All three major US stock indexes were up in late-morning trading Thursday following a better-than-expected June jobs report.

The June employment report showed nonfarm payrolls rose by 147,000, above the 106,000-job increase expected in a survey compiled by Bloomberg as of 7:30 a.m. ET. Meanwhile, May and April payroll gains saw upward revisions to 144,000 jobs and 158,000 jobs, respectively. The unemployment rate fell to 4.1% from 4.2% in May and was below the 4.3% rate expected. The labor force participation rate fell to 62.3% from 62.4% the previous month as the size of the labor force contracted.

In company news, Olo (OLO) said Thursday it entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash deal valuing Olo at about $2 billion in equity value. Under the deal terms, Olo shareholders will receive $10.25 per share in cash, the company said, adding that the transaction is expected to close by the end of the year. Olo shares were up 13.7% around midday.

Carlyle Group (CG) is in talks to transfer the ownership of Dainese to private lenders HPS Investment Partners and Arcmont Asset Management, Bloomberg reported Thursday, citing people familiar with the matter. Dainese has been dealing with losses since Carlyle acquired it in 2022, forcing the investment firm to initiate debt negotiations with creditors earlier this year, the report said. Carlyle shares were up 2.6%.

BlackRock (BLK) is in talks to sell its stake in the leasing rights to Saudi Aramco's network of natural gas pipelines back to the oil giant, Bloomberg reported Thursday, citing people familiar with the matter. BlackRock shares were up 0.6%.

Alibaba Group (BABA) said Thursday it plans to issue about 12 billion Hong Kong Dollars ($1.53 billion) in zero-coupon exchangeable bonds due 2032 tied to Alibaba Health shares listed on the Hong Kong Stock Exchange. Alibaba shares were down 1.8%.

AstraZeneca (AZN) is in talks with Summit Therapeutics (SMMT) on a partnership deal in which it could pay as much as $15 billion over time to license a drug to treat lung cancer, Bloomberg reported, citing people familiar with the matter. AstraZeneca shares were down 1.9%, while those of Summit were up 8.1%.

United Parcel Service's (UPS) plan to offer voluntary buyouts to delivery drivers violates their labor contract, the International Brotherhood of Teamsters President Sean O'Brien said Thursday in a statement. UPS shares were down 1%.

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