The Dow Jones Industrial Average and the S&P 500 Index were up less than 0.1% in late-morning trading Tuesday, while the Nasdaq Composite was 0.4% higher after the US Consumer Confidence Index for September came in below estimates.

The Conference Board's measure of consumer confidence fell to 98.7 in September from 105.6 in August, significantly below the 104.0 expected in a survey compiled by Bloomberg as of 7:30 a.m. ET.

In company news, Smartsheet (SMAR) said Tuesday it has agreed to be bought by funds managed by Vista Equity Partners and Blackstone (BX) in an all-cash deal valued at about $8.40 billion. Blackstone and Vista Equity will buy all outstanding shares held by Smartsheet shareholders for $56.50 per share, Smartsheet said, adding that it anticipates the deal to close in its fiscal Q4 ending Jan. 31, 2025. Shares of Smartsheet were up 6.6% near noon, while those of Blackstone were up 0.3%.

The US Federal Trade Commission is set to approve Chevron's (CVX) $53 billion acquisition of Hess (HES) as early as this week, Reuters reported Tuesday, citing two unnamed sources familiar with the matter. The decision will leave Exxon Mobil's (XOM) challenge as the final obstacle to the merger, the report said. Shares of Chevron were down 0.2%, while those of Hess were down 0.3%.

Visa (V) will face a US Justice Department lawsuit as soon as Tuesday alleging that it has illegally monopolized the debit card market in the US, Bloomberg reported, citing people familiar with the matter. The DOJ's Antitrust Division plans to accuse the card company of a variety of anticompetitive actions, including the making of exclusive agreements to stifle competition, according to the report. Visa shares were down 4%.

Banks and private credit lenders are lining up more than 10 billion euros ($11.1 billion) of debt to back a buyout of Sanofi's (SNY) consumer health unit, Bloomberg reported, citing people familiar with the matter. A group of banks signed funding commitments last weekend for 7.5 billion euros to 7.8 billion euros of senior debt to back acquisition bids, as well as a 1.2 billion euro revolving credit facility. Meanwhile, private credit lenders are lining up around 1.5 billion euros to 2 billion euros of junior debt to finance the buyout, the people told Bloomberg. Sanofi shares were up 0.4%.

Boeing (BA) has informed Ryanair (RYAAY) that production is likely to be disrupted for as many as three weeks following the end of the machinists' strike, Reuters reported Tuesday, citing Ryanair Chief Executive Michael O'Leary. O'Leary reportedly told a news conference that Ryanair has been assured by Boeing that the timing of the delivery of 30 737 MAX jets scheduled for next June would not be impacted if the strike ended within three to four weeks, Reuters reported. Boeing shares were down 1.4%, while those of Ryanair were up 0.1%.

Paramount Global (PARA) has commenced a second round of layoffs as part of its larger plan to slash expenses, according to Tuesday media reports that cited an internal memo. With the latest cuts, 90% of total staff reductions will be complete, Paramount executives reportedly said in the internal memo. Paramount shares were up 0.5%.

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