11:54 AM EDT, 10/24/2025 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Friday after the latest consumer price index showed inflation came in below expectations.

The US seasonally adjusted CPI rose by 0.3% in September, below expectations for a 0.4% gain in a survey compiled by Bloomberg and following a 0.4% increase in August, according to data released Friday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, less than the consensus estimate for a 0.3% increase after a 0.3% gain in August.

In company news, Intel ( INTC ) reported Q3 adjusted earnings late Thursday of $0.23 per diluted share, swinging from a loss of $0.46 a year earlier and above the FactSet consensus analyst expectation of $0.02. Third-quarter revenue was $13.70 billion, up from $13.30 billion a year ago and above the FactSet consensus of $13.17 billion. For Q4, the company expects adjusted EPS of $0.08 on revenue of $12.80 billion to $13.80 billion. Analysts expect EPS of $0.10 and revenue of $13.42 billion. Intel ( INTC ) shares were up 0.2% around midday.

Procter & Gamble ( PG ) reported fiscal Q1 core earnings Friday of $1.99 per diluted share, up from $1.93 a year earlier and above the FactSet consensus of $1.90. Fiscal Q1 net sales were $22.39 billion, up from $21.74 billion a year ago and above the FactSet consensus of $22.18 billion. Procter & Gamble ( PG ) shares were up 0.8%.

Booz Allen Hamilton ( BAH ) reported fiscal Q2 adjusted earnings Friday of $1.49 per diluted share, down from $1.81 a year earlier and below the FactSet consensus of $1.51. Fiscal Q2 revenue was $2.89 billion, down from $3.15 billion a year ago and below the FactSet consensus of $2.97 billion. For fiscal 2026, the company now expects adjusted EPS of $5.45 to $5.65 and revenue of $11.3 billion to $11.5 billion. Analysts are looking for $6.30 EPS on $12.06 billion in revenue. Previously, the company guided for full-year adjusted EPS of $6.20 to $6.55 and revenue of $12 billion to $12.5 billion. Booz Allen shares were down 7.6%.

IBM ( IBM ) said it has run a key quantum computing algorithm on readily available chips made by Advanced Micro Devices ( AMD ) , taking the company a step closer to commercializing supercomputers, Reuters reported Friday. IBM ( IBM ) shares were up 7.2%, while those of AMD were up 6.5%.

Eli Lilly ( LLY ) has agreed to acquire Adverum Biotechnologies ( ADVM ) , including its lead product candidate, Ixo-vec, the companies said Friday. Lilly said it will acquire all of Adverum's outstanding shares for $3.56 per share in cash plus one non-transferable contingent value right that entitles holders to receive up to an additional $8.91 per contingent value right in cash upon the achievement of two milestones. Eli Lilly ( LLY ) shares were up 1.4%, while those of Adverum were up 2.7%.

Amazon.com ( AMZN )-backed (AMZN) Anthropic said Thursday it will expand its use of Alphabet's (GOOG, GOOGL) Google Cloud technologies to boost its compute resources for artificial intelligence research and product development. Amazon ( AMZN ) shares were up 1.2%. Google's ( GOOG ) Class C shares were up 3.0%, while its Class A shares were up 2.9%.

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