12:08 PM EDT, 06/10/2025 (MT Newswires) -- The S&P 500 was up in late-morning trading Tuesday, while the Dow Jones Industrial Average and Nasdaq Composite were basically flat, as investors continue to wait for news on ongoing trade talks between the US and China.

In company news, Brown & Brown ( BRO ) on Tuesday agreed to acquire RSC Topco, the holding company for Accession Risk Management Group, for about $9.83 billion on a cash and debt-free basis, the companies said Tuesday. The companies expect the deal to close in Q3, subject to regulatory approvals and other conditions. Brown & Brown ( BRO ) shares were down 1.7% near noon.

Meta Platforms ( META ) Chief Executive Mark Zuckerberg is putting together a team of experts to achieve artificial general intelligence, Bloomberg reported Tuesday, citing people familiar with the plans. The CEO intends to hire about 50 people for the new team, including a new AI research head, according to the report. Separately, Meta has agreed to take a 49% stake in Scale AI for $14.8 billion and will place the data labeling startup's chief executive, Alexandr Wang, in a top position at the tech giant, The Information reported Tuesday, citing people familiar with the matter. The deal, which isn't finalized, will send the cash to Scale's existing shareholders, the people reportedly told The Information. Meta shares were up 0.4%.

Boeing's ( BA ) monthly order intake rose in May, while deliveries remained the same from April, the company said Tuesday. May gross orders were 303, led by 119 for 737 Max aircraft, Boeing ( BA ) said, adding that it delivered 45 aircraft during the month, the same total as April. Boeing ( BA ) shares were down 1.0%.

Blackstone (BX) intends to invest up to $500 billion in Europe over the next 10 years, Chief Executive Steve Schwarzman said Tuesday in an interview on Bloomberg TV. Blackstone shares were up 0.7%.

J.M. Smucker (SJM) reported fiscal Q4 adjusted earnings Tuesday of $2.31 per diluted share, down from $2.66 a year earlier but above the FactSet consensus analyst estimate of $2.24. Fiscal Q4 net sales were $2.14 billion, down from $2.21 billion a year ago and below the FactSet consensus of $2.18 billion. For fiscal 2026, the company said it expects adjusted EPS of $8.50 to $9.50, compared to the FactSet analyst expectation of $10.25. Smucker shares were down 14%.

Tencent Music Entertainment Group (TME) said Tuesday it plans to acquire Chinese online audio platform in a cash-and-stock deal. The company will pay $1.26 billion in cash and class A shares representing up to 5.2% of its total outstanding stock, the company said. Tencent shares were down 1.4%.

Nvidia ( NVDA ) and Hewlett Packard Enterprise (HPE) are forming a partnership with Germany's Leibniz Supercomputing Centre to build a new supercomputer using the chipmaking giant's next-generation chips, Reuters reported Tuesday. The project, named Blue Lion supercomputer, is expected to be available to scientists in early 2027, according to the report. Nvidia ( NVDA ) shares were up 0.1%, while those of Hewlett Packard were down 0.1%.

UBS (UBS) shares fell Tuesday after JPMorgan Chase said in a research note that new Swiss capital rules may hamper the bank's ability to repurchase shares. JPMorgan lowered its estimate of UBS buybacks to $3.5 billion for 2026 from $6 billion and cut its 2027 projection to $4 billion from $8 billion. UBS shares were down 1.9%.

McDonald's (MCD) shares fell Tuesday after Redburn Atlantic downgraded the stock to sell from buy and lowered the price target to $260 from $319 on concerns of shifting consumer patterns stemming from the increased popularity of weight-loss drugs as well as inflation. McDonald's shares were down 2.4%.

Price: 106.02, Change: -1.83, Percent Change: -1.70