Why earnings beats haven't been good enough for investors

Some companies, like Tesla (TSLA), have seen their stocks fall, despite reporting earnings that beat analyst estimates. Envestnet Co-Chief Investment Officer Dana D'Auria suspects it's more macro-factors such as the Fed and valuations driving investors. So what are investors looking at? D'Auria says forward guidance is one thing. "We've already priced in an expectation almost that we would be doing well this year," D'Auria said, adding that investors are concerned about how rising rates and a hawkish Fed could impact companies as well.