Stock futures were higher Thursday after a series of earnings reports boosted markets. 

S&P 500 futures added 0.44%, Dow Jones Industrial Average futures climbed 0.25%, and Nasdaq futures moved 0.82% higher.

Durable goods orders in the U.S. contracted at a much faster pace than expected in December as the U.S. economy saw a slight slowdown to close out 2015. Durable goods fell 5.1% over the month compared to an expected 0.6% decline. Durable goods orders in November were revised to show a 0.5% decline. 

The labor market continued to show resilience after initial claims for unemployment benefits fell 16,000 to 278,000 in the week ended January 23. Economists had expected the number of new claims to fall to 285,000. The four-week jobless claims average, a less volatile measure, fell 2,250 to 283,000. 

It was a busy morning for earnings reports with heavy-hitters Alibaba (BABA - Get Report) , Ford (F - Get Report) and Facebook (FB - Get Report) all active after reporting on their recent quarters.

Facebook jumped 12% in premarket trading after reaching $1 billion in quarterly profit for the first time. The social network beat analysts' estimates on its top- and bottom-lines with results driven by increased advertising demand.

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Alibaba added nearly 4% after beating analysts' earnings and revenue estimates. The Chinese e-commerce site more than doubled earnings to $1.92 billion, while adjusted earnings of 99 cents a share exceeded forecasts by a dime. Revenue jumped 32% to $5.33 billion.

Ford climbed 1% after swinging back to profit in its fourth quarter thanks to strong demand in North America. Revenue climbed 12% to $40.3 billion, lifted by growth in U.S. sales and demand for its pickup trucks.

Caterpillar (CAT - Get Report) moved 3% higher after issuing a solid profit forecast for the full year despite weakened demand for mining and oil equipment. The machinery maker said it expects earnings of $4 a share in 2016, higher than estimates of $3.48, as reduced pension and benefits costs boost the bottom-line.  

Under Armour (UA - Get Report) surged 12% after exceeding fourth-quarter expectations and issuing strong growth prospects for the full year. The athletic apparel retailer said it expects revenue of $4.95 billion for fiscal 2016, above estimates of $4.91 billion. 

eBay (EBAY - Get Report) tumbled 8.6% after it reduced first-quarter guidance. The online auction site said it expects earnings between 43 cents and 45 cents a share in its current quarter, below forecasts of 48 cents a share. 

PayPal (PYPL - Get Report) climbed 5% following better-than-expected earnings. The payments-processing company earned 36 cents a share, 2 cents above estimates, while revenue of $2.56 billion exceeded forecasts of $2.51 billion.

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SanDisk (SNDK) added 1% after beating lowered estimates in its fourth quarter. The chipmaker earned an adjusted $1.26 a share, far higher than estimates of 89 cents a share. Revenue fell 11% to $1.54 billion, surpassing forecasts. 

Qualcomm (QCOM - Get Report) slid more than 1% after quarterly profit tumbled on weaker demand for smartphone chips. The company reported a 24% dip in earnings, though earnings per share of 97 cents did manage to exceed estimates. 

Stocks slumped to session lows in the final hours of trading on Wednesday following the release of the Federal Reserve's statement from its latest policy meeting. The central bank kept a potential March rate hike in play. However, it did downgrade its outlook for U.S. household spending and business investment and noted that economic growth slowed to end last year.