11:40 AM EST, 11/06/2024 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Wednesday after Donald Trump won the 2024 presidential election on Tuesday night.

In company news, Donald Trump's presidency could be a boost for Big Tech and Tesla (TSLA) by driving major artificial intelligence initiatives, easing regulatory barriers and giving the electric-vehicle maker a competitive edge if EV subsidies are cut and tariffs on China are raised, Wedbush analysts said in a note on Wednesday. Tesla shares were up 13.3% near midday.

Novo Nordisk ( NVO ) reported Q3 earnings Wednesday of 6.12 Danish kroner ($0.88) per diluted American depositary share, up from 5 kroner a year earlier and above the expectation of three analysts polled by Capital IQ calling for 5.95 kroner. Q3 net sales were 71.31 billion kroner, up from 58.73 billion kroner in the year-ago period but below the Capital IQ consensus analyst estimate of 71.81 billion kroner. The company said it now expects full-year sales growth of 23% to 27% at current exchange rates, compared to the previous guidance range of 22% to 28%. Novo Nordisk ( NVO ) shares were down 2.1%.

CVS Health ( CVS ) reported Q3 adjusted earnings Wednesday of $1.09 per share, down from $2.21 a year earlier and below the Capital IQ consensus estimate of $1.46. Q3 total revenue was $95.43 billion, up from $89.76 billion a year earlier and above the Capital IQ consensus estimate of $92.69 billion. CVS shares were up 10.8%.

Apple ( AAPL ) has approached Foxconn about producing artificial intelligence servers in Taiwan, Nikkei Asia reported Wednesday, citing sources. Foxconn's capacity to take on the technology giant as a customer may be limited, the sources said. Apple ( AAPL ) shares were up 0.6%.

BlackRock ( BLK ) is preparing a private credit loan fund that will let it raise as much as $1.3 billion it can distribute to existing investors, Bloomberg reported Wednesday, citing people familiar with the matter. BlackRock ( BLK ) shares were down 0.3%.

Saudi Arabia's Riyadh Air will choose between Boeing ( BA ) and Airbus for a "substantial" order, as it seeks to grow its fleet to over 200 aircraft, Bloomberg reported, citing an interview with the airline's chief executive, Tony Douglas. Riyadh Air will make its decision by Q2 2025, Douglas said. Boeing ( BA ) shares were down 2.2%.

Price: 107.80, Change: -2.33, Percent Change: -2.12