US stock-index futures rose on Thursday after Apple reported quarterly results that blew past estimates.
At 8:09 am ET, the S&P 500 futures rose 7.40 points to 1,335.70. The Dow Jones Industrial average futures increased 56 points to 12,452. The Nasdaq Composite futures advanced 25.25 points to 2,380.25.
A release by Department of Labor on Thursday showed number of Americans filing first- time claims for unemployment benefits dropped 13,000 to 403,000 in the week ending April 16. Economists expected jobless claims to drop to 380,000. The four-week average of seasonally adjusted initial jobless claims, a less volatile gauge, increased 2,250 to 399,000. Continuing claims for the week ending April 9 fell 7,000 to 3.70 million.
Apple Inc. (NASDAQ: AAPL) reported late Wednesday that its fiscal second quarter profit jumped to $5.99 billion, or $6.40 per share, from $3.07 billion, or $3.33 a share, in the year-earlier quarter. Revenue surged to $24.67 billion from $13.50 billion. Analysts, on average, expected the company to report earnings of $5.35 per share on revenue of $23.27 billion.
General Electric Co. (NYSE: GE) reported Thursday that its first-quarter net profit climbed to $3.43 billion, or 31 cents a share, from $1.95 billion, or 17 cents a share, in the year-ago quarter. On an adjusted basis, the company earned 33 cents a share. Revenue increased 6% to $38.4 billion from $36.20 billion. Analysts, on average, had expected the company to report earnings of 28 cents on revenue of $34.64 billion.
McDonald's Corp (NYSE: MCD) reported Thursday that its first-quarter profit rose to $1.21 billion, or $1.15 per share, from $1.09 billion, or $1.00 per share, in the year-ago period. Revenue increased 9% to $6.1 billion from $5.6 billion. Analysts, on average, expected the company to report earnings of $1.14 per share on revenue of $6 billion.
Morgan Stanley (NYSE: MS) reported Thursday that its first-quarter profit dropped to$968 million, or 50 cents a share, from a profit of $1.78 billion, or 99 cents a share, in the year-ago period. Revenue declined 16% to $7.64 billion. Analysts, on average, expected the company to report earnings of 42 cents per share on revenue of $7.88 billion.
Verizon Communications Inc. (NYSE: VZ) reported Thursday that its first-quarter profit rose to $1.44 billion, or 51 cents a share, from a profit of $443 million, or 16 cents a share, in the year-ago period. On an adjusted basis, the company earned 48 cents a share in the latest quarter. Revenue climbed to $27 billion from $26.91 billion. Analysts, on average, expected the company to report earnings of 50 cents per share on revenue of $26.89 billion.
European stocks advanced in afternoon trade. At 13:18 pm London Time, the UK FTSE rose 12.73 points, or 0.21%, to 6,034.99. The German DAX and French CAC increased 0.85% and 0.64% respectively.
Asian stocks finished higher. The Nikkei 225 rose 78.95 points, or 0.82%, to 9,685.77. The Hang Seng index of Hong Kong climbed 242.21 points, or 1.01%, to 24,138.31.
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