All three major US stock indexes were up in late-morning trading Wednesday as investors wait for more news on President Donald Trump's tariffs.

In company news, Nvidia (NVDA) shares rose in early-morning trading Wednesday, lifting the tech company's market cap past $4 trillion, the first company ever to hit that milestone. Nvidia shares were up 2.1% around midday.

Merck (MRK) has agreed to acquire Verona Pharma (VRNA) for $107 per American depositary share for a total transaction value of about $10 billion, the companies said Wednesday. The deal, which is expected to close in Q4, has received approvals from each company's board but is still subject to Verona shareholder approval. Merck shares were up 2.1%, while those of Verona were up nearly 21%.

Hims & Hers Health (HIMS) said Wednesday it plans to expand into Canada in 2026, introducing its weight-loss program alongside the anticipated launch of generic semaglutide. Hims shares were up 1.6%.

Meta Platforms (META) acquired close to a 3% stake in EssilorLuxottica, maker of Ray-Ban glasses, for $3.5 billion to advance the development of artificial intelligence glasses, Bloomberg reported Tuesday, citing people familiar with the matter. The tech giant is weighing future investments in the company to increase its stake to 5%, the report said, citing the people. Meta shares were up 2%.

UnitedHealth Group's (UNH) Medicare billing practices are under investigation by the US Justice Department's criminal healthcare-fraud unit, The Wall Street Journal reported Wednesday, citing people familiar with the matter. The DOJ is looking into how the healthcare giant asked doctors and nurses to gather diagnoses that boosted its payments, the report said. UnitedHealth shares were down 2.6%.

Starbucks (SBUX) has received proposals from prospective investors eyeing a controlling stake in its China operation, Bloomberg reported Wednesday, citing people familiar with the matter. Starbucks shares were down 0.2%.

Price: 163.02, Change: +3.02, Percent Change: +1.89