Here are five things you must know for Thursday, Oct. 26:
Asian shares finished Thursday's session mixed, with Japan's Nikkei gaining 0.15% and the Hang Seng in Hong Kong slipping 0.36%.
Comcast Corp. (CMCSA - Get Report) shares rose 1.8% after the media, entertainment and telecommunications company posted an adjusted profit of 55 cents a share in the third quarter vs. expectations of 49 cents.
Earnings reports are also expected Thursday from Alphabet Inc. (GOOGL - Get Report) , Amazon.com Inc. (AMZN - Get Report) , Microsoft Corp. (MSFT - Get Report) , Intel Corp. (INTC - Get Report) , Xerox Corp. (XRX - Get Report) , Time Warner Inc. (TWX) , Mattel Inc. (MAT - Get Report) , Gilead Sciences Inc. (GILD - Get Report) , Celgene Corp. (CELG - Get Report) , American Airlines Group Inc. (AAL - Get Report) , Dunkin' Brands Group Inc. (DNKN - Get Report) and ConocoPhillips (COP - Get Report) .
Here's what Jim Cramer is watching for when Alphabet reports after the bell:
3. -- Deutsche Bank AG (DB - Get Report) fell 1.4% in premarket trading in the U.S. on Thursday after Germany's biggest bank reported a wider-than-expected slump in third-quarter trading and investment banking revenue.
The bank said trading declined 30% in the September-ended quarter, worse than the 24% fall expected by analysts.
Revenue for the third quarter fell 10% year on year to €6.8 billion ($8 billion), in line with expectations.The company also reported that revenue in its corporate and investment bank fell 23% to €3.5 billion on "muted client activity and low volatility vs. the prior year quarter which saw high levels of client activity post-Brexit."
Deutsche Bank fared much worse than the five biggest U.S. investment banks reporting a 16% fall in equities revenue and a 36% fall in fixed income revenue from the same period period last year. The U.S. banks averaged a 2% rise in equities revenue and a 22% decline in fixed income.
Net income in the quarter more than doubled to €649 million, beating analysts' expectations of €281 million. Pretax profit was up 51% to €933 million.
4. -- Saudi Arabian Crown Prince Mohammed bin Salman, in an interview with Bloomberg News, backed the extension of OPEC production cuts beyond March 2018.
The prince, who has become the kingdom's dominant political force, said that "of course" he wanted to extend the cuts into 2018. "We need to continue stabilizing the market," he told Bloomberg.
Saudi officials until now have signaled they favored prolonging the cuts, but stopped short of making a formal commitment, saying all options were still open, Bloomberg noted.
Oil prices in the U.S. slipped 0.02% to $52.17 a barrel early Thursday .
5. -- Shares of Buffalo Wild Wings Inc. (BWLD) jumped 19% in premarket trading on Thursday after the restaurant chain posted third-quarter profit that topped expectations, benefiting from a shift to boneless chicken wings.
The company reported earnings of $1.36 a share on revenue of $496.7 million. Analysts surveyed by FactSet expected the company to report earnings of 79 cents a on sales of $501.1 million.
"The recent Tuesday promotion shift from traditional to boneless wings at company-owned restaurants will continue to improve cost of sales while traditional wing prices remain elevated," CEO Sally Smith said in a statement. "Combined with our cost savings initiatives and service excellence focus, we are optimistic these actions will deliver an improving bottom line."
This story has been updated to include earnings reports from Ford, Twitter and Comcast.
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