Key Takeaways

• Major U.S. indexes gained at midday Thursday, extending their post-election rally ahead of the Federal Reserve's decision on interest rates.

• Shares of Under Armour soared after the athletic apparel maker beat profit and sales estimates and raised its outlook.

• Shares of Wolfspeed sank after the chipmaker's sales and guidance missed estimates, and it announced it would cut its workforce by 20%

Major U.S. indexes gained at midday Thursday, extending their post-election rally ahead of the Federal Reserve's decision on interest rates. The S&P 500, Nasdaq, and Dow all rose.

Shares of Under Armour (UA) soared after the athletic apparel maker beat profit and sales estimates and raised its outlook, saying its turnaround plan is working.

Lyft (LYFT) shares also surged, a day after the ride-hailing company reported better-than-expected results and raised its forecast.

Warner Bros. Discovery (WBD) shares jumped after the media giant swung to a profit and reported it added 7.2 million subscribers for its Max streaming service.

Match Group (MTCH) was the worst-performing stock in the S&P 500 as the dating app company gave a weaker-than-expected outlook and warned revenue from its Tinder app was lower than anticipated.

Shares of Wolfspeed (WOLF) sank after the chipmaker’s sales and guidance missed estimates, and it announced it would cut its workforce by 20% in a restructuring of its business.

Corteva (CTVA) shares dropped as the agrichemicals firm reported a wider-than-expected loss and cut its outlook.

Oil futures gained, while the price of gold rose, and the yield on the 10-year Treasury note fell. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded higher.