Tesla, Alibaba suffer from high expectations

Stocks are moving higher this Thursday morning. Both Tesla (TSLA) and Alibaba (BABA) reported their first quarter results, and though both companies did well, neither did well enough to really impress the Street. Despite a narrower than expected loss, TSLA is hovering near break-even, and BABA beat estimates for both earnings and revenue, but is only up 4%. Weekly jobless claims were up 17K, but this was in line with expectations, and investors are more focused on tomorrow’s major employment report. On the downside is Fitbit (FIT), which offered lower than expected guidance for the coming year.

West Texas Intermediate crude is trading at $45.55. At present, the S&P 500 is up 0.16%, the DJIA is up 0.15%, and the NASDAQ is up 0.02%.

Here are your Thursday morning market metrics. Industries doing well today include oil & gas, independent power, and trading companies. Industries showing weakness include multiline retail, specialty retail, and textiles. The VIX is down 2% to 15.74 after closing on Wednesday at 16.05. The most heavily traded options this morning are for Baxter (BAX), with 21,500 May 55 calls changing hands. The total put/call ratio as of 9:00 AM was 0.87 (217,075/189,837). NYSE Adv/Dec 1,861/900. Nasdaq Adv/Dec 1,247/982.

Julian Close

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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