All three major US stock indexes were down in late-morning trading, as oil prices rose amid the ongoing conflict between the US and Iran.

In company news, Microsoft (MSFT) and Adobe (ADBE) are being suspended from the Permanent Labor Certification Program due to "multiple active federal investigations," US Secretary of Labor Keith Sonderling said Thursday at a press conference. Cognizant Technology (CTSH), Infosys (INFY), Wipro (WIT), Tata, HCL and Capgemini were also suspended from the program. Microsoft shares were up 0.1% around midday, while Adobe shares were down 0.3%. Shares of Cognizant, Infosys and Wipro were down 1.5%, 3.8% and 3.9%, respectively.

Starbucks (SBUX) has explored a takeover of Chipotle Mexican Grill (CMG) and has worked with advisers in recent months on a potential proposal, the Financial Times reported Thursday, citing people familiar with the matter. The current status of Starbucks' plans and whether it has submitted a formal offer to Chipotle could not be determined, the report said. Starbucks shares were down 3.1%, while Chipotle shares were up 6.9%.

PepsiCo (PEP) reported fiscal Q3 core net income Thursday of $2.34 per diluted share, up from $2.29 a year earlier and above the FactSet consensus analyst estimate of $2.29. Fiscal Q3 net revenue was $25.27 billion, up from $23.94 billion a year ago and above the FactSet consensus of $24.95 billion. Pepsi shares were up 1%.

Goldman Sachs (GS) is preparing more than $500 million in equity awards to about 20 senior executives, Bloomberg reported Thursday, citing filings and people familiar with the matter. Chief Executive David Solomon is expected to receive over $100 million, the report said. Goldman shares were down 0.8%.

Devon Energy (DVN) has agreed to sell its Eagle Ford assets in Texas to Crescent Energy (CRGY) for $4.2 billion in cash, Devon Energy said Thursday. The deal is expected to close by the end of the year. In addition, Crescent launched a $1 billion underwritten public offering of Class A shares to fund part of the acquisition, the company said. Devon shares were up 2.0%, while Crescent shares were down 4.3%.

Viatris (VTRS) has entered into a definitive agreement to acquire Pacira BioSciences (PCRX) for an aggregate equity value of $1.65 billion in cash, or $36.50 per share. The deal is expected to close by the end of the year. Viatris shares were down 2.3%, while Pacira shares were up 44.0%.

Price: 90.82, Change: -2.76, Percent Change: -2.95