12:01 PM EST, 11/21/2024 (MT Newswires) -- The Dow Jones Industrial Average and the S&P 500 Index were both up in late-morning trading Thursday, while the Nasdaq Composite was led down by Nvidia ( NVDA ) , which reported earnings after market close on Wednesday.

In company news, Nvidia ( NVDA ) reported fiscal Q3 non-GAAP earnings of $0.81 per diluted share, up from $0.40 a year earlier and above the consensus estimate by analysts polled by FactSet of $0.75, excluding some items. Third-quarter revenue was $35.08 billion, up from $18.12 billion in the year-ago period and above the FactSet consensus estimate of $33.17 billion. The company expects fiscal Q4 revenue of $37.5 billion, plus or minus 2%. Analysts expect $37.09 billion. On the earnings call, Chief Executive Jensen Huang said Nvidia ( NVDA ) will deliver more of its next-generation artificial intelligence Blackwell chips in Q4 than it previously estimated. Nvidia ( NVDA ) shares were down 1.4% near noon.

Alphabet's (GOOG, GOOGL) Google ( GOOG ) must sell its Chrome browser and take other major steps to end its monopoly on internet searches, the US Justice Department and a group of states said Wednesday in a court filing. Among the proposed measures for ending what a judge has already ruled was Google's ( GOOG ) illegal monopoly on general search services and search text advertising were selling its Android operating system and being barred for five years from owning or acquiring any investment or interest in any search or search text ad rival, distributor, or query-based AI product or ads technology. Shares of Alphabet were down 6.6%.

The Consumer Financial Protection Bureau on Thursday finalized a rule to oversee the largest nonbank companies that offer digital funds transfer and payment wallet apps. The most widely used apps covered by the rule collectively process over 13 billion consumer payment transactions annually, according to a CFPB estimate. The rule aims to help the regulator ensure that businesses like Apple's ( AAPL ) Apple Pay, Google's ( GOOG ) Google Pay and PayPal's ( PYPL ) Venmo are held to a similar standard under federal law as large banks, credit unions and other financial institutions, the CFPB said. Apple ( AAPL ) shares were down 0.2%, while those of PayPal ( PYPL ) were up 0.2%.

PDD Holdings ( PDD ) reported Q3 non-GAAP earnings Thursday of 18.59 Chinese renminbi ($2.57) per diluted American depositary share, up from 11.61 renminbi a year earlier but below the consensus estimate by analysts surveyed by FactSet of 19.58 renminbi. Third-quarter revenue was 99.35 billion renminbi, up from 68.84 billion renminbi in the year-ago period but below the FactSet consensus estimate of 102.87 billion renminbi. Shares of PDD were down more than 10%.

Exxon Mobil ( XOM ) said Thursday it intends to invest over $200 million to expand its advanced recycling operations in Texas. The company said the investment will add advanced recycling capacity of 350 million pounds per year at its Baytown and Beaumont sites, bring total annual capacity to 500 million pounds. Exxon Mobil ( XOM ) shares were up 1.0%.

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