The bar is higher this earnings season for companies that have historically outperformed, "Fast Money" traders said Wednesday. Now they have to blow their results out of the water if they want to avoid punishment in the market.
It's a busy week for earnings, with more than 90 S&P 500 components slated to report their quarterly results by this weekend. On Wednesday, companies like Qualcomm and Las Vegas Sands reported earnings, moving shares after hours.
Like Intel on Tuesday night, Qualcomm had some bad news with earnings, said Brian Kelly. If it trades higher Thursday morning, it's time to buy, he said.