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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