Updated from 5:56 a.m. EDT
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Here are five things you must know for Thursday, Oct. 27:
1. -- U.S. stock futures turned higher Thursday ahead of the busiest day for earnings this season and data on durable goods.
The economic calendar in the U.S. on Thursday includes weekly Jobless Claims at 8:30 a.m. EDT, Durable Goods Orders for September at 8:30 a.m., and Pending Home Sales for September at 10 a.m.
Twitter posted third-quarter adjusted earnings of 13 cents a share, topping forecasts by 4 cents. The company also announced it would cut 9% of its workforce. The stock rose 5% in premarket trading.
2. -- Tesla (TSLA) - Get Report reported third-quarter revenue of $2.3 billion, up 145% from a year earlier, and adjusted earnings of 71 cents a share. The top-line number slightly missed estimates while profit beat consensus by 9 cents a share, thanks to a boost provided by $139 million in zero emission vehicle credit revenue.
It was Tesla's first quarterly net profit in more than three years.
In premarket trading Thursday, Tesla rose 4.9%.
Earnings also benefited from Tesla's adjusted automotive gross margin, which improved to 25% from 23.6% in the second quarter and 23.7% a year earlier. ago. Tesla said it still expects its automotive gross margin to rise by 2 to 3 percentage points for the year.
The electric-vehicle maker maintained its guidance for 50,000 second-half vehicle deliveries. With 24,821 deliveries in the third quarter, Tesla was nearly halfway there going into October. Combined net orders for the Model S sedan and Model X SUV grew 68% in the third quarter from last year.
Tesla said it expects capital expenditures to rise next year due to the ramp-up of the Model 3 sedan. Though the company has $3.1 billion in cash (to go with $2.7 billion in long-term debt and capital leases) and said it could fund the Model 3 ramp without a capital raise, it isn't ruling out the possibility of raising additional funds to help pay it.
CEO Elon Musk Musk told analysts Wednesday that the company's current plan "does not require any capital raise for the Model 3 at all."
3. -- Deutsche Bank (DB) - Get Report CEO John Cryan said Thursday a deal with U.S. regulators to settle litigation was his No. 1 task as he presented third-quarter numbers that beat analysts' forecasts.
Investors have waiting for news on whether Germany's largest lender can negotiate lower a Department of Justice fine for mis-selling mortgage-backed securities before the financial crisis ever since the bank said on Sept. 15 the DOJ's starting position was $14 billion. Deutsche Bank said it had increased its litigation provisions to €5.9 billion ($6.4 billion) in the third quarter from €5.5 billion in the second quarter, while Cryan told analysts on a conference call that settling the matter and other overhanging legal issues was something he must do "first and foremost," without providing information on the likely timing.
"This remains our and my top priority," he said.
Deutsche Bank reported third-quarter pretax profit of €619 million ($675 million) and a net profit of €278 million; many analysts had been expecting the bank to post a loss.
4. -- Apple (AAPL) - Get Report plans to host an event -- dubbed "hello again" -- Thursday at its headquarters in Cupertino, Calif. The tech giant is expected to reveal updates to the MacBook Pro, which hasn't had an update Apple added the Retina Display in 2012, according to CNET.
The event is scheduled to begin at 1 p.m. EDT.
Apple shares fell 2.3% on Wednesday after the company nudged past earnings and sales estimates in its fiscal fourth quarter.
5. -- Alphabet is graduating its self-driving-car project from its research lab X into a stand-alone business, X chief Astro Teller said in an interview at the WSJDLive 2016 tech conference.
The car group's finances were separated from X on Jan. 1 this year, and now the team is completing a series of corporate and legal moves to become its own business, Teller said.
As its own stand-alone business under Alphabet, the car group would likely be expected to soon begin generating revenue, though not necessarily a profit at first. In the interview, Teller declined to disclose the car project's planned business model.
Teller said Alphabet likely will roll out its self-driving cars incrementally over the next several years as they improve with more time on the road.