Initial claims for unemployment insurance, a proxy for the health of the labor market, declined by 4,000 last week to a seasonally-adjusted 323,000. The four-week moving average fell by 6,250 to 336,750, its lowest level since November of 2007 and the third consecutive week the moving average has declined. Economists were expecting a slight increase in the number of claims. Continuing claims fell by 27,000 to a post-crisis low of 3.005 million, also suggesting improvement in the labor market.
Futures at 8:40 a.m.: DJIA: -0.15%, S&P 500: -0.20%, NASDAQ: -0.32%.
Here’s what’s buzzing on Thursday morning:
Facebook (NASDAQ:FB) is reportedly in advanced talks with Israeli mobile-satellite navigation startup Waze about a possible acquisition valued between $800 million and $1 billion. There has been on official word from the companies on the situation, but Israeli business daily Calcalist reported the possible buyout on Wednesday. Waze and Facebook partnered on a project in October of 2012, giving the deal some precedence.
Tesla Motors (NASDAQ:TSLA) stock surged as much as 22 percent in post-market trading on Wednesday after the electric-vehicle maker reported first-quarter results that beat estimates. Revenue climbed 1762.78 percent on the year to $562 million (not a typo, the company just hardly made any money in the year-ago period), and beat the average estimate of $492 million. Adjusted earnings increased from -$0.76 per share in the year-ago period to $0.12 per share, beating the average estimate of $0.04 per share… (Read more.)
Groupon (NASDAQ:GRPN) climbed as much as 12 percent in post-market trading. The beleaguered daily-deals site posted first-quarter earnings that beat expectations. Revenue climbed 7.53 percent on the year to $601.4 million, which compares to the average estimate of $588.92 million. Adjusted earnings increased 50 percent on the year to $0.03 per share, meeting the average estimate… (Read more.)
Green Mountain Coffee Roasters (NASDAQ:GMCR) climbed as much as 15 percent in pre-market trading. Revenue rose 13.5 percent to $1 billion, barely missing the average estimate of $1.02 billion. Adjusted earnings climbed 45 percent to $0.93 per share, beating the average estimate of $0.73 per share.
Don’t Miss: Is Your Retirement Becoming More Conservative?