Stock Futures Higher as Twitter and Tesla Top Earnings Forecasts

The street-Stock futures rise Thursday morning after Tesla (TSLA) and Twitter (TWTR) each surpassed analysts’ estimates in their recent quarters. S&P 500 futures were up 0.4%, Dow Jones Industrial Average futures gained 0.14%, and Nasdaq futures added 0.19%. Stock Futures Higher Tesla rose more than 4% in premarket trading after reporting a surprise profit in its third quarter. The electronic automaker earned an adjusted 71 cents a share, far better than an expected net loss of 54 cents. Tesla hadn’t reported a quarterly net profit in more than three years. Revenue surged 145% to $2.3 billion and topped estimates by $100 million. Tesla’s adjusted gross margins also improved to 25% from 23.6% in the second quarter and full-year gross margins are expected to increase by 2 to 3 percentage points.   Twitter jumped 4% after besting quarterly estimates and detailing plans to cut 9% of its workforce. The Jack Dorsey-led company reported adjusted earnings of 13 cents a share on revenue of $616 million. Analysts had expected adjusted earnings of 9 cents a share on $606 million in revenue. Twitter has been in the crosshairs since a round of acquisition offers from and Walt Disney fell apart earlier this month. Initial claims for unemployment benefits in the U.S. fell by 3,000 to 258,000 in the past week, according to the Department of Labor. Analysts had expected a decline of 255,000. The less-volatile, four-week average rose 1,000 to 253,000. U.S. durable goods orders dropped 0.1% in September. Analysts had expected orders to rise 0.2%. Of particular concern, new orders for capital goods made in the U.S. dropped unexpectedly in September as demand for computers and other electronics weakened. Capital goods orders fell 1.2% last month, according to the Commerce Department, after three months of gains. Capital goods orders are used as an indicator of future business spending.

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