11:58 AM EDT, 10/17/2024 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Thursday, driven by strong September retail sales data and gains by large semiconductor companies.

US retail sales rose by 0.4% in September, topping the 0.3% gain expected in a survey compiled by Bloomberg as of 7:30 a.m. ET and up from the previous month's 0.1% gain.

In company news, Taiwan Semiconductor Manufacturing ( TSM ) reported Q3 earnings Thursday of 12.54 new Taiwan dollars ($0.39) per diluted share, up from NT$8.14 a year earlier and above the Capital IQ consensus analyst estimate of NT$11.55. Third-quarter revenue was NT$759.69 billion, up from NT$546.73 billion a year earlier and above the Capital IQ consensus of NT$750.21 billion. For Q4, the company said it expects revenue to be between $26.1 billion and $26.9 billion. Analysts surveyed by Capital IQ expect $25.05 billion. Shares of the company were up 12.1% near noon. Meanwhile, other chip stocks rose following Taiwan Semiconductor Manufacturing's ( TSM ) earnings release. Shares of Nvidia ( NVDA ) , Advanced Micro Devices ( AMD ) , Qualcomm ( QCOM ) and Micron Technology ( MU ) were up 3.1%, 1.1%, 1.6% and 3.1%, respectively.

Blackstone (BX) reported Q3 distributable earnings Thursday of $1.01 per share, up from $0.94 a year earlier and above the Capital IQ consensus estimate of $0.92. Total third-quarter revenue was $3.66 billion, up from $2.54 billion a year earlier and above the consensus estimate from three analysts surveyed by Capital IQ of $2.36 billion. Blackstone's board raised its quarterly dividend to $0.86 per share from $0.82, payable Nov. 4 to shareholders of record on Oct. 28. Shares of Blackstone were up 6.2%.

Uber Technologies ( UBER ) is exploring a possible bid to acquire Expedia Group ( EXPE ) , the Financial Times reported late Wednesday, citing three people familiar with the matter. The ride-hailing company approached advisers in recent months after a third party suggested the idea and how it could be structured, the report said, citing the people. Uber ( UBER ) shares were down 2.1%, while those of Expedia ( EXPE ) were up 3.8%.

Elevance Health ( ELV ) reported Q3 adjusted earnings Thursday of $8.37 per diluted share, down from $8.99 a year earlier and below the Capital IQ consensus analyst estimate of $9.65. Third-quarter operating revenue was $44.72 billion, up from $42.48 billion a year earlier and above the consensus estimate of $43.14 billion. The company said it now expects 2024 adjusted EPS of about $33, down from the previous guidance of $37.20. Analysts polled by Capital IQ expect $37.25. Shares of Elevance were down 12%.

Price: 210.21, Change: +22.73, Percent Change: +12.12