Let's talk earnings.
McDonald's reported adjusted earnings of $2.11 per share, missing analyst expectations of $2.21 per share. Group revenues, McDonald's said, rose 1% to $5.4 billion, modestly shy of the $5.49 billion expected by analysts that follow the restaurant group.
Comparable global sales, however, rose 5.9% from last year, topping the consensus forecast of 5.5% billion, but slowing from the 6.2% pace recorded over the second quarter. U.S. comparable sales were up 4.8% compared to the 5.7% pace of the prior quarter, McDonald's said, while international sales were up 5.6%.
So, has the consumer lost its appetite for McDonald's?
Beyond Meat...and GoPro?
Cramer took to his Real Money column Tuesday morning to compare Beyond Meat to GoPro.
"Not many stocks have captured the imagination of the public like Beyond Meat. One of them was GoPro, the so-called ecosystem that, among other things, you wore on your head while doing something someone might find interesting. Back in June of 2014, GoPro (GPRO) - Get Report priced one of the hottest deals of the era at $24. The stock quickly soared to $95 about four months later, again on a short squeeze. Like Beyond Meat, you couldn't locate any shares to sell short," wrote Cramer. "Then, like Beyond Meat, the underwriters allowed the lock-up to expire early, giving Nicholas and Jill Woodman, the founders, a chance to sell 5.8 million shares to a new foundation. The stock never looked back either and it quickly fell to $38 after the early expiration."
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