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Day Ahead: Top 3 Things to Watch for Feb. 6

Investing.com - Here are three things to could rock the markets tomorrow.

1. Twitter, Uber Step Up

Social media stocks haven’t had a great earnings season, with Facebook (NASDAQ:FB) and Snap (NYSE:SNAP) notably getting hit by sellers after results.

Twitter (NYSE:TWTR) will hope to buck the trend Thursday when it issues numbers before the bell.

The company is expected to earn 29 cents per share on revenue of about $993 million, according to analysts’ forecasts compiled by Investing.com.

Investors will be looking for any progress fixing the bug that affected targeting ads that plagued its last earnings report.

Last Month, UBS downgraded Twitter to neutral from buy, saying it still expects the company to be investing in safety and security initiatives, both long-term goals that could affect short-term results.

After the close of trading, Uber (NYSE:UBER) will report.

Analysts are looking for Uber to report a loss of 67 cents per share and revenue of about $4 billion.

This week, Wedbush put the stock on its “best ideas” list with a price target of $50, saying this could the be quarter for the company to “regain Street credibility”.

Wedbush noted the decision of Uber to shed its India food-delivery business was a good step to reshape Uber (NYSE:UBER) Eats so it’s no longer an overhang on the stock.

2. Jobless Claims Seen Dipping

The economic calendar is fairly light tomorrow, but you can always count on Thursday jobless claims.

Weekly initial jobless claims arrive at 8:30 AM ET (13:30 GMT).

Claims for first-time unemployment benefits are expected to tick down slightly to 215,000, according to economists’ forecasts compiled by Investing.com.

At the same time the Labor Department will also report on productivity and labor costs.

The preliminary measure of fourth-quarter nonfarm productivity is forecast to have risen 1.6%. Unit labor costs are expected to have risen 1.4%.

3. Casper Sleep IPO Looks Dormant

While the stock market has been roaring this week, the new issues market signaled that there may still be some bumps in the road.

Online bedding retail company Casper Sleep raised much less than anticipated after the bell today with its initial public offering.

Casper Sleep priced its IPO at $12 per share, raising $100.8 million.

That was the low end of the $12 to $13 expected range, a range that had already been lowered today from $17 to $19 per share. That indicated much weaker institutional demand than underwriters were banking on.

Casper Sleep starts trading on the on the New York Stock Exchange tomorrow under the symbol CSPR.

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