12:12 PM EDT, 07/18/2024 (MT Newswires) -- All three major US stock indexes were in the red around midday Thursday as the tech-heavy Nasdaq composite continued its downward trend in recent days.

In company news, Taiwan Semiconductor Manufacturing ( TSM ) reported Q2 earnings Thursday of 9.56 New Taiwan dollars ($0.29) per share, up from NT$7.01 per share a year earlier and above the Capital IQ consensus analyst estimate of NT$9.05. Second-quarter net sales were NT$673.51 billion, up from NT$480.84 billion in the year-ago period and above the Capital IQ consensus estimate of NT$656 billion. The company said it expects Q3 revenue of $22.4 billion to $23.2 billion. Analysts polled by Capital IQ expect NT$735.9 billion. CEO C.C. Wei said during the company's earnings call that TSM now expects its 2024 revenue to increase slightly above mid-20s percent. Shares of TSM were down 3.1% around midday.

Novartis ( NVS ) reported Q2 core earnings Thursday of $1.97 per diluted share, up from $1.67 a year earlier and above the estimate by four analysts polled by Capital IQ of $1.86. Second-quarter net sales were $12.51 billion, up from $11.44 billion in the year-ago period and above the Capital IQ consensus analyst estimate of $12.32 billion. The company said it now expects 2024 core operating income growth in the mid-to-high teens, up from previous projections of low-to-double-digit teens. Novartis ( NVS ) shares were down 4%.

Abbott Laboratories ( ABT ) reported Q2 adjusted earnings Thursday of $1.14 per diluted share, up from $1.08 a year earlier and above the Capital IQ consensus analyst estimate of $1.10. Second-quarter net sales were $10.38 billion, up from $9.98 billion a year ago and above the Capital IQ consensus estimate of $10.37 billion. Abbott said it now expects fiscal 2024 adjusted earnings of between $4.61 and $4.71 per diluted share, compared to the $4.55 to $4.70 range expected previously. Analysts surveyed by Capital IQ expect $4.63. Third-quarter adjusted earnings are expected at $1.18 to $1.22 per diluted share, Abbott said. Analysts polled by Capital IQ expect $1.20. Shares of Abbott were down 3.5%.

Blackstone (BX) reported Q2 distributable earnings Thursday of $0.96 per share, up from $9.93 a year earlier but below the Capital IQ consensus analyst estimate of $0.98. Second-quarter revenue was $2.80 billion, down from $2.81 billion in the year-ago period but above the Capital IQ consensus estimate of $2.56 billion. The company lowered its quarterly dividend to $0.82 per share, payable Aug. 5 to shareholders of record as of July 29. Blackstone shares were up 1.4%.

Marsh & McLennan ( MMC ) reported Q2 adjusted earnings Thursday of $2.41 per diluted share, up from $2.20 a year earlier and above the Capital IQ consensus analyst estimate of $2.39. Second-quarter revenue was $6.22 billion, above the year-ago quarter's $5.88 billion but below the Capital IQ consensus estimate of $6.31 billion. Marsh & McLennan ( MMC ) shares were down 1.1%.

Meta Platforms ( META ) has looked into making a multibillion-euro investment in EssilorLuxottica, the maker of Ray-Ban sunglasses, as part of its effort to develop smart glasses, the Financial Times reported Thursday, citing sources familiar with the matter. Meta shares were up 1.3%.

Amazon.com's ( AMZN ) Prime Day 2024 was its biggest ever, with record online sales and more items sold during the two-day event than any previous Prime Day, the company said Thursday. Adobe Analytics estimated a total spend of $14.2 billion. Amazon ( AMZN ) shares were down 2.9%.

Ford Motor ( F ) said Thursday that starting in 2026 it plans to assemble its F-Series Super Duty pickup trucks at its Oakville Assembly Complex in Ontario, Canada. The automaker said it will add production of 100,000 units of Super Duty trucks at the facility, with a $3 billion investment, including $2.3 billion to install assembly and integrated stamping operations. Shares of Ford were up nearly 2%.

Apple ( AAPL ) is in talks to license more films from major Hollywood studios as it seeks to boost its Apple TV+ streaming service, Bloomberg reported Thursday, citing people familiar with the matter. The company has held talks with several studios to acquire programming for customers in the US and abroad, the report said. Apple ( AAPL ) shares were down 2.5%.

Goldman Sachs ( GS ) plans to offer more "sophisticated" investment strategies traditionally reserved for wealthy clients to everyday investors, The Wall Street Journal reported Thursday. Goldman will structure portfolios for clients of its Betterment platform to help them save money on taxes by shifting cash from safe bank accounts to riskier fixed-income exchange-traded funds such as short-term Treasurys, municipal and investment-grade corporate bonds, the report said. Goldman shares were down 1.9%.

Price: 165.82, Change: -5.38, Percent Change: -3.14