The Dow Jones Industrial Average was down, while the S&P 500 and the Nasdaq Composite were up in late-morning trading Monday, as investors awaited updates from the latest round of trade talks between US and Chinese officials in London.

In company news, Warner Bros. Discovery (WBD) said Monday it plans to split into two independent publicly traded companies, one focused on streaming and movies and the other on the company's television networks portfolio. The streaming and studios company will include Warner Bros. Television, Warner Bros. Motion Picture Group and the HBO Max streaming service, the company said. The global networks company will include Warner Bros.' entertainment, sports and news television brands, such as CNN, TNT Sports in the US and Discovery, as well as the Discovery+ streaming service. Warner Bros. Discovery shares were up 7.3% around midday.

Baker Hughes (BKR) said Monday it will sell its Precision Sensors & Instrumentation product line to Crane (CR) for a total cash consideration of about $1.15 billion. The deal, which is expected to close at the end of 2025 or early 2026, encompasses all assets of the business, including intellectual property, footprint and resources, Baker Hughes said. Shares of Baker Hughes were up 0.1%, while those of Crane were up 1.4%.

Synchrony Financial (SYF) was chosen by OnePay, a fintech firm backed by Walmart (WMT), to issue both a co-branded card that can be used outside Walmart and a private-label card that can be used for purchases at the retailer, the companies said Monday. Synchrony shares were up 2.3%, while those of Walmart were up 0.2%.

Moelis (MC) said Monday that Co-Founder and Co-President Navid Mahmoodzadegan will assume the role of chief executive, taking over for Ken Moelis, effective Oct. 1. Moelis shares were down 1.6%.

IonQ (IONQ) has agreed to acquire Oxford Ionics in a stock-and-cash deal valued at $1.08 billion, the companies said Monday. The transaction value consists of about $1.07 billion in IonQ shares and $10 million in cash, the companies said. IonQ shares were up 3.5%.

Barclays (BCS) is readying to cut over 200 jobs in its investment bank in the coming days as part of plans to boost the division's profitability, Bloomberg reported Monday, citing people familiar with the matter. Barclays shares were down 0.5%.

UnitedHealth Group (UNH) is weighing several bids for its Latin America operations, Reuters reported Monday, citing two people with direct knowledge of the matter. The health insurer has four nonbinding bids for the business for roughly $1 billion, the sources reportedly told Reuters, adding that a deadline for binding proposals is expected to be set as soon as next month. UnitedHealth shares were down 0.3%.

United Natural Foods (UNFI) said Monday in a regulatory filing that the company became aware on June 5 of "unauthorized activity" on some of its information technology systems. The incident has temporarily impacted the company's "ability to fulfill and distribute customer orders," United Natural Foods said. Shares of the company were down 8.8%.

Price: 10.54, Change: +0.72, Percent Change: +7.28