Updated from 5:54 a.m. EDT
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Here are five things you must know for Tuesday, Oct. 25:
1. -- U.S. stock futures were rising Tuesday, European stocks gained and Japan's Nikkei hit a six-month high after Wall Street rallied Monday and investors prepared for a busy day for corporate earnings reports.
The economic calendar in the U.S. on Tuesday includes the FHFA House Price Index for August at 9 a.m. EDT, the Case-Shiller 20-City Index for August at 9 a.m., and Consumer Confidence for October at 10 a.m.
Earnings are expected Tuesday from Apple (AAPL - Get Report) , Pandora (P) , Sprint (S - Get Report) , 3M (MMM - Get Report) , Caterpillar (CAT - Get Report) , Lockheed Martin (LMT - Get Report) , Panera Bread (PNRA) , General Motors (GM - Get Report) , JetBlue (JBLU - Get Report) , Eli Lilly (LLY - Get Report) .
The company maintained its fiscal 2017 guidance for 2% sales growth.
2. -- Netflix NFLX CEO Reed Hastings offered his qualified support of AT&T's deal to buy Time Warner as long as the deal doesn't give an "unfair advantage" to Time Warner's networks.
"The key thing is whether there is going to be net neutrality, which hasn't been AT&T's favorite topic," he said. "If they got there ... then good things might happen."
The San Francisco-based company's adjusted earnings of 78 cents a share for its fiscal fourth quarter topped estimates by 5 cents.
Net income, including one-time charges related to the company's purchase of Visa Europe and severance packages, increased 28% to $1.9 billion. Payment volume climbed 47% to $1.9 trillion.
"We have begun to see the benefits from our acquisition of Visa Europe, and strong cost discipline helped our results," said Visa CEO Charles Scharf, who announced his decision to step down from the top job earlier this month. "We are unwavering in our commitment to invest in client partnership opportunities and the further buildout of our digital payments capabilities."
Visa shares were down 1.2% in premarket trading on Tuesday.
The company may cut about 8% of its workforce, or about 300 people, the same percentage it did last year when co-founder Jack Dorsey took over as CEO, the people said. Planning for the cuts is still fluid and the number could change, they added.
An announcement about the job reductions may come before Twitter releases third-quarter earnings on Thursday, one of the people told Bloomberg. A Twitter representative declined to comment for Bloomberg.
Twitter recently hired bankers to explore a sale, but the companies that had expressed interest in bidding -- Salesforce.com, Walt Disney and Alphabet -- later backed out from the process.
The stock fell 0.7% in premarket trading.
4 -- Major European banks rose Tuesday, shrugging off a report that the U.S. Department of Justice may delay the settlement of fines for mis-selling mortgage-backed securities until after the presidential election next month.
The deaprtment's hopes of finalizing an omnibus settlement against Barclays (BCS) , Credit Suisse (CS - Get Report) Deutsche Bank (DB - Get Report) before the presidential election have been lowered, Sky News reported, citing a senior banker. It is now becoming more likely that an announcement from the DOJ could slip beyond November.