All three major US stock indexes were up in late-morning trading Thursday as market participants continue to wait for updates on the Trump administration's trade negotiations with other nations.

A Chinese Commerce Ministry official said Thursday that the US should "remove all unilateral tariffs imposed on China" if it wants trade talks and that economic and trade negotiations between the two countries are not currently taking place, according to several media reports.

Procter & Gamble (PG) reported fiscal Q3 core earnings Thursday of $1.54 per diluted share, up from $1.52 a year earlier and above the consensus estimate of analysts surveyed by FactSet calling for $1.52. Fiscal Q3 net sales were $19.78 billion, down from $20.20 billion a year ago and below the FactSet consensus of $20.15 billion. The company lowered its fiscal 2025 core EPS guidance to range of $6.72 to $6.82 from $6.91 to $7.05. Shares of the company were down 5% near noon.

PepsiCo (PEP) reported Q1 core earnings Thursday of $1.48 per diluted share, down from $1.61 a year earlier and below the FactSet consensus estimate of $1.49. First-quarter revenue was $17.92 billion, down from $18.25 billion a year earlier but above the FactSet consensus of $17.76 billion. For fiscal 2025, the company now expects a 3% decline in core EPS, compared with its previous outlook calling for mid-single-digit growth. Pepsi shares were down 3.8%.

UPS (UPS) said Thursday it has entered into a definitive agreement to acquire Andlauer Healthcare Group for 2.2 billion Canadian dollars ($1.6 billion). Under the terms of the deal, Andlauer shareholders will receive 55 Canadian dollars per share in cash. The transaction is expected to close in H2, UPS said. Shares of UPS were up 0.9%.

Comcast (CMCSA) reported Q1 adjusted earnings Thursday of $1.09 per diluted share, up from $1.04 a year earlier and above the FactSet consensus of $0.99. First-quarter revenue was $29.89 billion, down from $30.06 billion a year ago but above the FactSet consensus of $29.77 billion. Comcast shares were down 4.9%.

American Airlines (AAL) reported a Q1 loss excluding special items Thursday of $0.59 per diluted share, widening from a loss of $0.34 a year earlier. Analysts polled by FactSet expected a non-GAAP loss of $0.70. First-quarter revenue was $12.55 billion, down from $12.57 billion a year ago but above the FactSet consensus of $12.54 billion. The company said it is withdrawing its 2025 guidance and "intends to provide a full-year update as the economic outlook becomes clearer." American Airlines shares were up 1.8%.

Southwest Airlines (LUV) reported a Q1 adjusted loss late Wednesday of $0.13 per diluted share, narrowing from the loss of $0.36 a year earlier and topping the $0.18 loss expected by analysts polled by FactSet. First-quarter operating revenue was $6.43 billion, up from $6.33 billion a year ago and above the FactSet consensus of $6.39 billion. The company said it decided against reiterating its 2025 or 2026 guidance given "the current macroeconomic uncertainty." Southwest shares were down 0.6%.

Price: 98.12, Change: +0.91, Percent Change: +0.93