Stocks reversed and are slipping in midday trading as a better-than-expected jobless claims report furthered investors' concerns that the Federal Reserve will taper its bond-buying program more rapidly. The Labor Department on Thursday said applications for unemployment benefits fell by 15,000 last week to 330,000, below estimates. In other headlines, shares of Alcoa are slipping after the aluminum producer said it will pay $384 million settle charges its subsidiaries paid bribes to government officials in Bahrain, while Exxon suffers a rating cut and Bed Bath & Beyond falls on lowered fourth quarter and full year estimates.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

More from Video

KPMG US Chair and CEO: Survey Shows CEOs are Still Worried About Cyber

KPMG US Chair and CEO: Survey Shows CEOs are Still Worried About Cyber

Rent the Runway co-founder Chats with Cramer on Equal Pay and a Good Pair Jeans

Rent the Runway co-founder Chats with Cramer on Equal Pay and a Good Pair Jeans

Video: Jim Cramer Reacts to Tiffany's Better Than Expected Earnings

Video: Jim Cramer Reacts to Tiffany's Better Than Expected Earnings

Jim Cramer: Union Pacific Is Positive on NAFTA Talks

Jim Cramer: Union Pacific Is Positive on NAFTA Talks

Jim Cramer: I Remain Constructive on Micron Shares

Jim Cramer: I Remain Constructive on Micron Shares