Multiple corporations released quarterly earnings reports showing varied performance across different sectors, with technology and industrial companies displaying mixed results.

ON Semiconductor narrowed its first-quarter loss to $33.4 million while posting higher revenue, driven by increased demand for chips from artificial intelligence data-center builders. The semiconductor company's improved performance reflects the ongoing AI infrastructure buildout across the technology sector.

Shopify reported contrasting results from different sources, with the e-commerce platform showing a narrowed loss and climbing revenue from subscription services and stronger merchant activity. However, the company's forecast suggested a slowing pace of revenue growth ahead, leading to a decline in its stock price.

Industrial automation company Rockwell Automation raised its full-year outlook after reporting higher profit and sales in its fiscal second quarter. The company's improved performance indicates strength in manufacturing and industrial sectors.

Meanwhile, ride-hailing and delivery company Grab, backed by Uber, expressed optimism for another strong year ahead despite economic headwinds. The Southeast Asian superapp cited strong consumer demand for its ride-hailing and delivery services as drivers for continued earnings growth.

The mixed earnings results reflect the varied economic conditions facing different sectors, with AI-related businesses showing particular strength while some consumer-facing platforms indicate moderating growth expectations.