The S&P 500 and the Nasdaq Composite were down, while the Dow Jones Industrial Average was up slightly in late-morning trading Monday after President Donald Trump announced another set of tariffs over the weekend.

President Trump said Sunday on Truth Social he plans to impose a 100% tariff on movies made outside of the US, claiming the domestic film industry has been threatened by incentives offered to film and produce movies abroad. Shares of Netflix (NFLX) were down 1.6% around midday, while those of Walt Disney (DIS) were edging 0.2% higher and Warner Bros. Discovery (WBD), Paramount Global (PARA) and Amazon.com (AMZN) shares were down 1.3%, 1.1% and 1.5%, respectively.

Berkshire Hathaway (BRK.A, BRK.B) reported Q1 earnings Saturday of $3,200 per average equivalent class A share, down from $8,825 a year earlier. First-quarter revenue was $89.73 billion, down from $89.87 billion a year ago. Chairman and Chief Executive Warren Buffett said he is stepping down and will be succeeded by Vice Chairman Greg Abel at the end of 2025. Buffett will remain chairman of the board. Berkshire class A and class B shares were down 3.8% and 4%, respectively.

Sunoco (SUN) said Monday it has agreed to acquire all outstanding shares of Parkland Corporation for about $9.1 billion in cash, equity and assumed debt. Under the deal terms, Sunoco will form a new publicly traded company named SUNCorp, which will hold limited partnership units of Sunoco. The transaction is expected to close in H2, subject to customary closing conditions. Sunoco shares were down 5.9%.

Skechers U.S.A. (SKX) said Monday it has agreed to be acquired by 3G Capital for $63 per share in cash, a 30% premium to the company's 15-day volume-weighted average stock price. The transaction included an option for Skechers shareholders to instead receive $57.00 per share in cash and one unlisted, non-transferable equity unity in a newly formed, privately held company following the close of the deal, which is expected to occur in Q3, Skechers said. Skechers shares were up 24.8%.

Apple (AAPL) plans to sell investment-grade bonds Monday for the first time in two years, Bloomberg reported, citing a person familiar with the matter. The tech giant is planning to issue corporate debt in as many as four parts, according to the report. Apple shares were down 3%.

India has offered the US zero tariffs on auto components, steel and pharmaceuticals on a reciprocal basis for up to a certain number of imports, Bloomberg reported Monday, citing people familiar with the matter. Beyond the import threshold, incoming industrial goods would receive the regular level of duties, the people reportedly told Bloomberg. Shares of Ford Motor (F), General Motors (GM) and Stellantis (STLA) were down 1.1%, up 0.6% and down 0.8%, respectively. Shares of US Steel were down 2%. Shares of Pfizer (PFE), Johnson & Johnson (JNJ) and AbbVie (ABBV) were down 0.8%, 0.5% and 1.2%, respectively.

Price: 54.72, Change: -3.22, Percent Change: -5.56