All three major US stock indexes were down in late-morning trading as Treasury yields surged, with the 10-year hitting a 24-year high.

In company news, Micron Technology (MU) reported fiscal Q4 adjusted earnings late Wednesday of $33.42 per diluted share, up from $3.03 a year earlier and above the FactSet consensus of $31.72. Fiscal Q4 revenue was $54.23 billion, up from $11.32 billion a year ago and above the FactSet consensus of $51.33 billion. For fiscal Q1, the company expects adjusted EPS of $37.15 to $39.15 on revenue of $60 billion to $63 billion. Analysts polled by FactSet expect $35.47 and $57.40 billion, respectively. Micron shares were down 1.6% around midday.

Broadcom (AVGO) has agreed to lend Amazon-backed (AMZN) Anthropic up to $42 billion to finance infrastructure spending under a partnership covering chip supply, equipment and financing, Reuters reported Thursday, citing Anthropic's IPO prospectus documents. The financing could cover about one-third of Anthropic's $125.2 billion five-year TPU computing lease commitment, with Anthropic expected to become Broadcom's largest compute customer in 2027, according to the report. Broadcom and Amazon shares were each down 1.0%.

Accenture (ACN) reported fiscal Q4 EPS on Thursday of $3.29, up from $2.25 a year earlier and above the FactSet consensus of $3.18. Fiscal Q4 revenue was $18.68 billion, up from $17.60 billion a year ago and above the FactSet consensus of $18.03 billion. For fiscal Q1, the company expects revenue of $18.95 billion to $19.60 billion, compared with the FactSet consensus of $19.35 billion. For fiscal 2027, the company expects revenue growth of 3% to 6% in local currency and EPS of $14.39 to $14.81. Analysts expect $14.64 and $76.40 billion, respectively. For fiscal 2027, the company expects to return at least $9.5 billion in cash to shareholders. Accenture shares were up 18.2%.

Corteva (CTVA) said Thursday a federal court in California denied its request to temporarily block the planned separation of its seed business into a new publicly traded company called Vylor (VYLR). In a separate announcement, Vylor said it completed its separation from Corteva and is set to begin trading as an independent public company on the New York Stock Exchange. Vylor said it's targeting about $11.2 billion to $11.9 billion in net sales, and $3.3 billion to $3.7 billion in operating EBITDA by 2029. The company said it also expects licensing revenue to exceed $500 million in 2027 and $1 billion by 2035. Corteva shares were down 84.3% while Vylor shares were up 7%.

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