Stocks Rise as Twitter Beats Estimates; Qualcomm to Purchase NXP Semiconductors

U.S. stocks inched higher on the heels of better-than-expected earnings reports.
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U.S. stocks inched higher on the heels of better-than-expected earnings reports. Twitter (TWTR) - Get Report shares were in focus after the social media platform posted third quarter earnings of $0.13 a share, topping estimates of $0.09. Revenue of $616 million eclipsed forecasts of $606 million. Twitter is also set to trim 9% of its staff. Deutsche Bank (DB) - Get Report posted an unexpected quarterly profit of 278 million euros, while analysts were expecting a loss of 610 million euros. The company also raised its litigation reserves to 5.9 billion euros, compared to 5.5 billion euros in its previous quarter. The bank faces a $14 billion settlement from the U.S. Department of Justice stemming from toxic mortgage securities it sold prior to the financial crisis. Ford (F) - Get Report shares moved lower after third quarter profit slumped 50% year-over-year as costs swelled amid a door latch recall. Adjusted earnings of $0.26 a share topped estimates of $0.20. Revenue of $35.9 billion eclipsed estimates of $33.8 billion. Plus, chipmaker Qualcomm (QCOM) - Get Report has agreed to acquire NXP Semiconductors (NXPI) - Get Report for $110 a share or $47 billion, which includes debt. Shares of both companies rose following the news. NXP is a holding of Jim Cramer's charitable trust, Action Alerts PLUS. TheStreet's Scott Gamm reports from Wall Street.