ACTUALLY ROSE ALMOST 2% TODAY.
I THOUGHT THAT WAS ASTONISHING.
STUART: ALL RIGHT.
THE OPENING BELL HAS RUNG, AND
WE’RE OFF AND RUNNING AS THE DOW
INDUSTRIALS ARE UP A HALF
PERCENTAGE POINT, 168 POINTS.
ABOUT TWO-THIRDS, ALMOST
THREE-QUARTERS OF THE DOW 30 ARE
IN THE GREEN.
WILLS SOME BUYING THIS
MORNING -- THERE IS SOME BUYING
THIS MORNING.
THE DOW’S UP HALF A PERCENT, S&P
UP HALF A PERCENTAGE POINT, JUST
BETTER THAN THAT.
THE NASDAQ COMPOSITE ALSO UP
TWO-THIRDS OF 1%.
SHOW ME BIG TECH, I BET THEY’RE
ALL ON THE UPSIDE, YES, SIR,
THEY ARE.
APPLE, AMAZON, PET THAT, 162. --
META.
MICROSOFT BACK UP TO -- 2 THE
77.
SOME BIG NAMES REPORTED BEFORE
THE BELL THIS MORNING.
THEY INCLUDE MODERNA.
IT’S UP 5%, LAUREN.
LAUREN: THEIR SALES ROSE 9,
THEY’RE STILL SELLING COVID
VACCINE.
IT’S NOT ALL POSITIVE, THEIR
PROFITS FELL BECAUSE THEY MADE
TOO MUCH VACCINE, THEN DOSES
EXPIRED, AND IT COST THEM HALF A
BILLION IN THE PROCESS.
ALL IN, A GOOD REPORT, AND THE
BOARD AUTHORIZED THE NEW $3
BILLION SHARE REPURCHASE
PROGRAM.
THAT ALWAYS HELPS.
OUTER STUART $3 BILLION?
OH, THAT’LL HELP.
UNDER ARMOUR, THEY CUT THEIR
PROFIT TARGET OR --
LAUREN: YES, THEY DID.
STUART: BUT IT’S THE UP 3.8%.
LAUREN: ISN’T THIS AMAZING?
THEY ACTUALLY CAME OUT AND SAID
WE HAD A LOT OF INVENTORY, WE
HAD A CUSTOMER THAT WASN’T
SHOPPING AS MUCH, SO WE CUT
PRICES IN ORDER TO MOVE THE
ITEMS, GET THEM OFF THE
SHELVINGS.
AT THE SAME TIME, THEY’RE PAYING
MORE TO SHIP THESE ITEMS AND GET
THEM TO THEIR STORES.
THE STOCK WAS DOWN IN THE
PREMARKET, BUT INVESTORS ARE
GOING THROUGH THIS REPORT, AND
THEY MIGHT SEE SOMETHING
ENCOURAGING.
STUART: IT’S A PRETTY
BROAD-BASED RALLY, AND UNDER
ARMOUR GETS SOME ADVANTAGE OUT
OF THAT.
CVS, THEY’RE UP AS WELL.
LAUREN: THEY LIFTED THEIR
FULL-YEAR PROFIT FORECAST.
YOU ALWAYS WANT TO SEE THE LIFT.
THEY SEE A STRONG DEMAND FOR --
THEY’RE STARTING TO OFFER AND
TEST KITS FOR COVID.
THE MANAGEMENT SAID, LOOK, 4
MILLION IF SOLD IN THE SECOND
QUARTER AND GOING FORWARD 19
MILLION IS WHAT THEY EXPECT.
SO PEOPLE ARE ARE STILL GOING IN
AND BUYING --
STUART: REALLY?
I DON’T SEE MANY PEOPLE TESTING
THESE DAYS.
LAUREN: I THINK A LOT OF PEOPLE
JUST DON’T WANT TO KNOW.
IF YOU FEEL FINE, NO PROBLEM
HERE.
STUART: HERE’S THE ONE THAT I
REALLY WANT TO SEE, THAT IS
AIRBNB.
NOW, I KNOW THEY HAVE A HUGE
JUMP IN REVENUES.
CAN YOU EXPLAIN WHY THEY’RE DOWN
6%?
LAUREN: I DON’T HAVE CONVICTION
IN MY EXPLANATION --
[LAUGHTER]
BECAUSE THERE WAS A TERRIFIC
REPORT CARD.
THE REASON THAT THEY’RE DOWN IS
THE RECORD GROWTH THAT THEY SAW
IN THIS PAST QUARTER, IT’S TEPID
FOR THIS CURRENT QUARTER.
THEY CAN’T KEEP INCREASING THE
GROWTH RATE.
THE REPORT CARD WAS AMAZING.
THE NUMBER OF NIGHTS BOOKED HIT
AN ALL-TIME HIGH, RIGHT?
THEIR REVENUE THAT THEY CHARGE
PER NIGHT WENT UP A LITTLE BIT,
1%, $154.
THAT’S CHEAPER THAN A HOTEL, SO
YOU’D THINK YOU’D CONTINUE TO
BRING IN DEMAND, AND THEY TURNED
A PROFIT FOR THE FIRST TIME
SINCE 2020.
IT WAS A GREAT REPORT CARD.
A SLEW OF ANALYSTS CUTTING THEIR
PRICE TARGETS ON THE STOCK, HAY
DON’T LIKE THE FORECAST.
I WOULD PARALLEL TO WHAT WITH WE
SAW FROM MARRIOTT.
GOOD REPORT CARD, BUT INVESTORS
SAY, WELL, CAN YOU REALLY KEEP
UP THIS RAPID, RECORD GROWTH?
MAYBE THEY DON’T THINK WITH A
SLOWING ECONOMY THAT WE CAN.
STUART: OH, THOSE ANALYSTS.
[LAUGHTER]
MOVING ON, MATCH GROUP, ANOTHER
DATING OPERATION, HUGE DROP.
LAUREN: YEP.
STUART: 21 --
LAUREN: OH, WOW.
STUART: NOT ME, BUT OTHER PEOPLE
ARE NOT DATING SO MUCH?
LAUREN: WELL, MAYBE NOT PAYING
TO SUBSCRIBE TO THESE APPS,
MATCH, TINDER, O.K. CUPID, SO,
YEAH, THE STOCK IS LOSING VALUE.
THERE’S A COUPLE OF PROBLEMS.
THE IS -- CEO OF TINDER IS
SUDDENLY OUT AFTER JUST A YEAR,
THEY HAD A DOWN BEAT FORECAST
FOR THIS QUARTER, AND THEY’RE
CUTTING BACK ON THEIR MARKETING,
CUTTING BACK ON THEIR HIRING.
SO THESE BIG PLANS THAT THEY HAD
FOR STUFF LIKE DATING IN THE
METAVERSE AND PAYING FOR IT WITH
VIRTUAL CURRENCIES, MAYBE THAT
WON’T HAPPEN.
[LAUGHTER]
I KNOW, THAT’S SO EXCITING TO SO
MANY PEOPLE, TO DATE IN THE
METAVERSE.
STUART: EVERYBODY KNOWS WHY I’M
LAUGHING, WHY ARE YOU?
>> I’M LAUGHING BECAUSE YOU’RE
LAUGHING.
DATING IN THE METAVERSE, THAT IS
THE HIGHLIGHT OF MY AUGUST SO
FAR.
STUART: DREAM ON, SON.
THE ACTIVIST INVESTORS KNOWN AS
ELLIOT MANAGEMENT, HEAVY GOT A
BIG STAKE IN PAYPAL.
LAUREN: YEAH.
STUART: I WANT TO KNOW HOW BIG
AND WHAT THEY’RE GOING TO DO
WITH IT.
LAUREN: A FEW MILLION DOLLARS, I
CAN GIVE YOU SOME IDEAS, THEY
CAN BEEF UP VENMO, WHICH IS VERY
POPULAR, CUT COSTS, RIGHT?
IF YOU LOOK AT PAYPAL’S
EXPENSES, THEY’RE ALMOST DOUBLE
THAT OF THEIR PEERS.
BUT WHAT ABOUT BUYING PINTEREST?
AND I SAY PINTEREST BECAUSE
ELLIOT IS THE LARGEST
SHAREHOLDER IN PINTEREST.
IS THERE SOME WAY THAT THESE TWO
PANDEMIC WINNERS THAT BOTH START
WITH P, ELLIOT MANAGEMENT AS A
HUGE INVESTOR, CAN THEY COME
TOGETHER?
STUART: INVESTORS WANT TO KNOW
THE ANSWER TOO.
THEN WE HAVE STARBUCKS, I KNOW
THEY REPORTED LATE YESTERDAY
AFTER THE BELL, I KNOW THAT.
HOW DID THEY DO IN CHINA?
LAUREN: NOT GOOD, DOWN 44% --
STUART: WHOA.
LAUREN: WHAT DO YOU EXPECT?
YOU CAN’T DO ANYTHING IN CHINA.
PLUS, THEIR U.S. NUMBERS WERE
FANTASTIC.
WHAT ARE PEOPLE DOING?
THEY’RE GETTING IN THE CAR THREE
DAYS A WEEK WITH, DRIVING TO
WORK AND STOPPING BY THE
STARBUCKS DRIVE-THROUGH.
SEAM-STORE SALES UP --
SAME-STORE SALES UP 9%.
MORNING COFFEE, THE MORNING
BREAKFAST MENU IS HALF OF THEIR
OVERALL QUARTERLY MENU, AND COLD
DRINKS ARE RESPONSIBLE FOR
THREE-QUARTERS OF THAT.
STUART: WE ARE DRINKING
STARBUCKS.
LAUREN: YOU WILL NEVER GO OUT
AND BUY $5 DRINKS, BUT ORE
PEOPLE -- OTHER PEOPLE ARE.
THE RETURN TO NORMAL.
EXPENSIVE COFFEE.
DO YOU DO THAT,?
>> I DO NOT.
BY THE WAY, I’M VERY IMPRESSED
BY THIS IS HOW YOU DRIVE.
LAUREN: I BUY MY STARBUCKS EVERY
DAY AT THE DRIVE-THROUGH --
>> I’M LIKE STUART, I’M CHEAP.
STUART: DO IT AT HOME, IT’S
FREE.
>> FREE HERE TOO, YEAH.
LAUREN: IT TASTES BETTER THAN
OTHER COUGH PEE.
STUART: IT’S STILL GOT --
COFFEE.
LAUREN: 1.25 TO ADD A SWEET
CREAM, OUTRAGEOUS.
>> WE’VE GOT TO TRAIN HER,
STUART.
[LAUGHTER]
STUART: I’M TRYING.
CHECK THAT BIG BOARD BECAUSE
WE’RE UP 200 POINTS.
PRETTIED GOOD RALLY AFTER
YESTERDAY’S SELLOFF.
THE TENSION AROUND TAIWAN HAS
EASED A LITTLE.
UP GOES THE MARKET.
DOW WINNERS, WHO’S THE LEADER
THERE?
I’LL TELL YOU WHEN WE PUT IT ON
THE SCREEN, IT IS NIKE.
UP 2.25%.
DISNEY’S UP THERE TOO.
AMERICAN EXPRESS, SALESFORCE,
HOME DEPOT.
S&P 500, THE TOP STORY THERE IS
UNUM GROUP.
PAYPAL IS ON THAT LIST, # 1% --
11% GAIN.
AND MODERNA.
NASDAQ WINNERS, ANY BIG TECH THE
ON THERE?
PAYPAL, REGENERON, GILEAD, O.K.
THAT, MICROCHIP.
NO BIG TECH.
HOW ABOUT THE 10-YEAR TREASURY?
THERE’S A HEADLINE FOR YOU.
THIS TIME YESTERDAY WHEN THERE
WAS ALL THAT TENSION AROUND
TAIWAN, THE YIELD ON THE 10-YEAR
TREASURY WAS DOWN TO 2.51,
2.50%.
NOW IT’S ALL THE WAY BACK UP
AGAIN TO 2.78.
HAAS ONE OF THE BIGGEST MOVES IN
BONDS THAT I’VE SEEN MANY A LONG
TIME.
GOLD IS AT $1800 AN OUNCE?
NO, 1784.
BITCOIN, HAS IT REACHED $24,000?
NO, IT’S 23,400.
OIL, HAS IT GO -- GOT TO $100?
NO, 94.
NAT GAS, 7.66, AND GASOLINE
THAT’S DOWN TWO, A COUPLE OF
CENTS LOST EVERY DAY.