All three major US stock indexes were down in late-morning trading Friday as investors processed the release of January's jobs report earlier in the day that showed below-expected figures.

The January employment report showed that nonfarm payrolls rose by 143,000, below the 175,000 jobs gain expected in a survey compiled by Bloomberg as of 7:35 am ET. December and November payrolls were revised upward to gains of 307,000 and 261,000, respectively. The unemployment rate fell to 4.0% from 4.1% in December, compared to an expectation of no change, and the labor force participation rate rose to 62.6% in January from 62.5% in the prior month.

In company news, Amazon.com (AMZN) reported Q4 earnings late Thursday of $1.86 per diluted share, up from $1 a year earlier and above the consensus estimate of analysts surveyed by FactSet calling for $1.49. Q4 net sales were $187.79 billion, up from $169.96 billion in the year-ago period and above the FactSet consensus estimate of $187.31 billion. For Q1, the company expects net sales of $151 billion to $155.5 billion, while analysts surveyed by FactSet expect $158.56 billion. Amazon expects capital expenditures to exceed $100 billion in 2025, Chief Executive Andy Jassy said Thursday during the company's earnings call. The majority of the spending will be directed toward the development of artificial intelligence, particularly for its Amazon Web Services unit, according to the company. Shares of Amazon were down 4% around midday.

Microsoft-backed (MSFT) OpenAI is set to receive a $40 billion primary investment from SoftBank at a $260 billion pre-money valuation, CNBC's David Faber reported Friday, citing sources. The new funding would make SoftBank OpenAI's top backer, usurping Microsoft, according to the report. Microsoft shares were down 1.2%.

SolarWinds (SWI) said Friday it has entered into a definitive agreement to be acquired by Turn/River Capital in an all-cash deal for $18.50 per share or about $4.4 billion. Shares of SolarWinds were up 23%.

Aspen Technology's (AZPN) largest minority investor, Elliott Investment Management, said Friday it doesn't intend to tender its shares at the current price in connection with Emerson Electric's (EMR) proposed acquisition of all of Aspen's shares it doesn't already own. Aspen shares were up 3.2%, while those of Emerson were down 1.7%.

Alibaba Group Holding (BABA) has denied rumors that it plans to invest in Chinese AI startup DeepSeek, news outlets reported Friday, citing a post on Chinese social media platform WeChat by an Alibaba executive. Alibaba shares were up 3.9%.

Pinterest (PINS) reported Q4 non-GAAP earnings late Thursday of $0.56 per diluted share, up from $0.53 a year earlier but below the FactSet consensus estimate of $0.64. Q4 revenue was $1.15 billion, up from $981.3 million in the year-ago period and above the FactSet consensus of $1.14 billion. The company said it expects Q1 revenue between $837 million and $852 million, above the FactSet consensus of $835.7 million. Pinterest shares were up 17.8%.

Bill Ackman said Pershing Square started acquiring a position in Uber Technologies (UBER) in early January and currently owns 30.3 million shares, Bloomberg reported Friday. Uber shares were trading 7.3% higher.

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