The Dow Jones Industrial Average was down in late-morning trading Wednesday, while the S&P 500 Index and Nasdaq Composite were up, as the International Energy Agency announced a record release of oil reserves.

The IEA said Wednesday its 32 member countries agreed to release a record 400 million barrels of oil from their emergency reserves to combat disruptions in markets stemming from the war in Iran.

In company news, Oracle (ORCL) reported fiscal Q3 adjusted earnings late Tuesday of $1.79 per diluted share, up from $1.47 a year earlier and above the FactSet consensus analyst estimate of $1.70. Fiscal Q3 revenue was $17.19 billion, up from $14.13 billion a year ago and above the FactSet consensus of $16.92 billion. For fiscal Q4, the company said it expects adjusted EPS of $1.96 to $2 and revenue growth of 19% to 21%. Analysts polled by FactSet expect adjusted EPS of $1.93. Oracle shares were up 10.4% around midday.

Amazon.com (AMZN) is raising 14.5 billion euros ($16.8 billion) in its first-ever offering in the euro bond market, the largest corporate bond ever sold in the currency, Bloomberg reported Wednesday, citing people familiar with the matter. Separately, Uber Technologies (UBER) has signed a strategic partnership with Amazon's Zoox to deploy purpose-built Zoox robotaxis on its platform, the companies said. Amazon shares were down 0.7%, while Uber shares were up 2.6%.

Cintas (CTAS) and UniFirst (UNF) said Wednesday they have entered a definitive agreement under which Cintas will acquire UniFirst in a cash-and-stock deal valued at about $5.5 billion. The deal is expected to close in H2, subject to regulatory and shareholder approvals, the companies said. Cintas shares were up 2.3%, while UniFirst shares were up 8.7%.

Nvidia (NVDA) said it will invest $2 billion in Nebius (NBIS) as part of a strategic partnership to develop hyperscale cloud infrastructure for the AI market. Nvidia shares were up 0.6%, while Nebius shares were up 14.6%.

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