Midday Fly By: AMD falls despite Q4 beat, Uber reports mixed results

The major averages were mixed near noon after following another slate of up-and-down earnings results. AMD shares were dropping after its quarterly report underwhelmed some analysts, while software names like Oracle and CrowdStrike were also seeing pressure.

Meanwhile, President Donald Trump said he had an “excellent telephone conversation” with China’s President Xi Jinping. The supposedly positive sentiment from the White House follows news yesterday that the House of Representatives voted 217-214 to pass legislation funding major parts of the government, including an extension of DHS funding, and ending a partial shutdown.

Looking to commodities, gold edged higher amid a continued period of volatility for the so-called “safe haven” asset. Oil prices were fractionally lower after yesterday’s API crude data and this morning’s DOE inventory report.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• AMD (AMD) reported better-than-expected Q4 results and provided upbeat Q1 revenue guidance
• Texas Instruments (TXN) agreed to acquire Silicon Labs (SLAB) for $231 per share in cash
• Eli Lilly (LLY) reported upbeat Q4 results and provided its outlook for FY26
• Chipotle (CMG) reported better-than-expected Q4 earnings and revenue, though comparable restaurant sales fell 2.5%
• Uber (UBER) reported mixed Q4 results and provided its guidance for Q1

2. WALL STREET CALLS:

• BofA double upgraded Five Below (FIVE) to Buy as results improve under new management
• Booking Holdings (BKNG) upgraded to Outperform at Mizuho and downgraded to Market Perform at Citizens
• PayPal (PYPL) downgraded at Citizens, HSBC and Canaccord
• Airbnb (ABNB) upgraded to Outperform at Citizens
• GE Vernova (GEV) upgraded to Outperform at Baird

3. AROUND THE WEB:

• Nvidia (NVDA) is close to a deal to invest $20B in OpenAI as part of its latest funding round seeking to raise up to $100B, Bloomberg says
• Ford (F) and China’s Geely (GELYF) are in advanced discussions about a potential partnership, including using Ford’s European factories for Geely vehicle production and possibly sharing vehicle and automated-driving technologies, Reuters says
• Alphabet (GOOGL) is planning to expand its presence in India, possibly taking millions of square feet in new office space in Bangalore, Bloomberg reports
• The joint owners of Virgin Media O2, Telefonica (VIV) and Liberty Global (LBTYA), intend to lead a EUR 2B acquisition of Netomnia, U.K.’s fourth-largest broadband network, FT says
• Barclays (BCS) and NatWest (NWG) will both submit formal offers for Evelyn on Thursday, Sky News reports

4. MOVERS:

• 8×8 (EGHT) gains after reporting Q3 results and raising its guidance for FY25
• Super Micro (SMCI) and Enphase (ENPH) increase after reporting quarterly results
• BetMGM (MGM) higher after providing guidance for FY26
• Lumen (LUMN) falls after reporting Q4 results and naming Jeff Sharritts as Chief Revenue Officer
• Intapp (INTA) lower after reporting quarterly results and providing guidance for Q3 and FY26

5. EARNINGS/GUIDANCE

• Boston Scientific (BSX) reported Q4 results, with CEO Mike Mahoney commenting, “2025 was another exceptional year for Boston Scientific”
• Fox Corp. (FOXA) reported Q2 results, with EPS and revenue beating consensus
• AbbVie (ABBV) reported Q4 results and provided guidance for Q1 and FY26
• Fortive (FTV) reported Q4 results, with EPS and revenue beating consensus
• Performance Food Group (PFGC) reported Q2 results, with CEO Scott McPherson commenting, “Solid second quarter results positioned the organization well for the remainder of the fiscal year”

INDEXES:

Near midday, the Dow was up 0.45%, or 219.72, to 49,460.71, the Nasdaq was down 1.75%, or 407.12, to 22,848.06, and the S&P 500 was down 0.67%, or 46.49, to 6,871.32.