The S&P 500 and Nasdaq Composite were down in late-morning trading Thursday, while the Dow Jones Industrial Average was up slightly, as Taiwan Semiconductor Manufacturing's (TSM), or TSMC's, latest earnings report dragged down chip stocks.
In company news, TSMC reported Q2 earnings Thursday of 27.25 New Taiwan dollars ($0.86) per diluted share, up from NT$15.36 a year earlier and above the FactSet consensus analyst estimate of NT$24.20. Net Q2 revenue was NT$1.270 trillion, up from NT$933.79 billion a year ago and above the FactSet consensus of NT$1.266 trillion. For Q3, the chipmaker said it expects revenue of $44.6 billion to $45.8 billion, above the FactSet consensus of $43.21 billion. Separately, TSMC has reserved an additional $100 billion to increase its chipmaking capacity in the US, raising its total planned investment to $265 billion, Bloomberg reported Thursday, citing a US official. TSMC shares were down 2.1% around midday.
UnitedHealth Group (UNH) reported Q2 adjusted earnings Thursday of $6.38 per diluted share, up from $4.08 a year earlier and above the FactSet consensus of $4.91. Second-quarter revenue was $112.03 billion, up from $111.62 billion a year ago and above the FactSet consensus of $110.81 billion. For 2026, the insurance company raised its adjusted EPS guidance to $19.50 to $20 from greater than $18.25. Analysts expect $18.49. UnitedHealth shares were up 3.3%.
Abbott Laboratories (ABT) reported Q2 adjusted earnings Thursday of $1.31 per diluted share, up from $1.26 a year earlier and above the FactSet consensus of $1.28. Second-quarter revenue was $12.59 billion, up from $11.14 billion a year ago and above the FactSet consensus of $12.52 billion. For Q3, Abbott said it expects adjusted diluted EPS of $1.38 to $1.46, compared to the FactSet consensus of $1.42. For 2026, the company raised its adjusted EPS guidance to $5.45 to $5.60 from $5.38 to $5.58. Analysts polled by FactSet expect $5.47. Abbott shares were up 11%.
Uber Technologies (UBER) on Thursday said it has entered into a business combination agreement with Delivery Hero in a deal with an equity value of $14.8 billion, or $13.7 billion adjusted for Uber's prior stake purchases. Under the terms of the deal, Delivery Hero shareholders will receive cash consideration of 41.50 euros ($47.60) per share. Uber shares were up 1.6%.
GE Aerospace (GE) reported Q2 adjusted earnings Thursday of $2.02 per share, up from $1.66 a year earlier and above the FactSet consensus of $1.86. Second-quarter revenue was $13.35 billion, up from $11.02 billion a year ago and above the FactSet consensus of $11.87 billion. For 2026, the company raised its adjusted EPS guidance to $7.65 to $7.85 from $7.10 to $7.40. Analysts polled by FactSet expect $7.56. GE shares were down 4.3%.
Price: 410.53, Change: -8.95, Percent Change: -2.13
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