12:18 PM EDT, 08/15/2024 (MT Newswires) -- All three major US stock indexes were trading above 1% on Thursday morning, driven by encouraging retail sales and jobless claims data that eased concerns of a looming recession.

In company news, Walmart ( WMT ) reported fiscal Q2 adjusted earnings Thursday of $0.67 per diluted share, up from $0.61 a year earlier and above the Capital IQ consensus analyst estimate of $0.65. Fiscal Q2 revenue was $169.34 billion, up from $161.63 billion in the year-ago period and above the Capital IQ consensus estimate of $167.38 billion. The company said it expects fiscal-year 2025 adjusted earnings to be in a range of $2.35 to $2.43 per diluted share, up from previous guidance of $2.23 to $2.37. Analysts polled by Capital IQ expect $2.43. For fiscal Q3, Walmart ( WMT ) said it expects adjusted earnings in a range of $0.51 to $0.52 per diluted share, below the consensus analyst estimate on Capital IQ of $0.55. Shares of Walmart ( WMT ) were up 6.7% near noon.

Cisco Systems ( CSCO ) reported fiscal Q4 non-GAAP earnings late Wednesday of $0.87 per diluted share, down from $1.14 a year earlier but above the Capital IQ consensus analyst estimate of $0.85. Fiscal Q4 revenue was $13.64 billion, down from $15.20 billion but above the Capital IQ consensus estimate of $13.54 billion. The company expects fiscal Q1 2025 non-GAAP EPS between $0.86 and $0.88 on revenue ranging from $13.65 billion to $13.85 billion. Analysts polled by Capital IQ expect $0.85 and $13.76 billion, respectively. Cisco ( CSCO ) also expects FY 2025 non-GAAP EPS of $3.52 to $3.58 on revenue between $55 billion and $56.2 billion. Analysts surveyed by Capital IQ expect $3.55 and $55.68 billion, respectively. Separately, the company outlined a restructuring plan that will likely impact about 7% of its global workforce, according to a regulatory filing. Cisco ( CSCO ) shares were up 6.9%.

The Centers for Medicare & Medicaid Services, or CMS, on Thursday released the prices for the first 10 prescription drugs that were subject to negotiations between drugmakers and Medicare under the Inflation Reduction Act. The negotiated prices will go into effect in 2026 and are expected to save Medicare Part D enrollees about $1.5 billion, CMS said. The negotiated prices compared with the 2023 list prices for the 10 drugs are as follows: Merck's ( MRK ) Januvia: $113 vs. $527; Novo Nordisk's ( NVO ) Fiasp and NovoLog: $119 vs. $495; AstraZeneca's ( AZN ) Farxiga: $178.50 vs. $556; Amgen's ( AMGN ) Enbrel: $2,355 vs. $7,106; Boehringer Ingelheim's Jardiance: $197 vs. $573; Johnson & Johnson's ( JNJ ) Stelara: $4,695 vs. $13,836; Johnson & Johnson's ( JNJ ) Xarelto: $197 vs. $517; Bristol Myers Squibb's ( BMY ) Eliquis $231 vs. $521; Novartis' ( NVS ) Entersto: $295 vs. $628; and AbbVie's ( ABBV ) Imbruvica: $9,319 vs. $14,934.

Starbucks ( SBUX ) said in a regulatory filing late Wednesday that incoming Chief Executive Brian Niccol will be eligible for annual equity awards worth $23 million and additional stock grants of $75 million for giving up his shares in Chipotle Mexican Grill ( CMG ) , where he is stepping down as CEO. Niccol's initial annual base salary will be $1.6 million, and he will also get a cash signing bonus of $10 million, according to the filing. Niccol will replace Starbucks ( SBUX ) CEO Laxman Narasimhan, who resigned on Tuesday. Starbucks ( SBUX ) shares were up 0.3%, while those of Chipotle were up 2.7%.

Roper Technologies ( ROP ) has agreed to buy Transact Campus for $1.5 billion, including a $100 million tax benefit, and combine it with its CBORD business, the companies said in separate statements Thursday. The net price values Transact at 14 times its anticipated 2025 earnings before interest, taxes, depreciation and amortization, Roper said. Transact's current CEO, Nancy Langer, will lead the combined entity. Roper shares were up 3.3%.

Toyota Motor ( TM ) is considering shifting to "hybrid-only models" of Toyota ( TM ) and Lexus vehicles, Reuters reported Thursday, citing company executives. The automaker plans to conduct assessment during each model redesign, if not sooner, Reuters reported. Toyota ( TM ) is likely to drop the gasoline-only model for the North American market, though a final decision has yet to be made, two people familiar with the planning discussions reportedly told Reuters. Toyota ( TM ) shares were up 2.8%.

A consortium led by Sixth Street Partners has agreed to purchase Credit Suisse's US mortgage servicing business from UBS Group ( UBS ) , Bloomberg reported Thursday, citing people familiar with the matter. Shares of UBS were down 2.8%.

Price: 48.56, Change: +3.12, Percent Change: +6.87