All three major US stock indexes were up in late-morning trading Tuesday, as oil prices slid despite new attacks in the Strait of Hormuz.

In company news, PayPal (PYPL) reported Q1 non-GAAP earnings Tuesday of $1.34 per diluted share, up from $1.33 a year earlier and above the FactSet consensus estimate of $1.27. Net Q1 revenue was $8.35 billion, up from $7.79 billion a year ago and above the FactSet consensus of $8.05 billion. For Q2, the company said it expects to post a roughly 9% decline in non-GAAP EPS from $1.40 a year earlier to about $1.27. Analysts polled by FactSet expect $1.34. Additionally, PayPal is planning to cut around 20% of its workforce over the next two to three years, Bloomberg reported Tuesday, citing a person familiar with the matter. PayPal shares were down 8.1% around midday.

Palantir Technologies (PLTR) reported Q1 adjusted earnings late Monday of $0.33 per diluted share, up from $0.13 a year earlier and above the FactSet consensus of $0.28. First-quarter revenue was $1.63 billion, up from $883.9 million a year ago and above the FactSet consensus of $1.54 billion. For Q2, Palantir said it expects revenue of $1.797 billion to $1.801 billion, above the FactSet consensus of $1.68 billion. For full-year 2026, the company said it expects revenue of $7.65 billion to $7.66 billion, above the FactSet consensus of $7.24 billion. Palantir shares were down 6.3%.

Alphabet (GOOG, GOOGL) will raise at least 9 billion euros ($10.5 billion) from its biggest ever euro-denominated bond sale, Bloomberg reported Tuesday, citing a person familiar with the matter. Separately, Alphabet's Google DeepMind, Microsoft (MSFT) and xAI signed new agreements with the Center for AI Standards and Innovation to assess AI security issues before they are released, CAISI said Tuesday. Alphabet's Class C shares were up 1.4%, while its Class A shares were up 1.5%. Microsoft shares were down 0.8%.

Apple (AAPL) has held early talks with Intel (INTC) and Samsung Electronics on producing key device processors in the US, Bloomberg reported Tuesday, citing people familiar with the matter. Apple shares were up 1.1%, and Intel shares were up 13.8%.

Shopify (SHOP) reported a Q1 loss Tuesday of $0.45 per diluted share, narrowing from a loss of $0.53 a year earlier. Analysts surveyed by FactSet expected earnings of $0.24. First-quarter revenue was $3.17 billion, up from $2.36 billion a year ago and above the FactSet consensus of $3.11 billion. Shopify shares were down 11%.

Pfizer (PFE) reported Q1 adjusted earnings Tuesday of $0.75 per diluted share, down from $0.92 a year earlier but above the FactSet consensus of $0.72. First-quarter revenue was $14.45 billion, up from $13.72 billion a year ago and above the FactSet consensus of $13.84 billion. The company reaffirmed its full-year 2026 EPS and revenue guidance ranges of $2.80 to $3.00 and $59.5 billion to $62.5 billion, respectively. Analysts polled by FactSet expect $2.96 and $61.38 billion, respectively. Pfizer shares were down 0.7%.

Price: 46.33, Change: -4.06, Percent Change: -8.06