Major Averages Decline as Merck and PepsiCo Report Positive Earnings

The major averages were trending downward near noon amid another wave of corporate earnings. Results were positive in spaces like pharmaceuticals and consumer products, with Merck and PepsiCo reporting upbeat quarterly earnings. Investors are still awaiting plenty more big corporate earnings reports, with results from big players like Alphabet and Amazon due later this week.In commodities, gold prices have surged again after two days of sharp declines, while oil prices are also on the rise ahead of API crude numbers set to be released this afternoon.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Elon Musk confirmed that, with The Information reporting that the deal price was $250BPayPalreported downbeat Q4 results and named HP Inc.'s, succeeding Alex ChrissDisney, with Disney Experiences chairman Josh D'AMaro named the media giant's next CEOPepsiCoreportedand announced a new $10B share repurchase programPalantirreportedand provided guidance for Q1 and FY262. WALL STREET CALLS:Palantirto Outperform at Baird and Northland after Q4 reportSoFi Technologiesto Overweight at JPMorganVisaand MasterCardto Outperform at DaiwaExxon Mobilto Underperform at BNP ParibasFigureto Underperform at BofA3. AROUND THE WEB:Grindr (GRND) is in early testing for a new AI subscription tier named "Edge", with pilot prices ranging from $80 to $200 a week, Business Insider reportsGoogleintends to spend $4.75B to help find enough electricity to run its fleet of data centers, WSJ reportsMetahas given $65M to two super PACs to elect California state candidates, regardless of party, whom it views as supportive of the AI and tech industry, Politico reportsSuppliers accustomed to catering to Apple'severy demand are gaining leverage as AI companies outduel the company in a race to secure components, WSJ saysBlackrock's GIP is partnering with EQT ABto acquire AES Corp., Bloomberg reports4. MOVERS:DaVitagains afterand providing guidance for FY26Palladyne AIincreases afterwith a U.S. defense prime contractorSigma Lithiumhigher in New York after BofAthe stock to NeutralGartnerfalls afterFuboTVlower afterand announcing a planned reverse stock split5. EARNINGS/GUIDANCEBall Corp., with EPS and revenue beating consensusIllinois Tool Works, with CEO Christopher O'Herlihy commenting, "ITW delivered a solid finish to the year"ATIand provided guidance for FY26TransDigmand raised its guidance for FY26Merck (MRK)and provided guidance for FY26INDEXES:Near midday, the Dow was down 0.20%, or 101.26, to 49,306.40, the Nasdaq was down 1.37%, or 324.09, to 23,268.02, and the S&P 500 was down 0.72%, or 50.06, to 6,926.38.