U.S. indices were on the rise during midday trading Tuesday, ahead of San Francisco Federal Reserve Bank President John Williams' speech on the economic outlook.
Crude oil prices were falling after the long holiday weekend. Benchmark West Texas Intermediate and Brent crude oil were showing losses of 0.2% and 1.6%, respectively.
PayPal Holdings (PYPL) shares were up during the trading session after the company announced it was expanding its partnership with MasterCard (MA) to allow customers to use PayPal's payment services in stores. PayPal will let customers make MaterCard their automatic payment option, and consumers and small businesses will now be able to cash out funds from PayPal accounts immediately onto a MasterCard debit card, the company said in a statement.
"The more interesting part of the arrangement is MasterCard enabling PayPal's Braintree and Venmo products with its MasterPass and MasterCard Send solutions," wrote portfolio managers Chris Versace and Bob Lang in a note to subscribers on Tuesday. "The pairing of those PayPal services with MasterCard's own offerings simplifies a consumer's ability to checkout at a time when many are frustrated by the 'swipe to chip' transition," they added.
Shares of Intel (INTC) were rising slightly during midday trading following news that it will acquire Movidius, a semiconductor startup. Terms of the agreement were not disclosed. The Wall Street Journal reports that the deal would boost Intel's artificial intelligence portfolio, as its looks to become a big player in that area. Movidius' customers include Alphabet (GOOGL) and Lenovo Group, which use its technology in drones, security cameras, virtual reality headsets and other devices, the Journal reported. (GOOGL is a holding in the Action Alerts PLUS portfolio).
Marvell Technology Group (MRVL) shares were down by more than 3% during midday trading after the company posted mixed quarterly results. Earnings of $0.18 a share beat analysts' expectations of $0.11. But revenue of $626.4 million for the period fell short of Wall Street's forecast of $629.6 million. For the current quarter, Marvell expects earnings to range from $0.08 to $0.13 per share.
Meanwhile, Twenty-First Century Fox (FOXA) shares were dropping by more than 1% after the company settled former anchor Gretchen Carlson's sexual harassment lawsuit against Roger Ailes, the longtime chief of the news network who resigned in July. The company has agreed, on behalf of Ailes, to settle Carlson's suit for $20 million, Vanity Fair was the first to report.
Finally, Disney (DIS) shares were slipping by nearly 1% despite making it cheaper to go the happiest place on earth. The entertainment conglomerate is teaming up with Costco (COST) to offer an annual pass to Disney's California Adventure theme park for $330. The deal includes a 10% discount on food and theme park store items, as well as a free Disney collector's pin. The pass is being sold at Costco locations in Southern California until Dec. 1, CNBC's Andrew Sorkin reported on "Squawk Box" Tuesday. (Costco is a holding of Action Alerts PLUS).