The Nasdaq Composite was down around midday trading Thursday after Nvidia (NVDA) released its highly anticipated earnings results late Wednesday.

President Donald Trump said Thursday on Truth Social that the proposed tariffs on Canada and Mexico will go into effect on March 4. Trump also said China would be charged an additional 10% on the same date and that the April 2 reciprocal tariff date "will remain in full force and effect."

Nvidia reported fiscal Q4 non-GAAP net income late Wednesday of $0.89 per diluted share, up from $0.52 a year earlier and above the consensus estimate of analysts surveyed by FactSet calling for $0.85. Fiscal Q4 revenue was $39.33 billion, up from $22.10 billion in the year-ago period and above the FactSet consensus of $38.10 billion. For fiscal Q1, Nvidia expects $43 billion in revenue, plus or minus 2%, compared to the FactSet estimate of $42.07 billion. Nvidia shares were down 4% around midday.

Microsoft (MSFT) on Thursday called on the Trump administration to overhaul artificial intelligence chip export control rules proposed under the previous administration. The Biden rule limits the ability of American tech companies to build and expand AI data centers in US ally nations like India and Israel, Vice Chair and President Brad Smith said in a blog post. Microsoft shares were down 0.5%.

Salesforce (CRM) late Wednesday reported fiscal Q4 non-GAAP net income of $2.78 per diluted share, up from $2.29 a year earlier and above the FactSet consensus of $2.61. Fiscal Q4 revenue was $9.99 billion, up from $9.29 billion in the year-ago period but below the FactSet consensus of $10.04 billion. For fiscal Q1, Salesforce projects non-GAAP EPS of $2.53 to $2.55 on $9.71 billion to $9.76 billion in revenue. Analysts expect $2.62 non-GAAP EPS on $9.91 billion in revenue. For fiscal 2026, the company expects non-GAAP EPS of $11.09 to $11.17 on revenue of $40.5 billion to $40.9 billion. Analysts expect $11.20 non-GAAP EPS on $9.91 billion in revenue. Salesforce shares were down 1.5%.

Warner Bros. Discovery (WBD) reported a Q4 net loss Thursday of $0.20 per diluted share, widening from a loss of $0.16 a year earlier and worse than the FactSet consensus of a loss of $0.02. Fourth-quarter revenue was $10.03 billion, down from $10.28 billion a year earlier and below the FactSet consensus of $10.18 billion. Max, which the company operates, saw direct-to-consumer revenue improve 5% year over year to $2.65 billion. Subscriber-related revenue advanced 10% to $2.55 billion and global subscribers grew to 116.9 million from 97.7 million last year. Warner Bros. expects subscriber growth to continue to grow throughout the year, and it has a "clear path" to reach at least 150 million global subscribers by the end of 2026. Shares of Warner Bros. were up 9.7%.

A buyout of Walgreens Boots Alliance (WBA) would set the stage for a three-way split of the company, with Executive Chair Stefano Pessina keeping a notable stake under the agreement, the Financial Times reported Thursday, citing sources with knowledge of the details. The funding for taking the company private is not expected to be difficult following weeks of deal discussions with Sycamore Partners, the sources reportedly said. Walgreens shares were up 4.1%.

Amazon.com's (AMZN) Amazon Web Services on Thursday debuted Ocelot, a new quantum computing chip that it says can reduce the costs of implementing quantum error correction by as much as 90%. Amazon shares were down 0.3%.

Price: 126.07, Change: -5.21, Percent Change: -3.97