**Earnings Roundup: Disappointments from Eli Lilly, Kraft Heinz, and Caterpillar**

Wednesday morning saw another wave of earnings reports from notable companies, including pharmaceutical heavyweights Eli Lilly and AbbVie, as well as UBS and Kraft Heinz. Notably, some prominent names did not meet Wall Street's expectations, causing varied reactions in the stock market.

Kraft Heinz took a significant hit, with its stock falling 3.7%. The decline followed the company reporting quarterly earnings that fell short of forecasts, reflecting a broader trend of consumers opting for more affordable packaged food products. Meanwhile, UBS experienced a 3.8% drop despite surpassing estimates; its CEO pointed to an uncertain macroeconomic landscape heading into the year's final quarter.

Eli Lilly notably underperformed, reporting adjusted diluted earnings per share (EPS) of $1.18, well below the expected $1.51. Additionally, its revenue came in at $11.4 billion, missing the anticipated $12.2 billion mark. AbbVie, on the other hand, exceeded expectations with an adjusted diluted EPS of $3.00 against a forecast of $2.91, and revenue of $14.5 billion compared to the expected $14.3 billion.

Caterpillar also reported figures that did not meet Wall Street's predictions, posting an adjusted diluted EPS of $5.17, lower than the anticipated $5.34. Their revenue was $16.1 billion, falling short of the expected $16.4 billion. Conversely, UBS outperformed with a diluted EPS of $0.43, surpassing the predicted $0.24, and revenue reaching $11.7 billion against an estimate of $11.5 billion.

Kraft Heinz recorded an adjusted diluted EPS of $0.75, slightly above the forecast of $0.74, but their revenue of $6.38 billion did not match the expected $6.42 billion. Hess emerged as a strong performer, with an adjusted diluted EPS of $2.14 surpassing the anticipated $1.81, and revenue at $3.2 billion, exceeding the predicted $2.9 billion.

On Wednesday, U.S. stock markets presented a mixed performance. The Dow Jones Industrial Average dipped by more than 60 points, translating to over a 0.1% decrease. Simultaneously, the S&P 500 also dropped by about 0.1%. In contrast, the Nasdaq Composite saw marginal gains, buoyed by strong earnings from Alphabet, which bolstered overall optimism for Big Tech results. Meanwhile, important GDP and labor market data continued to play a crucial role in shaping the Federal Reserve's impending interest rate decision.