The Market In 5 Minutes: Twitter, Tesla Earnings And Jobless Claims Fall

Macro Focus

Futures for the Dow Jones Industrial Average climbed 26 points to 18,154.00, while the Standard & Poor’s 500 index futures gained 5 points to 2,139.00. Futures for the Nasdaq 100 index rose 11.50 points to 4,865.25.

Oil prices traded higher as Brent crude futures gained 0.80 percent to trade at $50.38 per barrel, while US WTI crude futures also rose 0.47 percent to trade at $49.41 a barrel.

USA Initial Jobless Claims for Oct 21 258.0K vs 255.0K consensus estimate. The prior reading was 260.0K.

USA Core Durable Goods Orders (MoM) for Sep 0.20% vs 0.20% consensus estimate. The prior reading was -0.20%.

• The pending home sales index for September is schedule for release at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
• The Kansas City Fed manufacturing index for October will be released at 11:00 a.m. ET.
• The Treasury will auction 7-year notes at 1:00 p.m. ET.
• Data on money supply for the latest week will be released at 4:30 p.m. ET.

BZ News Desk Focus

• Ford F Reports Q3 Adj. EPS $0.26 vs $0.20 Est., Sales $35.9B vs $33.15B Est.
• Tesla TSLA Reports Q3 EPS $0.14 vs $0.09 Est., Adj. EPS $0.71, Sales $2.3B vs $2.35B Est.; Q3 Deliveries 24,821, Up 114% YoY
• Twitter TWTR Q3 Adj. EPS $0.13 vs $0.09 Est., Sales $616M vs $605.8M Est.; MAUs For Q3 317M, Up From 313M In Q2
• Bristol-Myers Squibb BMY Reports Q3 EPS $0.77 vs. Est. $0.65, Rev. $4.922B vs. Est. $4.79B
• Raytheon RTN Q3 EPS $1.79 vs $1.66 Est, Revenue $6.03B vs $6.04B Est
• Buffalo Wild Wings BWLD Reports Q3 EPS $1.23 vs. Est. $1.23, Rev. $494.2M vs. Est. $501M

Sell-Side Themes

LINE Corporation LN received a pair of downgrades from Macquarie and Jefferies, both setting a Hold rating.

Sell-Side's Most Noteworthy Calls

• JPMorgan downgraded Royal Caribbean RCL to Neutral.
• CL King downgraded Ocwen Financial OCN to Neutral.
• Citi upgraded VMware VMW to Buy.
• Bank of America upgraded Western Digital WDC to Neutral.
• Morgan Stanley started Sarepta SRPT at Equal-Weight.
• Buckingham started Fossil FOSL at Underperform.

Deal Talk

QUALCOMM QCOM disclosed its agreement to buy NXP Semiconductors NXPI for $110 a share in cash translating into a total enterprise value of about $47 billion. The transaction is predicted to close before the current year ends.

Dr Pepper Snapple DPS is said to be in talks to acquire Bai Brands in a deal valued at more than $1.5 billion, according to sources as reported by Reuters on Wednesday. A report on October 3 mentioned that Bai was exploring a potential sale.

In The News

A planned trade deal between the European Union and Canada overcame a key hurdle after Belgium said it would approve the accord, marking the end of a contentious process that threatened to derail the EU’s trade agenda. The so-called Comprehensive Economic and Trade Agreement, or CETA, has been on thin ice in recent weeks after opposition by Wallonia, Belgium’s French-speaking region, has kept the country’s leadership from supporting the deal.

The Democratic National Committee on Wednesday asked a U.S. judge to hold the Republican National Committee in contempt of court over allegations that Donald Trump encouraged his supporters to intimidate minority voters. The DNC accused Republicans in a court filing of violating a longstanding consent decree, which restricts Republicans' ability to question voters at the polls and prevent those people from casting a ballot.

Blogosphere

"It turns out that election years aren’t more volatile than normal, at least looking at the number of one percent moves."

Trending

TWTR BMY NXPI CELG TSAL CLF AKS F CYH NOK AMZN BABA WDC

Kyle Schwarber had two RBI singles, Anthony Rizzo drove in a run and scored two more, and Ben Zobrist chipped in with an RBI and a run, and the Cubs evened the best-of-seven series, winning 5-1 in Game 2 in Cleveland. #WorldSeries

Guess This Chart

• This stock was upgraded to Overweight by Piper Jaffray Thursday morning, after they announced a Q4 earnings beat and Q1 guidance beat yesterday afternoon.
• Last week, TheStreet published an article saying "May Catch Activist Investor Attention Amid Sector Consolidation."
• Sympathy plays include A10 Networks, Cisco Systems and Radware.

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