Here are some of the stocks the Yahoo Finance team will be watching for you today:
Tesla (TSLA) shares accelerated in early trading. The electric carmaker delivered only the second profitable quarter in its history. That surprised analysts who were expecting a loss. The company also beat Wall Street’s revenue forecast. The company’s last profitable quarter was in 2013 and the pressure was on this time because CEO Elon Musk needs cash to build the company’s mass market Model 3. He also needs shareholders to approval to approve Tesla’s merger with SolarCity (SCTY).
Twitter (TWTR) is flapping its wings. The struggling social media company delivered better-than-expected earnings and revenue for the third quarter. Twitter reported 317 million monthly active users. That’s a rise of 3% from a year ago. The company also said it would eliminate about 350 jobs, or 9% of its workforce. Twitter shares have had a bumpy ride since speculation first started swirling about a potential takeover.
The biggest US IPO of the year is set to make its Wall Street debut. Chinese package delivery firm ZTO Express will begin trading on the NYSE this morning under the ticker ZTO. The company priced 72 million shares last night at $19.50 a piece, raising $1.4 billion for its initial public offering. ZTO is the biggest Chinese company to go public in the US since Alibaba (BABA) two years ago. Yahoo the parent company of Yahoo Finance owns about a 15% stake in Alibaba.
Ford (F) reported a beat on both its top and bottom lines for the third quarter. Profit fell 56% from a year ago due to costs related to a safety recall and lower sales in the US. However, results did improve in China and Europe.
NXP Semiconductors (NXPI) is being bought by Qualcomm (QCOM). The deal is valued at about $47 billion, which includes debt. That translates to $110 per share. This as Qualcomm looks for ways to expand the reach of its chips from smartphones to cars. The combined company is expected to have annual revenues of more than $30 billion.
Apple (AAPL) remains in focus this morning. The fell more than 2% yesterday after quarterly results failed to impress investors. Today the focus shifts to the tech giant’s unveiling of a new upgraded Mac computer in Cupertino at 1 p.m. Eastern Time. Apple is in need of a new hit as it looks for ways to offset falling sales of iPhones. Separately, the company said it’s delaying the shipment of its wireless AirPod headphones, which were supposed to hit the market at the end of this month. Apple said the product needs “a little more time” before it’s ready for market, but did not say when the headphones would be available.