All three major US stock indexes were down in late-morning trading Thursday with the S&P 500 at risk of having its three-day winning streak snapped.

In company news, Walmart (WMT) Chief Executive Doug McMillon said Thursday the company will have to raise prices due to President Donald Trump's tariffs. The comment came on the company's fiscal Q1 earnings call after it reported adjusted earnings of $0.61 per diluted share, up from $0.60 a year earlier and above the FactSet consensus analyst estimate of $0.58. Fiscal Q1 revenue was $165.61 billion, up from $161.51 billion a year ago but below the FactSet consensus of $165.63 billion. For fiscal Q2, Walmart expects net sales to increase 3.5% to 4.5%. Walmart shares were down 1.5% around midday.

UnitedHealth Group (UNH) is facing a criminal investigation by the US Department of Justice over possible Medicare fraud tied to its Medicare Advantage operations, The Wall Street Journal reported Thursday, citing people familiar with the matter. UnitedHealth shares were down 15.5%.

Dick's Sporting Goods (DKS) has agreed to acquire Foot Locker (FL) in a deal that implies an equity value of $2.4 billion and an enterprise value of $2.5 billion, the companies said Thursday. Under the terms of the deal, Foot Locker shareholders can elect to receive either $24 in cash or 0.1168 shares of Dick's common stock for each share of Foot Locker they own, the companies said. The transaction is slated to be completed in H2. Shares of Dick's were down 14.1%, while those of Foot Locker were up 84.7%.

Tesla (TSLA) permitted customers to lease its Model 3 sedans from 2019 through last November but forced them to return the vehicles for use in its planned "robotaxi" network, but the EV maker instead flipped many of the cars to new buyers, Reuters reported Thursday, citing four people familiar with the matter. Tesla shares were down 2.4%.

President Trump said he asked Apple (AAPL) CEO Tim Cook to move iPhone production to the US from India, according to media reports. Apple shares were roughly flat.

Coinbase (COIN) said Thursday that cybercriminals attempted to extort $20 million from the company after recruiting overseas customer support agents to leak user data. The crypto exchange refused the $20 million extortion demand and instead offered a $20 million reward for information leading to the arrest and conviction of those involved, the company said. Coinbase shares were down 5.8%.

Price: 95.61, Change: -1.22, Percent Change: -1.26