All three major US stock indexes were up slightly in late-morning trading Wednesday, as investors await the decision by the Federal Reserve's rate-setting committee in the afternoon.

In company news, Amazon.com (AMZN) said Wednesday it will eliminate about 16,000 roles across the company. Most US-based workers whose roles are impacted will be given about 90 days to seek a new role internally, while timing for international roles will vary based on country-specific requirements. Amazon shares were down 0.8% around midday.

ASML (ASML) reported Q4 earnings Wednesday of 7.34 euros ($8.80) per diluted share, up from 6.84 euros a year earlier but below the FactSet consensus analyst estimate of 7.58 euros. Fourth-quarter sales were 9.72 billion euros, up from 9.26 billion euros a year ago and above the FactSet consensus of 9.58 billion euros. For Q1, ASML expects sales in a range of 34 billion euros to 39 billion euros. Analysts polled by FactSet expect 35.29 billion euros. The company also raised its interim dividend to 1.60 euros per share from 1.55 euros. ASML launched a new share buyback program of up to 12 billion euros to be executed by the end of 2028, with 2 million shares intended to cover an employee share plan. Lastly, the company said it expects to cut up to 1,7000 jobs in the Netherlands and the US. ASML shares were down 2.1%.

Starbucks (SBUX) reported fiscal Q1 non-GAAP earnings Wednesday of $0.56 per diluted share, down from $0.69 a year earlier and below the FactSet consensus of $0.59. Fiscal Q1 revenue was $9.92 billion, up from $9.40 billion a year ago and above the FactSet consensus of $9.65 billion. For fiscal 2026, the company said it expects adjusted EPS of $2.15 to $2.40. Analysts expect $2.35. Starbucks shares were up 2.1%.

Texas Instruments (TXN) reported Q4 earnings late Tuesday of $1.27 per diluted share, down from $1.30 a year earlier and below the FactSet consensus of $1.29. Fourth-quarter revenue was $4.42 billion, up from $4.01 billion a year ago but below the FactSet consensus of $4.44 billion. For Q1, the company said it expects EPS of $1.22 to $1.48 on revenue of $4.32 billion to $4.68 billion. Analysts expect EPS of $1.26 and revenue of $4.42 billion. Texas Instruments was up 7.9%.

Amphenol (APH) reported Q4 adjusted earnings Wednesday of $0.97 per diluted share, up from $0.55 a year earlier and above the FactSet consensus of $0.93. Fourth-quarter net sales were $6.44 billion, up from $4.32 billion a year ago and above the FactSet consensus of $6.19 billion. For Q1, the company said it expects adjusted EPS of $0.91 to $0.93. Analysts polled by FactSet expect $0.89. First-quarter revenue is anticipated to be between $6.90 billion and $7.0 billion, while analysts expect $6.55 billion. Amphenol shares were down 11.1%.

Price: 243.07, Change: -1.61, Percent Change: -0.66