12:03 PM EDT, 06/13/2024 (MT Newswires) -- The major US stock indexes were mostly flat in late-morning trading Thursday, as investors weighed the Federal Reserve's most-recent decision to hold interest rates steady as well as the latest round of inflation data that hinted that price pressures may be easing.

In company news, Tesla (TSLA) Chief Executive Elon Musk said proposals to approve his $56 billion pay package and move the company to Texas appear to be passing with overwhelming shareholder support. The final results of the shareholder vote are scheduled to be announced later on Thursday. Shares of the company were up 3.7% near noon.

The US Supreme Court on Thursday sided with Starbucks ( SBUX ) over the National Labor Relations Board (NLRB) in a case involving the termination of a group of pro-union employees. The NLRB sought and was granted by a district court judge a preliminary injunction that would force Starbucks ( SBUX ) to reinstate the employees. That ruling was then upheld by a federal appeals court, but the Supreme Court ruled that the NLRB's "attempt to salvage the reasonable-cause standard using statutory context" failed. Starbucks ( SBUX ) shares were up 1.1%.

Ares Management (ARES) is in talks to merge with GLP Capital's operations outside China in a deal that would bring $66 billion of assets to Ares, Bloomberg reported Thursday, citing people with knowledge of the matter. Shares of Ares were down 4%.

Ford Motor ( F ) is ending an electric-vehicle dealership program that originally asked store owners to invest up to $1.2 million to sell EVs, media outlets reported Thursday, citing a Ford media briefing. The automaker will instead open EV sales to all of its US dealers amid slower-than-projected demand, according to media reports. Ford shares were down 1.3%.

BlackRock ( BLK ) , Global Infrastructure Partners and Brookfield Asset Management ( BAM ) will jointly commit at least $4 billion as part of a private-capital infrastructure push in the developing world, Bloomberg reported Thursday, citing Biden administration officials. Shares of BlackRock ( BLK ) were down 0.5%, while those of Brookfield were down 1.3%.

Boeing ( BA ) is investigating a new quality issue with its 787 Dreamliner after finding hundreds of fasteners incorrectly installed on the fuselages of some of the undelivered jets, Reuters reported Thursday, citing two people familiar with the matter. Boeing ( BA ) shares were down 1.3%.

UBS AG (UBS) has entered final talks with Beijing State-Owned Assets Management over the sale of Credit Suisse's China venture after talks with Citadel Securities stalled, Bloomberg reported Thursday, citing people familiar with the matter. A final decision and agreement could be reached by the end of the month, the people reportedly told Bloomberg. UBS first plans to sell most of its holdings in Credit Suisse Securities China to the Beijing government and then buy Beijing's 33% stake in UBS Securities Co. to have full ownership, the report said. UBS would still keep 15% of Credit Suisse Securities China, and the Beijing city government would hold the rest after the deal, according to the report. Shares of UBS were down 2.3%.

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