12:08 PM EDT, 05/30/2024 (MT Newswires) -- All three major US stock indexes were down in late-morning trading Thursday, as investors await a pivotal new batch of inflation data Friday.

In company news, Salesforce ( CRM ) reported late Wednesday Q1 non-GAAP net income of $2.44 per diluted share, up from $1.69 in the year-ago period. Analysts polled by Capital IQ called for $2.38. First-quarter revenue was $9.13 billion, up from $8.25 billion in Q1 2023. Analysts surveyed by Capital IQ expected $9.15 billion. For Q2, Salesforce ( CRM ) is projecting non-GAAP net income of $2.34 to $2.36 per share on revenue of $9.20 billion to $9.25 billion. Analysts have called for $2.40 per share on $9.34 billion in revenue. Shares of the company were down 20.2% near noon.

US Steel (X) and Nippon Steel said Thursday they have received all regulatory approvals outside of the US related to their proposed transaction. The companies said in a joint statement that they received approvals from the Directorate-General for the Competition of the European Commission, the Mexican Federal Economic Competition Commission, the Serbian Competition Commission, the Ministry of Economy of Slovakia, and the Turkish Competition Authority. The UK Competition and Markets Authority confirmed it has no further questions regarding the proposed deal in response to the submission of a voluntary briefing paper, the companies said. US Steel shares were up 2.1%.

Tesla (TSLA) issued a sharp response to Glass Lewis after the proxy advisory firm recommended that shareholders vote against Chief Executive Elon Musk's multibillion-dollar compensation package. In a letter, Tesla said that Glass Lewis "omits key considerations, uses faulty logic, and relies on speculation and hypotheticals." Separately, the electric-vehicle maker is preparing to register its "Full Self-Driving" software with Chinese authorities as part of its planned rollout of the feature this year, Reuters reported, citing three people with knowledge of the matter. Tesla is also considering selling the software via a monthly subscription equivalent to about $98 to users of its cars in China, Reuters reported, citing the three people. Tesla shares were up 0.5%.

Amazon.com ( AMZN ) said Thursday it is partnering with Grubhub to make home deliveries from restaurants more convenient and affordable for its customers. Amazon ( AMZN ) customers in the US can order from a large variety of restaurants with Grubhub directly on Amazon.com ( AMZN ) and in the Amazon Shopping app, the company said. Moreover, Prime members can enroll in a Grubhub+ membership worth $120 for free without automatically renewing into a paid Grubhub+ membership, Amazon ( AMZN ) said. Separately, Amazon ( AMZN ) announced Thursday that the US Federal Aviation Administration has given its drone delivery service, Prime Air, additional approval to fly drones beyond visual line of sight. Amazon ( AMZN ) shares were down 1%.

Alphabet's (GOOG, GOOGL) Google ( GOOG ) and Magic Leap, an augmented reality startup, have agreed to a partnership, according to a Magic Leap blog post. Separately, Google ( GOOG ) said Thursday that it plans to invest $2 billion in Malaysia to develop its first data center and Google Cloud center in the country. The data center will power Search, Maps, and Workspace and help deliver AI services. The cloud center will offer services to enterprises, startups, and public-sector organizations, Google ( GOOG ) said. Shares of Alphabet were down 1.7%.

Visa (V) and Mastercard ( MA ) have agreed to pay $197.5 million to settle a class action lawsuit brought by consumers accusing the companies of fixing prices to keep cash access fees unnecessarily high, according to a Wednesday filing with the US District Court for the District of Columbia. Shares of Visa were up 0.8%, while those of Mastercard ( MA ) were up 0.3%.

UBS Group ( UBS ) said Thursday it is reshuffling its executive board ahead of its merger with Credit Suisse, which takes place on Friday. Iqbal Khan will become president of UBS Asia-Pacific, effective September 1, while Rob Karofsky will become president of UBS Americas, effective July 1, among other changes to the board. Both will co-manage the Global Wealth Management division across all regions, the company said. Separately, UBS was hit with a 50,000 Swiss franc ($55,220) fine by the Swiss finance ministry for allegedly failing to report cases of suspected money laundering linked to the former President of Yemen Ali Abdullah Saleh, the finance ministry confirmed to MT Newswires Thursday. Shares of UBS were up 1.9%.

In policy news, the Biden administration's pilot program for sustainable aviation fuel credits will apply to a fuel mixture with little to no ethanol, Reuters reported Thursday, citing people familiar with the matter. The program, finalized on April 30, requires corn-based ethanol producers to verify that their corn comes from farms using specific climate-friendly practices, according to the report.

Price: 37.82, Change: +0.70, Percent Change: +1.90