NEW YORK (TheStreet) -- U.S. stock futures were moving higher Thursday morning even as data came in mixed on the labor market and GDP growth.
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Dow Jones Industrial Average futures were up 22 points, or 0.13%, to 16,650, while Nasdaq futures were up 0.09% to 3,719.5. S&P 500 futures were up 2.25 points, or 0.12%, to 1,911.25.
- International markets were mixed with the FTSE 100 up 0.34% and the DAX down 0.02%. The Nikkei 225 edged 0.07% higher, and the Hong Kong Hang Seng dropped 0.3%.
- Apple (AAPL) - Get Report has made it official, agreeing to acquire Beats Electronics for $3 billion, $2.6 billion in cash and the remainder in equity which will vest over time.
- Membership-only retailer Costco (COST) - Get Report reported a 3.1% increase in third-quarter profit to $473 million, or $1.07 a share, but fell shy of analysts' estimates by 2 cents, according to Thomson Reuters. Though Costco fared moderately well in a quarter which brought some of the best retailers to their knees, shares were sliding 0.74% to $113.40 before the bell.
- Shares of Abercrombie & Fitch (ANF) - Get Report were adding 8.2% after the teen retailer managed to stem losses in its first quarter. Net losses of $13 million, or 17 cents a share, were narrower than analysts' forecasts for losses of $13.4 million, or 19 cents a share. Total sales slipped 2% to $822 million, higher than an anticipated $798 million.
- Palo Alto Networks (PANW) - Get Report was soaring 14.4% after reporting third-quarter profits of 11 cents a share, a penny over estimates. Separately, the company said it had settled patent litigation with Juniper Networks (JNPR) - Get Report, agreeing to pay a one-time penalty of $175 million.
- Avago Technologies (AVGO) - Get Report, Lions Gate (LGF) and Veeva Systems (VEEV) - Get Report will be on watch after the bell following their respective earnings reports.
- On the economic front, initial jobless claims fell to a seasonally-adjusted 300,000 for the week ended May 24, well below analysts' estimates for 318,000, indicating a labor market on the mend.
- The Commerce Department released data showing GDP shrinking at a 1% annual rate, the first time the economy has shrunk in its first quarter since 2011.
- Pending home sales data is due out at 10 a.m. EDT.
--Written by Keris Alison Lahiff in New York.