U.S. stocks inched higher on the heels of better-than-expected earnings reports. Twitter (TWTR) 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) 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) 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) has agreed to acquire NXP Semiconductors (NXPI) 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.
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