Happy hump day!
Do you hear the people singing? Jim Cramer breaks down whether or not those recession bells are real or if you're just listening to too much Les Mis and Starbucks (SBUX) - Get Report and Real Money Stock of the Day Stitch Fix (SFIX) - Get Report .
How's the Market Looking?
After we saw the Dow fall over 200 points yesterday, should investors worry about a recession on the horizon?
What's Starbucks Doing?
Here's Cramer's current thoughts on the coffee giant.
"Starbucks has gone from being a must-own to being a must-sell because of those simple comments made at a Goldman Sachs conference by the CFO, in part because they stood in direct contradiction to what the company had been saying. The sellers simply believe that there was something else -- not the tax-related issue, but something involving sales weakness -- that was responsible, and it was really perceived as a guide down not an adjustment," said Cramer.
Stitch Fix's Earnings
The online clothing retailer beat fiscal fourth-quarter earnings expectations but issued a weaker-than-expected revenue forecast for the first quarter.
For the fourth quarter ended Aug. 3, the San Francisco online personal styling service earned 7 cents a share on revenue of $432 million vs. analysts' expectations for earnings of 4 cents on revenue of $432 million.
Stitch Fix said active clients during the quarter rose 18% to 3.2 million.
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