11:32 AM EDT, 06/25/2025 (MT Newswires) -- The Nasdaq Composite and S&P 500 were both up in late-morning trading, while the Dow Jones Industrial Average was down, as a ceasefire between Israel and Iran continues to hold up.

In company news, FedEx ( FDX ) reported fiscal Q4 adjusted earnings late Tuesday of $6.07 per diluted share, up from $5.41 a year earlier and above the FactSet consensus analyst estimate of $5.82. Fiscal Q4 revenue was $22.2 billion, up from $22.1 billion a year ago and above the FactSet consensus of $21.74 billion. The company said it expects fiscal Q1 adjusted EPS of $3.40 to $4 on revenue growth of flat to 2%. Analysts expect adjusted EPS of $4.05 on revenue of $21.73 billion. FedEx ( FDX ) shares were down 3.1% around midday.

Tesla's (TSLA) May new car sales in Europe fell 27.9% from a year earlier, while overall electric vehicle sales in the region jumped by 27.2%, the European Automobile Manufacturers Association said Wednesday. Tesla shares were down 4.1%.

Apple ( AAPL ) plans to make changes to its App Store to satisfy European Union regulators that issued an ultimatum to the tech giant as well as a $581.1 million fine, Bloomberg reported Wednesday, citing people familiar with the matter. Apple ( AAPL ) will propose changes by Thursday's deadline that will make it easier for third-party developers to guide customers toward purchases outside the App Store, according to the report. Apple ( AAPL ) shares were up 0.9%.

General Mills ( GIS ) reported fiscal Q4 adjusted earnings Wednesday of $0.74 per diluted share, down from $1.01 a year earlier but above the FactSet consensus estimate of $0.71. Fiscal Q4 net sales were $4.56 billion, down from $4.71 billion a year ago and below the FactSet consensus estimate of $4.59 billion. For fiscal 2026, General Mills ( GIS ) said it expects adjusted earnings to be down 10% to 15% in constant currency. The company said it expects full-year net sales to be in a range of a 1% decline to a 1% gain. General Mills ( GIS ) shares were down 3.9%.

Bumble (BMBL) said Wednesday its board approved a 30% cut to its global workforce, or around 240 roles. The company said it expects to achieve up to $40 million in annual cost savings with the job cuts, while it expects to incur about $13 million to $18 million in non-recurring charges from severance, benefits and other associated costs. Bumble shares were up 18.3%.

Rubrik ( RBRK ) said Wednesday it has agreed to acquire Predibase to bring agentic AI models from pilot to production at scale. Financial terms of the deal were not disclosed. Rubrik ( RBRK ) shares were up 2.2%.

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