The Dow Jones Industrial Average and the S&P 500 Index were both up in late-morning trading on Wednesday, while the Nasdaq Composite was down slightly, as the October consumer price index matched analysts' expectations.

In company news, Charter Communications (CHTR) said Wednesday that it has entered into a definitive agreement to acquire Liberty Broadband (LBRDA, LBRDK) in an all-stock transaction. Under the terms of the agreement, each holder of Liberty series A common stock, series B common stock and series C common stock will receive 0.236 of a share of Charter common stock for each Liberty share held, with cash to be issued in lieu of fractional shares. Charter shares were up 4.8% around midday, while those of Liberty Broadband were down 4.3%.

Spirit Airlines (SAVE) may seek bankruptcy protection after merger discussions with Frontier Group Holdings (ULCC) fell apart, multiple media outlets reported late Tuesday. Spirit said in a filing late Tuesday that it was unable to submit its Q3 earnings report, citing efforts to restructure obligations that have diverted time and resources from the company's processes for reviewing and completing its financial statements. Spirit shares were down 56.8%.

Meta Platforms (META) won a victory in an antitrust suit it is facing when US District Judge James Boasberg narrowed the case brought by the Federal Trade Commission. Meta shares were down 0.8%.

Coterra Energy (CTRA) said Wednesday it has signed two separate agreements to acquire certain assets of Franklin Mountain Energy and Avant Natural Resources for a total consideration of $3.95 billion. The total consideration consists of $2.95 billion in cash and $1 billion in Coterra stock. The cash portion will be funded from available funds and borrowings, the company said. The deals are expected to close in Q1 2025. Corterra shares were up 1.8%.

The US is looking into Russian clients that UBS (UBS) acquired through its Credit Suisse acquisition, Reuters reported Wednesday, citing three people familiar with the matter. The Office of Foreign Assets Control had recently written to UBS seeking information, the report said. UBS shares were down 1.0%.

Tesla (TSLA) is recalling 2,431 Cybertrucks due to an issue in the drive inverter that may cause potential loss of drive power to the wheels, the National Highway Traffic Safety Administration said Tuesday. Cybertrucks produced from Nov. 6, 2023, through July 30 are included in the recall, Tesla said in its report to the NHTSA. Tesla shares were down 0.4%.

General Motors (GM) will recall 461,839 vehicles, including certain 2020 to 2022 Chevrolet Silverado, GMC Sierra, 2021 Cadillac Escalade, Chevrolet Tahoe and GM Yukon models due to an issue with a transmission control valve, Reuters reported Wednesday, citing the NHTSA. Shares of GM were up 1.1%.

Rivian Automotive's (RIVN) shares soared Wednesday after it revealed a new joint venture with Volkswagen Group on Tuesday that is valued at up to $5.8 billion. The JV, named Rivian and VW Group Technology, will likely be rolled out on Nov. 13 and will seek to create software and electronic architectures and scale EV platforms, the companies said. Rivian shares were up 16.4%.