Stocks showed mixed performance at midday as investors digested a series of corporate earnings and market updates. Costco Wholesale (COST) saw shares edge higher after reporting solid sales growth in the latest quarter, driven by strong membership renewals and food sales. Investors responded positively to its consistent performance amid inflation concerns.

Palantir Technologies (PLTR) also advanced, gaining momentum on AI-related optimism. The company recently expanded its government contracts and continues to benefit from increased demand for its artificial intelligence platforms across various sectors.

After a surprisingly impressive earnings report, Gap Inc. (GPS) saw a 20% increase. Due in part to cost-cutting measures and improved inventory management, the clothing retailer exceeded Wall Street projections for both revenue and profit.

The company's lowering of its full-year guidance caused Ulta Beauty (ULTA) to drop more than 10%. Analysts were concerned about declining demand in the skincare and cosmetics sectors, even though the company reported a profit.

Other noteworthy movers were MongoDB, which exploded on optimistic expectations for the growth of cloud services, and Dell Technologies, which fell after releasing disappointing guidance.

Overall, markets remained volatile as investors balanced corporate results with broader economic signals, including inflation data and interest rate expectations.