The Nasdaq Composite and S&P 500 were down, while the Dow Jones was up in late-morning trading Wednesday, as investors moved out of tech stocks and digested new jobs data.

ADP's monthly measure of private payrolls showed a 22,000 increase in January, below the consensus estimate from a Bloomberg survey of 45,000.

In company news, Eli Lilly (LLY) reported Q4 non-GAAP earnings Wednesday of $7.54 per diluted share, up from $5.32 a year earlier and above the FactSet consensus analyst estimate of $6.91. Fourth-quarter revenue was $19.29 billion, up from $13.53 billion a year earlier and above the FactSet consensus of $17.94 billion. For 2026, the company said it expects non-GAAP EPS of $33.50 to $35.00 on revenue of $80 billion to $83 billion. Analysts polled by FactSet expect non-GAAP EPS of $33.04 on $77.64 billion in revenue. Eli Lilly shares were up 9.7% around midday.

Uber Technologies (UBER) reported Q4 non-GAAP earnings Wednesday of $0.71 per diluted share, up from $0.56 a year earlier but below the FactSet consensus of $0.85. Fourth-quarter revenue was $14.37 billion, up from $11.96 billion a year ago and above the FactSet consensus of $14.32 billion. For Q1, the company said it expects non-GAAP EPS of $0.65 to $0.72. Analysts polled by FactSet expect $0.81. Uber said Wednesday in a regulatory filing that Chief Financial Officer Prashanth Mahendra-Rajah is resigning from his role, effective Feb. 16. Uber shares were down 3.6%.

Advanced Micro Devices (AMD) reported Q4 adjusted earnings late Tuesday of $1.53 per diluted share, up from $1.09 a year earlier and above the FactSet consensus of $1.32. Fourth-quarter revenue was $10.27 billion, up from $7.66 billion a year ago and above the FactSet consensus of $9.67 billion. For Q1, the company said it expects revenue of about $9.80 billion, plus or minus $300 million. Analysts expect $9.42 billion. AMD shares were down 15.9%.

Texas Instruments (TXN) said Wednesday it has agreed to acquire Silicon Laboratories (SLAB) for $231 per share in an all-cash deal for a total enterprise value of $7.5 billion. The deal is expected to close H1 2027. Texas Instrument shares were down 1.0%, while Silicon Labs shares were up 48.5%.

Boston Scientific (BSX) reported Q4 adjusted earnings Wednesday of $0.80 per share, up from $0.70 a year earlier and above the FactSet consensus of $0.78. Fourth-quarter revenue was $5.29 billion, up from $4.56 billion a year ago and above the FactSet consensus of $5.28 billion. For Q1, the company said it expects adjusted EPS of $0.78 to $0.80. Analysts expect $0.80. For full-year 2026, Boston Scientific said it expects adjusted EPS of $3.43 to $3.49. Analysts polled by FactSet expect $3.47. Boston Scientific shares were down 15.5%.

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