Top Midday Stories: Meta Mulls Using Google Chips for Data Centers; Alibaba Posts Lower Fiscal Q2 Non-GAAP Earnings, Higher Revenue

11:34 AM EST, 11/25/2025 (MT Newswires) -- The Dow Jones Industrial Average and the S&P 500 were up in late-morning trading Tuesday, while the Nasdaq Composite was down, as Wall Street hopes for another rate cut were boosted after two Federal Reserve officials advocated for further loosening of policy in recent days.

In company news, Meta Platforms (META) is considering using artificial intelligence chips designed by Alphabet's (GOOG, GOOGL) Google (GOOG), The Information reported late Monday. Meta is mulling using Google's (GOOG) tensor processing units in its data centers in 2027, and it may also rent those chips from Google's (GOOG) cloud unit in 2026, according to the report. Meta shares were up 2.2% around midday, while those of Alphabet's Class C and Class A shares were both up 0.7%. Shares of Nvidia (NVDA) were down 4.3%.

Alibaba (BABA) reported fiscal Q2 non-GAAP earnings Tuesday of 4.36 renminbi ($0.61) per diluted American depositary share, down from 15.06 renminbi a year earlier and below the FactSet consensus analyst estimate of 6.03 renminbi. Fiscal Q2 revenue was 247.80 billion renminbi, up from 236.50 billion renminbi a year ago and above the FactSet consensus of 243.75 billion renminbi. Alibaba (BABA) shares were down 2%.

Best Buy (BBY) reported fiscal Q3 adjusted earnings Tuesday of $1.40 per share, up from $1.26 a year earlier and above the FactSet consensus of $1.31. Fiscal Q3 revenue was $9.67 billion, up from $9.45 billion a year ago and above the FactSet consensus of $9.58 billion. For fiscal 2026, the company said it expects adjusted EPS of $6.25 to $6.35, up from its prior guidance of $6.15 to $6.30. Analysts polled by FactSet expect $6.24. Best Buy (BBY) also raised its fiscal 2026 revenue guidance to a range of $41.65 billion to $41.95 billion from $41.1 billion to $41.9 billion. Analysts expect $41.79 billion. Best Buy (BBY) shares were up 4.9%.

Dick's Sporting Goods (DKS) reported fiscal Q3 non-GAAP earnings Tuesday of $2.07 per diluted share, down from $2.75 a year earlier and below the FactSet consensus of $2.69. Fiscal Q3 net sales were $4.17 billion, up from $3.06 billion a year ago and above the FactSet consensus of $3.19 billion. For fiscal 2025, the company said it expects EPS of $14.25 to $14.55 for the Dick's business, up from its prior guidance of $13.90 to $14.50. Fiscal 2025 net sales for the Dick's business are estimated to be in the range of $13.95 billion to $14 billion. Dick's said it completed its acquisition of Foot Locker, and it has begun to review Foot Locker's unproductive assets that, along with merger and integration costs, are expected to result in future pre-tax charges of $500 million to $750 million. Shares of Dick's were up 1.2%.

Taiwan Semiconductor Manufacturing (TSM) said in a 6-K filing Tuesday it has filed a lawsuit against former Senior Vice President Wei-Jen Lo, claiming damages for breach of contract. TSMC shares were down 1.9%.

Kohl's (KSS) reported fiscal Q3 adjusted earnings Tuesday of $0.10 per diluted share, down from $0.20 a year earlier but above the FactSet consensus of a loss of $0.16. Fiscal Q3 net sales were $3.41 billion, down from $3.51 billion a year ago but above the FactSet consensus of $3.32 billion. For fiscal 2025, the company said it expects adjusted EPS of $1.25 to $1.45, up from its prior guidance of $0.50 to $0.80. Analysts surveyed by FactSet expect $0.77. Shares of Kohl's were up past 34%.

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