11:36 AM EDT, 03/31/2025 (MT Newswires) -- The S&P 500 Index and Nasdaq Composite were both down in late-morning trading, while the Dow Jones Industrial Average was about flat, as market participants continue to process tariff-related uncertainty.

In company news, Rocket Companies ( RKT ) said Monday it agreed to acquire Mr. Cooper Group (COOP) in an all-stock deal valued at $9.4 billion. Under the terms of the agreement, Rocket said Mr. Cooper's shareholders will receive 11 Rocket shares for each share of Mr. Cooper common stock, representing a 35% premium over the 30-day average price. Rocket shareholders will own about 75% of the combined company, while Mr. Cooper shareholders will own 25% once the deal is completed, which is expected to occur in Q4, Rocket said. Shares of Rocket were down 7.8% around midday.

Brookfield Asset Management ( BAM ) is nearing a deal to acquire Colonial Pipeline, the United States' largest fuel transportation system, for over $9 billion, including debt, Reuters reported Monday, citing people familiar with the matter. Brookfield shares were down 2.1%.

GlobalFoundries ( GFS ) and United Microelectronics ( UMC ) are exploring a possible merger, Nikkei Asia reported Monday, citing an assessment plan it viewed. According to the plan, a merger would create a bigger U.S.-based company with a production footprint across Europe, Asia and the U.S., the report said. GlobalFoundries ( GFS ) shares were down 1.7%, while those of United Microelectronics ( UMC ) were up 12.9%.

ARM Holdings ( ARM ) expects its share of the worldwide market for data center CPUs to surge to 50% by the end of 2025, up from about 15% in 2024, Reuters reported Monday, citing a senior executive. Shares of Arm Holdings ( ARM ) were down 3.3%.

United Airlines (UAL) said Monday it received approval from the Federal Aviation Administration to equip its first aircraft with Starlink technology. The airline said it was issued a supplemental type certificate for the Embraer 175, and its first planned Starlink-equipped commercial flight will be in May. United Airlines shares were down 4.6%.

Nokia ( NOK ) said Monday it reached a patent agreement with Amazon ( AMZN ) , covering the use of its video technologies in Amazon's ( AMZN ) streaming services and devices. Nokia ( NOK ) said the deal resolves all ongoing global patent litigation between the two companies. Nokia ( NOK ) shares were up 0.1%, while those of Amazon ( AMZN ) were down 2.8%.

Price: 12.02, Change: -1.01, Percent Change: -7.75