The Labor Department reports new claims for unemployment benefits increased by 28,000 to 385,000 last week from 357,000 the week prior. Claims were expected to make a smaller increase to 350,000.
The microblogging service surged past Wall Street’s 2Q estimates as it logged a two-cent EPS gain while analysts were looking for a one-cent loss. Revenues of $312 million also topped views. Shares jumped more than 30% in after-hours action.