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Poor First-Quarter Results Push These Five Stocks Lower Today

US stocks are trending higher today, helped by a modest increase in oil prices and a stronger dollar against the Japanese yen. The Dow is up by triple digits, while the S&P500 was spurred by advances in the energy sector. In this article, however, we’ll take a look at five stocks that have released first quarter results and are, in fact, down this morning. Let’s take a look at the numbers reported by SolarCity Corp (NASDAQ:SCTY), Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH), Gap Inc (NYSE:GPS), Lumber Liquidators Holdings Inc (NYSE:LL) and Inc. (NASDAQ:STMP).

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It’s not a great start to the week for Elon Musk. His solar company, SolarCity Corp (NASDAQ:SCTY), has fallen off a cliff after the release of the latest earnings report. The company said it registered an adjusted loss of $2.56 per share, while analysts expected a loss of $2.32 per share. Revenues came in at $123 million, versus expectations of $110 million. SolarCity’s forward guidance was disappointing as well, with the second quarter’s expected loss widened to a range of $2.70 to $2.80 a share, compared to analyst projections of $2.13 a share. The stock opened 20% lower this morning and continued its slide during the first hours of trading. Notorious short-seller, Jim Chanos is still short on SolarCity, having first announced his bearish bet in August 2015. He said that despite being a leader in the solar business, the company is losing money on every solar panel it installs and is dependent on borrowed money to survive. Hedge fund sentiment towards SolarCity Corp (NASDAQ:SCTY) remained unchanged over the 2015 fourth quarter, as the number of long hedge fund positions was unchanged at 29.

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Shares of Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) are slightly down today, after the company’s first quarter results met the earnings estimate but fell short of the revenue consensus. The cruise operator reported revenues of $1.08 billion and adjusted earnings of $0.38 per share, while market participants were looking for $0.38 per share on $1.09 billion in revenues. Norwegian Cruise Line said it registered a softness in the European market, but it was partly offset by increased demand in Caribbean cruises and higher prices. For the current quarter, the company is predicting earnings in the range of $0.80 to $0.85 per share, below analysts’ estimates of $0.97 per share. Will Snellings‘ Marianas Fund Management was betting heavily in Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) at the end of the fourth quarter, having indicated ownership of 1.14 million shares, up by 79% for the quarter.

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Head over to the next page to find out more about the remaining three companies’ first quarter results.

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