All three major US stock indexes were up in late-morning trading Tuesday, as investors returned to the software space after a sell-off last week.

In company news, S&P Global (SPGI) reported Q4 adjusted earnings Tuesday of $4.30 per diluted share, up from $3.77 a year earlier but below the FactSet consensus estimate of $4.33. Fourth-quarter revenue was $3.92 billion, up from $3.59 billion a year ago and above the FactSet consensus of $3.91 billion. For 2026, the company said it expects adjusted EPS of $19.40 to $19.65 on revenue growth of 6.6% to 8.6%. Analysts polled by FactSet expect adjusted EPS of $20.02. S&P Global shares were down 5.9% around midday.

Alphabet (GOOG, GOOGL) is offering sterling and Swiss franc-denominated bonds, including a 100-year sterling bond, following its $20 billion debt deal in the US, Bloomberg reported Tuesday, citing sources familiar with the matter. Later, Bloomberg reported that Alphabet raised over $3.93 billion in its Swiss franc bond sale. Alphabet's Class A and Class C shares were both down 1.9%.

Spotify Technology (SPOT) reported Q4 earnings of 4.43 euros ($5.27) per diluted share, up from 1.76 euros a year earlier and above the FactSet consensus of 2.74 euros. Fourth-quarter revenue was 4.53 billion euros, up from 4.24 billion euros and above the FactSet consensus of 4.52 billion euros. For Q1, the company said it expects revenue of 4.5 billion euros. Analysts polled by FactSet expect 4.58 billion euros. Spotify shares were up 16%.

Coca-Cola (KO) reported Q4 adjusted earnings Tuesday of $0.58 per share, up from $0.55 a year earlier and above the FactSet consensus of $0.56. Fourth-quarter revenue was $11.82 billion, up from $11.54 billion a year ago but below the FactSet consensus of $12.05 billion. Coca-Cola shares were down 2%.

Ferrari (RACE) reported Q4 adjusted earnings Tuesday of 2.14 euros ($2.55) per diluted share, unchanged from a year earlier but above the FactSet consensus of 2.10 euros. Fourth-quarter net revenue was 1.80 billion euros, up from 1.74 billion euros a year ago and above the FactSet consensus of 1.77 billion euros. For 2026, the company said it expects adjusted EPS of at least 9.45 euros on about 7.50 billion euros in net revenue. Analysts polled by FactSet expect adjusted EPS of 9.48 euros on revenue of 7.51 billion euros. Ferrari shares were up 9.4%.

Paramount Skydance (PSKY) said Tuesday it has enhanced its $30 per share, all-cash offer for Warner Bros. Discovery (WBD) with a $0.25 per share "ticking fee" that is payable to Warner Bros. shareholders for each quarter its acquisition has not closed beyond Dec. 31. Paramount also said it will fund the $2.8 billion termination fee payable to Netflix (NFLX). Paramount shares were up 1.4%, while Warner Bros. shares were up 2.2%, and Netflix shares were up 2.4%.

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