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Happy Thursday! Elon Musk may catch a lot of criticism for failing to deliver on promised timelines. But hey, when you run five different companies, maybe dates and projects are just hard to keep track of. Also, what can brown do for you?

—Aaron Bry

Plus, looking to take your options trading to the next level? Check out today’s partner, CBOE.

MARKET SNAPSHOT

Yesterday: Overall, a red day on The Street, but ‘buy the dippers’ came in and brought us well off of our lows of the day. $ENPH was a notable loser on the day, closing down nearly 15% following a disappointing earnings report.

On Our Radar: Jobless claims came in slightly lower than expected this morning. We will also get manufacturing and services PMI at 9:45 am ET.

TOP STORY

Elon Musk Shuts Down Traditional Tesla $25K EV Rumors, Calls It 'Pointless'

What Happened: Tesla Inc CEO Elon Musk has definitively shut down speculation about the company’s long-rumored $25,000 traditional electric vehicle, marking a strategic pivot towards an all-autonomous future for the electric vehicle maker.

So: During Tesla’s third-quarter earnings call, Musk explicitly rejected the idea of developing a conventional $25,000 car, calling it “pointless” and “silly” in light of the company’s autonomous vehicle strategy. Could the failed project derail Tesla’s rally?

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FIVE ZINGERS

Seatbelt Sign Is On: Southwest and American Airlines shares are trading slightly in the red this morning, despite relatively strong earnings.

Hello, Old Friend: Remember QuantumScape, the EV battery play that soared higher during COVID? Shares are on the rise again, here’s why.

$HOG Wild: Harley Davidson shares are trading slightly lower as we head into the open after the motorcycle maker reported worse-than-expected earnings.

Not Out Of The Woods Yet: Chinese stocks are getting hit again this morning as concerns once again mount regarding the country’s economic growth.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Delivery Giant UPS Breaks Revenue-Miss Streak After 10 Quarters, Stock Soars

Basically: United Parcel Service Inc shares are trading higher after the company reported better-than-expected third-quarter results.

So: UPS reported consolidated revenue growth of 5.6% year-over-year to $22.2 billion, beating the consensus of $22.14 billion. Can UPS keep delivering gains?

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This is a paid ad. Please see 17b disclosure here for more information.

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