12:20 PM EDT, 10/08/2024 (MT Newswires) -- All three major US stock indexes were up after midday trading Tuesday.

In company news, PepsiCo ( PEP ) reported fiscal Q3 core earnings Tuesday of $2.31 per diluted share, up from $2.25 a year earlier and above the Capital IQ consensus analyst estimate of $2.29. Fiscal Q3 net revenue was $23.32 billion, down from $23.45 billion a year earlier and below the consensus estimate of $23.78 billion. The company expects a low-single-digit increase in organic revenue for 2024. Shares of the company were up 0.9% after midday.

Honeywell ( HON ) said Tuesday it plans to spin off its advanced materials business into a separate publicly traded company as it works to streamline focus around core business lines. The advanced materials business that operates brands such as Solstice, Spectra, Hydranal and Aclar will be separated in a tax-free spin to shareholders. The company expects the spinoff to be completed by the end of 2025 or early 2026. Honeywell ( HON ) shares were up 1.5%.

Apple's ( AAPL ) largest iPhone assembler, FoxConn, is building the world's biggest production facility in Mexico for bundling Nvidia's ( NVDA ) GB200 superchips, Reuters reported Tuesday, citing senior executives at the Taiwanese company. Shares of Nvidia ( NVDA ) were up 3.5%, while those of Apple ( AAPL ) were up 1.6%.

Uber Technologies ( UBER ) said Tuesday that it will introduce an artificial intelligence assistant in its driver app that will use OpenAI's GPT-4o to help drivers adapt to using electric vehicles. The ride-hailing company also said it is launching an EV mentorship program under which Uber ( UBER ) drivers who have more experience with EV cars can help those who aren't experienced in driving the vehicles. Shares of Uber ( UBER ) were up 1.4%.

Lyft ( LYFT ) said it will enhance earnings for drivers on its platform by paying extra to go out of their way for a ride and for rides that are at least five minutes longer than estimated, Reuters reported Tuesday. The company also plans to launch tools like a new earnings dashboard, more requests for "preferred drivers" and the ability for EV drivers to find rides within their battery range, the report said. Lyft ( LYFT ) shares were down 2.5%.

Price: 132.06, Change: +4.34, Percent Change: +3.40