12:02 PM EDT, 05/08/2024 (MT Newswires) -- The major US indexes were mixed on Wednesday morning, with the Dow Jones Industrial Average up in trading and seeking to close its sixth-consecutive day in positive territory.

In company news, Uber ( UBER ) reported a Q1 net loss of $0.32 per share on Wednesday, widening from a $0.08 loss in the year-ago quarter. The Capital IQ consensus analyst estimate called for earnings of $0.22 per share. The result included a pretax headwind of $721 million tied mainly to unrealized losses on Uber's ( UBER ) equity investments. First-quarter revenue was $10.13 billion, up from $8.82 billion in Q1 2023 and above the Capital IQ consensus analyst estimate of $10.09 billion. Gross bookings totaled $37.65 billion, up from $31.41 billion a year earlier. Uber ( UBER ) said it expects Q2 gross bookings of $38.75 billion to $40.25 billion. Adjusted earnings before interest, taxes, depreciation and amortization for Q2 will likely be in a range of $1.45 billion and $1.53 billion, according to the company. Uber ( UBER ) shares were down 8.7% near noon.

Anheuser-Busch Inbev ( BUD ) reported Q1 underlying earnings Wednesday of $0.75 per share, up from $0.65 a year ago and above the Capital IQ consensus analyst estimate of $0.66. First-quarter revenue was $14.55 billion, up from $14.21 billion in Q1 2023 and above the Capital IQ consensus analyst estimate of $14.37 billion. Shares of the company were up 4.1%.

Shopify ( SHOP ) reported Q1 adjusted net income Wednesday of $0.20 per diluted share, up from $0.01 a year earlier and above the Capital IQ consensus analyst estimate of $0.17. First-quarter revenue was $1.86 billion, up from $1.51 billion a year ago and slightly above the Capital IQ consensus analyst estimate of $1.85 billion. Shopify ( SHOP ) said it anticipates Q2 revenue to rise by a high-teens percentage rate year over year, impacted negatively by 300 to 400 basis points from the sale of its logistics business last year. Shopify ( SHOP ) shares were down 19.2% in midday trading.

US prosecutors are looking into whether Tesla (TSLA) committed wire or securities fraud by allegedly misleading consumers and investors about the self-driving capabilities of its vehicles, Reuters reported. Tesla's autopilot and self-driving systems are not fully autonomous, and prosecutors are investigating statements suggesting that the cars can drive themselves, according to the report. Shares of Tesla were down 1.2%.

Intel ( INTC ) updated its Q2 outlook after the US Commerce Department notified the company Tuesday that it was revoking its license to sell chips to China's Huawei Technologies, effective immediately. The company now expects Q2 revenue to remain in the original range of $12.5 billion to $13.5 billion but below the midpoint, according to a regulatory filing. The Commerce Department also revoked the license of Qualcomm ( QCOM ) to sell chips to Huawei, according to media reports. Intel ( INTC ) shares were down 2.9%, while those of Qualcomm ( QCOM ) were down 0.3%.

Microsoft ( MSFT ) said Wednesday it will invest $3.3 billion in Wisconsin between now and 2026 to expand its national cloud and artificial intelligence infrastructure capacity. The project will create 2,300 union construction jobs and 2,000 permanent jobs over time, according to a White House statement. Microsoft ( MSFT ) shares were up 1.0% around noon.

Alphabet's (GOOG) Google DeepMind introduced AlphaFold 3 on Wednesday, a new AI model it developed alongside Isomorphic Labs that will seek to make significant breakthroughs in biological research. Google ( GOOG ) shares were down 0.9%.

Shell's (SHEL) subsidiary, Shell Singapore, has reached an agreement to sell its Energy and Chemicals Park in Singapore to a joint venture company comprised of Glencore Asian Holdings and Chandra Asri Capital. Financial details of the deal, which is expected to close by the end of the year, were not disclosed. Shares of the oil company were down 0.4%.

Price: 64.27, Change: -6.16, Percent Change: -8.75