, up from $8.60 billion in the year-ago period and above the Capital IQ consensus of $9.23 billion. For Q3, the company said it expects non-GAAP EPS of between $2.42 and $2.44 and revenue in a range of $9.31 billion to $9.36 billion. Analysts polled by Capital IQ expect EPS of $2.43 on $9.41 billion in revenue. For fiscal 2025, Salesforce ( CRM ) expects non-GAAP EPS of between $10.03 to $10.11 and reiterates revenue outlook of between $37.7 billion and $38.0 billion. The company's previous guidance called for non-GAAP EPS of $9.86 to $9.94. Analysts surveyed by Capital IQ expect EPS of $9.90 and revenue of $37.85 billon. Salesforce ( CRM ) shares were up 0.5%.

CrowdStrike ( CRWD ) reported fiscal Q2 non-GAAP earnings late Wednesday of $1.04 per diluted share, up from $0.74 a year ago and above the Capital IQ consensus estimate of $0.97. Second-quarter revenue was $963.9 million, up from $731.6 million a year ago and above the Capital IQ consensus estimate of $958.3 million. For Q3, the company said it expects non-GAAP EPS of $0.80 to $0.81 and revenue of $979.2 million to $984.7 million. Analysts polled by Capital IQ expect EPS of $0.96 and revenue of $1.01 billion. For fiscal 2025, CrowdStrike ( CRWD ) said it expects non-GAAP EPS to be between $3.61 and $3.65, below its previous guidance of $3.93 to $4.03. It expects fiscal 2025 revenue to be between $3.89 billion and $3.90 billion, below its previous guidance of $3.98 billion to $4.01 billion. Analysts surveyed by Capital IQ expect EPS of $3.91 and revenue of $3.96 billion. CrowdStrike ( CRWD ) shares were up 5.1%.

Shell (SHEL) is planning to cut down its oil and gas exploration and development team by 20% as part of Chief Executive Wael Sawan's cost-saving efforts, Reuters reported Thursday, citing company sources. Hundreds of job cuts will occur in the exploration and wells development and subsurface units, with the impact expected to be acutely felt in the company's Britain and the Netherlands offices, the sources reportedly told Reuters. Shares of Shell were up 0.2%.

The Federal Reserve said late Wednesday it has agreed to lower the latest stress capital buffer requirement for Goldman Sachs ( GS ) after the bank asked for reconsideration. The systemically important financial institution must now maintain a stress capital buffer of 6.2%, down from the 6.4% initially required under the central bank's annual stress test. The Fed said it agreed to adjust the treatment of some non-recurring historical expenses in the stress test, resulting in the revised requirement. The latest capital requirement for the US's largest banks take effect on Oct. 1, the Fed said. Shares of Goldman Sachs ( GS ) were up 1.5%.

Amazon.com ( AMZN ) workers are set to join Teamsters Union strikes in Georgia, California, Kentucky and New York over unfair labor practices, the union said Thursday in a Facebook post. Amazon ( AMZN ) shares were up 1.7%.

Price: 121.43, Change: -4.18, Percent Change: -3.33