CNBC’s Jim Cramer on Friday said that next week’s jam-packed week of earnings and economic data releases could result in good news for the Federal Reserve’s battle against inflation.
“This market’s trading like next week, we’ll see some real signs that the Fed’s winning its war on inflation, and they can, therefore, ease up on the rate hikes going forward… I wouldn’t be at all surprised if the market got it exactly right,” he said.
Cramer named two important economic events he’s watching next week: the FOMC’s next meeting, which is expected to conclude with a 0.75 percentage point interest rate increase, and the nonfarm payroll report.
“You can’t get a reduction in wages until you see many people losing their jobs, and that’s what the Fed needs to see,” he said.
Cramer also previewed next week’s slate of earnings. All earnings and revenue estimates are courtesy of FactSet.
Tuesday: Eli Lilly, Uber, Devon Energy, AMD
Eli Lilly
Q3 2022 earnings release at 6:25 a.m. ET; conference call at 9 a.m. ET
Projected EPS: $1.91
Projected revenue: $6.89 billion
The company has the chance to shine now that health care stocks are some of the new market leaders, he said.
Uber
Q3 2022 earnings release at 7:05 a.m. ET; conference call at 8 a.m. ET
Projected loss: loss of 18 cents per share
Projected revenue: $8.11 billion
Cramer said that if the company reports that there are plenty of drivers but customers can’t afford rides, that’ll be great news for the Federal Reserve.
Devon Energy
Q3 2022 earnings release at 4:05 p.m. ET; conference call on Wednesday at 11 a.m. ET
Projected EPS: $2.12
Projected revenue: $4.16 billion
While the company is doing well, investors shouldn’t buy shares of oil companies when the economy is weakening, he warned.
AMD
Q3 2022 earnings release at 4:15 p.m. ET; conference call at 5 p.m. ET
Projected EPS: 70 cents
Projected revenue: $5.69 billion
Cramer said he’s interested in knowing if AMD is losing market share to Intel.
Wednesday: Humana, CVS, Qualcomm
Humana
Q3 2022 earnings release at 6:30 a.m. ET; conference call at 9 a.m. ET
Projected EPS: $6.27
Projected revenue: $22.82 billion
CVS
Q3 2022 earnings release at 6:30 a.m. ET; conference call at 8 a.m. ET
Projected EPS: $2
Projected revenue: $76.74 billion
“I fear that CVS is considered a Covid play. Humana is a post-Covid darling,” Cramer said.
Qualcomm
Q4 2022 earnings release at 4 p.m. ET; conference call at 4:45 p.m. ET
Projected EPS: $3.14
Projected revenue: $11.33 billion
He said he wouldn’t be surprised if the stock went up even on a guidance cut, given how much shares of Qualcomm have declined this year.
Thursday: Starbucks, PayPal, DoorDash
Starbucks
Q4 2022 earnings release at 4:05 p.m. ET; conference call at 5 p.m. ET
Projected EPS: 72 cents
Projected revenue: $8.32 billion
He said he expects the company to report a solid quarter.
PayPal
Q3 2022 earnings release at 4:15 p.m. ET; conference call at 5:30 p.m. ET
Projected EPS: 96 cents
Projected revenue: $6.81 billion
“I think PayPal has a chance to regroup here, as their flagging days have probably ended,” Cramer said.
DoorDash
Q3 2022 earnings release at 4:05 p.m. ET; conference call at 5 p.m. ET
Projected loss: loss of 59 cents per share
Projected revenue: $1.63 billion
He said that DoorDash is “inviting skepticism” since people aren’t getting their food delivered as frequently as they did during the height of the Covid pandemic.
Disclaimer: Cramer’s Charitable Trust owns shares of Eli Lilly, Devon Energy, AMD, Humana, Qualcomm and Starbucks.
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Check out the companies making the biggest moves midday:
Cisco Systems — Shares of the networking equipment producer jumped 5.8%. The company reported earnings after the bell on Wednesday that beat estimates. Cisco also provided a better-than-expected forecast for 2023.
Bed Bath & Beyond — The latest favored meme stock, which has surged in August, dropped over 20%. Investors appeared to be reacting to activist investor Ryan Cohen’s filing that he intends to sell his entire stake in the company.
Kohl’s — Kohl’s shares sank about 5% after the retailer slashed its financial forecast for the year, citing inflation pressures on middle-income customers. The company expects net sales in fiscal 2022 down 5% to 6%, down from a prior range of flat to up 1%. However, Kohl’s beat analysts’ expectations for fiscal second-quarter profit and revenue.
BJ’s Wholesale — Shares of the club retailer popped more than 7% on Thursday after BJ’s reported better-than-expected results for the second quarter. The company generated $1.06 in adjusted earnings per share on $5.01 billion of revenue. Analysts surveyed by FactSet were expecting 80 cents per share on $4.67 billion of revenue. The company’s comparable sales rose 7.6% year over year, excluding gasoline. BJ’s was also upgraded by Bank of America to a buy from neutral.
Elanco Animal Health — Shares of Elanco shed more than 3% after the company was downgraded by Morgan Stanley. The firm shifted the stock to equal weight from overweight citing concerns about future profits.
Verizon — Shares of Verizon slipped 2.7% after MoffettNathanson downgraded it to underperform and slashed its price target. Increased competition from AT&T and T-Mobile is weighing on Verizon and will likely drag shares lower, analysts said.
Canadian Solar — The solar equipment and services company hit a new 52-week high, popping nearly 18%, after reporting quarterly profits that beat expectations. Canadian Solar also raised its full-year revenue forecast and reported solar module shipments that were at the high end of its forecast.
Wolfspeed — Shares surged more than 27% after the semiconductor company surpassed expectations in its most recent earnings report. Wolfspeed CEO Gregg Lowe said he remains “very encouraged about the industry’s prospects for future growth and the activity we are seeing across our end-markets.”
Walgreens Boots Alliance — Shares of Walgreens fell more than 5% in midday trading. The drugstore chain, along with CVS and Walmart, was ordered Wednesday by a federal judge to pay a combined $650.6 million to two Ohio counties to address damage done by the opioid crisis. Walgreens also announced Wednesday it had sold 11 million shares of Option Care Health’s common stock in an underwritten secondary offering.
Energy stocks — Energy stocks were buoyed by the rise in oil prices, with shares of Devon Energy rising more than 3%. Halliburton jumped 4%, and APA added more than 5%. Exxon Mobil and Occidental Petroleum and both gained about 2%.
—CNBC’s Jesse Pound, Carmen Reinicke and Sarah Min contributed reporting.
Stock futures fell slightly following the market’s best month since 2020 as investors look ahead to another week of key earnings reports and economic data.
The Dow Jones Industrial Average futures fell by 67 points, or 0.2%. S&P 500 futures shed around 0.2% and Nasdaq 100 futures dipped by 0.3%.
On Friday, all major indexes gained, posting winning weeks and capping off the best month of the year so far and then some. The Dow gained 6.7% in July, while the S&P 500 added 9.1%. The Nasdaq Composite rose 12.4% as investors rushed into the tech stocks beaten up the most during this bear market. For each index, July’s performances were the best since 2020.
“We are seeing a relief rally in the stock market, as pessimism reached extreme levels, and as longer-term interest rates have been coming back down,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.
“We believe the rally will last until later in the summer, but as stock prices rebound and it becomes increasingly clear that we are headed for a more typical recession (e.g. one with higher unemployment and nominal GDP dropping close to zero or negative), markets will again have another selloff,” he added. “But until that time, enjoy the rally as it’s likely catching a lot of people off guard.”
This week, investors have more economic data and company earnings to digest. On Monday, companies such as Activision Blizzard, Devon Energy, Loews and more report earnings. Later in the week Uber, Caterpillar, Starbucks, Eli Lilly, Amgen and others also have scheduled reports.
In addition, the Friday nonfarm payrolls report from the Bureau of Labor Statistics will give more insight into the strong labor market. So far this year, the solid growth of jobs has prompted economists to say the U.S. is currently not in a recession, even with two consecutive quarters of negative GDP.
The logo and trading symbol for Twitter is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, July 11, 2022.
Brendan McDermid | Reuters
Check out the companies making headlines in midday trading.
Unity Software — Shares tumbled 17% after the interactive software company announced a merger agreement with app software company ironSource in a $4.4 billion all-stock transaction. Unity also cut its full-year revenue guidance. Shares of ironSource soared more than 45% on the news.
Stitch Fix — Shares of Stitch Fix surged 18% after Bill Gurley of Benchmark Capital, who also sits on the board of the clothing company, announced that he’d bought 1 million shares of the stock, adding to his previous stake of 1.22 million shares. Gurley paid an average price of $5.43 per share for the stock, according to an SEC filing.
Twitter — Shares of the social media company climbed more than 8% after the firm filed suit against Elon Musk after he terminated his $44 billion deal to buy the company. Twitter said that Musk’s conduct during his pursuit of the social network amounted to “bad faith.” The stock is still down nearly 2% week to date.
DigitalOcean — Shares of the cloud computing company dropped 2% after Goldman Sachs issued a double downgrade to sell from buy. DigitalOcean could get hit with slowing demand, particularly from consumers overseas, the firm said.
Delta Air Lines — Shares of Delta Air Lines dropped 6% following a mixed earnings report. Other airline stocks dropped. Shares of American Airlines also declined more than 4%, and Alaska Air Group fell more than 2%.
Fastenal — Shares of Fastenal declined 5% after the industrial supplies company reported softening demand in its most recent quarter. “Demand remained generally healthy, but there were certain signs of softening that emerged in May and June,” read remarks from CEO Daniel L. Florness.
Gap — Shares of the retailer dropped 2.5% on the heels of a downgrade to hold from buy at Deutsche Bank. The firm cited execution issues at the company, the increased promotional environment of retail and the departure of CEO Sonia Syngal as reasons for the downgrade.
Advanced Micro Devices — Several chip stocks outperformed on Wednesday. Shares of Advanced Micro Devices and Qualcomm each jumped more than 2%.
— CNBC’s Yun Li, Jesse Pound and Carmen Reinicke contributed reporting
A person wearing a protective mask enters a Chipotle restaurant in San Francisco, California, U.S., on Monday, April 19, 2021.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines in midday trading.
CarMax — CarMax shares dipped more than 8% after reporting a beat on revenue but a miss on earnings for the latest quarter. The auto retailer earned 98 cents per share, below the $1.25 per share consensus estimate.
CrowdStrike — Shares of the cybersecurity company jumped 3.7% after Goldman Sachs upgraded the stock to a “buy” from “neutral.” The firm said the strength of CrowdStrike’s business has been overlooked recently and that it’s “well positioned in the sweet spot of demand.”
PG&E — Shares of the utility company rose 3% after it reached settlements to pay $55 million for two fires in Northern California. As part of the agreement, PG&E will not face any criminal prosecution.
Cisco Systems — Shares of the network technology company fell about 1%, lagging behind the broader market, after Citi downgraded Cisco to sell from neutral. A Citi analyst said in a note to clients that Cisco was losing market share to its rivals.
Hewlett Packard Enterprise — Shares of Hewlett Packard Enterprise dipped 1% after Morgan Stanley downgraded the stock to underweight from equal weight and said it expects the stock to underperform over the next year.
Chegg — Shares of Chegg dropped 5.5% following a downgrade by KeyBanc Capital Markets. Analysts downgraded Chegg to sector weight from overweight, saying the company reported lower growth in the U.S. in its first quarter.
Chipotle — Shares of the restaurant chain rose 3.1% after Citi initiated coverage of the stock with a buy rating. The firm said Chipotle is a “best-in-class growth leader.”
Albertsons — The food retailer’s stock sank 6.7% after reporting earnings for the recent quarter. Albertsons beat on revenue and reported earnings of 75 cents per share, 11 cents above consensus estimates.
Oil stocks — Energy stocks rose on Tuesday as oil prices, which have seesawed in recent weeks, jumped back above $100 a barrel. Marathon Oil, Devon Energy and Occidental Petroleum jumped 5.5%, 4.7% and 3.7%, respectively.
— CNBC’s Jesse Pound, Hannah Miao, Tanaya Macheel and Sarah Min contributed reporting
Investors should follow a certain set of rules when building their portfolios to weather the market volatility that Monday’s rally suggests could happen, Jim Cramer said.
“When you see new, unseasoned merchandise exploding higher, along with names like Tesla surging on … a stock split, it tells you there might be a little too much excitement, a little too much froth, for the entire market. One or two of these runs would be fine, but when you see all of the speculative assets roaring in an overbought market,” prepare for some turmoil, the “Mad Money” host said.
Tesla is looking to split its stock to pay a stock dividend to shareholders, according to a filing Monday. The news led to Tesla stocks rising 8%, leading a tech rally for the day that included names like Microsoft and Amazon.
The Dow Jones Industrial Average gained 0.27%, while the S&P 500 rose 0.7%. The Nasdaq Composite increased 1.3%.
The Cboe volatility index, Wall Street’s fear gauge, closed below 20 for the first time since mid-January.
On the heels of the market gains, Cramer listed rules investors should consider to successfully weather potential market turbulence down the line. Here are his suggestions:
The most important rule is to own an oil stock, since fuel prices are increasing. “My favorites are Chevron for a steady dividend. It’s pulled back too, and Devon [Energy] also pulled back, which pioneered a new way to reward shareholders,” Cramer said.
Choose some low price-to-earnings multiple stocks. Cramer said Google-parent Alphabet and Facebook-parent Meta, both at “historically cheap valuations,” are good options that can withstand soaring inflation.
Consider a health care stock that can do well even if the Federal Reserve‘s interest rate hikes slow the economy down. “My favorite remains Eli Lilly,” Cramer said.
Own stock of a consistent retailer that can keep ahead of inflation. Cramer recommended Costco and said to avoid Dave & Buster’s.
Own one or two speculative stocks, but be careful. “I think it’s a great way to stay interested in the stock market. … But if you’re going to speculate, you have to be prepared for the possibility that these stocks could go to zero. Never buy something like AMC or GameStop with money you can’t afford to lose,” Cramer said.
Disclosure: Cramer’s Charitable Trust owns shares of Amazon, Microsoft, Alphabet, Meta, Chevron, Devon, Eli Lilly and Costco.
CNBC’s Jim Cramer on Friday looked ahead to next week’s of earnings reports, detailing for investors his key market events to keep an eye on.
The “Mad Money” host’s comments came after all three major U.S. equity indexes closed at record highs Friday, despite disappointing quarterly results a day earlier from market heavyweights Amazon and Apple.
All revenue and per-share earnings projections are based on FactSet estimates:
Mad Money with Jim Cramer
Monday: ON Semiconductor, NXP Semiconductors, Diamondback Energy and Clorox
On Semiconductor
Q3 results before the bell; conference call at 9 a.m. ET Monday
Projected EPS: 74 cents
Projected sales: $1.7 billion
NXP Semiconductors
Q3 results; conference call at 8 a.m. ET Tuesday
Projected EPS: $2.75
Projected sales: $ 2.85 billion
Both companies’ earnings will offer “a read on one of the biggest stories in this market, and that’s the semiconductor shortage,” Cramer said. “They do a lot of auto semis, and they’ve got exposure to many of the others areas where there are the biggest bottlenecks.”
Diamondback Energy
Q3 results after the close; conference call at 9 a.m. ET Tuesday
Projected EPS: $2.79
Projected revenue: $1.54 billion
Clorox
Q1 2022 results after the bell; conference call at 5:30 p.m. ET Monday
Projected EPS: $1.03
Projected revenue: $1.7 billion
“I hope for the best, but I am preparing for the worst,” Cramer said, noting the household products maker may not be able to pass through all of its higher commodity costs, possibly hurting margins.
Q1 2022 results before the open; conference call at 9:30 a.m. ET Tuesday
Projected EPS: $1.70
Projected sales: $4.25 billion
DuPont
Q3 results before the bell; conference call at 8 a.m. ET Tuesday
Projected EPS: $1.12
Projected sales: $4.16 billion
Cramer’s charitable trust owns both Estee Lauder and DuPont. “I don’t expect them to have superb quarters. Fortunately, the expectations are low, though, so it won’t take much to produce an upside surprise that moves the stocks up,” he said.
Pfizer
Q3 results before the open; conference call at 10 a.m. ET
Projected EPS: $1.08
Projected revenue: $22.58 billion
“Unlike Moderna, Pfizer’s a lot more complicated than just a Covid vaccine story. See, they’re facing what’s known as a patent cliff next year,” Cramer said. “We need to know if the boosters, which cost a lot of money, … are going to cover the patent cliff.”
BP
Q3 results before the bell; conference call at 5 a.m. ET Tuesday
Projected EPS: £ 10.83
Projected revenue: £29.06 billion
Devon Energy
Q3 results after the close; conference call at 11 a.m. ET Wednesday
Projected EPS: 93 cents
Projected sales: $3.23 billion
T-Mobile
Q3 results after the close; conference call at 4:30 p.m. ET Tuesday
Projected EPS: 48 cents
Projected revenue: $20.22 billion
“The [telecommunications] industry has got a clear pecking order: T-Mobile for growth, Verizon for the dividend, and AT&T for nothing. Let’s see how many subscribers T-Mobile has been able to steal from its rivals when they report,” Cramer sad.
Zillow
Q3 after the close; conference call at 5 a.m. ET Tuesday
Projected EPS: 16 cents
Projected revenue: $2 billion
“They had to put the real estate flipping business on pause because the economics turned out against them, but what does that really mean? We’re going to find out on Tuesday,” Cramer said.
Q3 results before the bell; conference call at 8 a.m. ET Wednesday
Projected EPS: $1.79
Projected revenue: $70.5 billion
“This stock’s been on a roll, bolstered by Covid vaccines and superior execution, at least compared to arch-rival Walgreens. I don’t know if it can continue now that the pandemic’s winding down, but remember that CVS also has a huge health insurance business,” Cramer said.
Humana
Q3 results before the open; conference call at 9 a.m. ET Wednesday
Projected EPS: $4.66
Projected revenue: $20.9 billion
Cramer said he expects the health insurer’s numbers to be even better than rivals Centene and UnitedHealth Group.
Marriott International
Q3 results before the bell; conference call at 8:30 a.m. ET Wednesday
Projected EPS: 99 cents
Projected sales: $3.71 billion
Wynn Resorts
Q3 results after the close
Projected EPS: Loss of $1.36
Projected revenue: $943 million
Cramer said he expects Marriott International to have a better story to tell about the hospitality recovery compared to Wynn Resorts, which his charitable trust owns. He said that’s because of Wynn Resorts’ exposure to the gaming hub of Macau.
Qualcomm
Q4 results after the close; conference call at 4:45 p.m. ET Wednesday
Projected EPS: $2.26
Projected revenue: $8.85 billion
“They’ll give us more insight into the cellphone market, but I bet that can’t be that positive, either,” Cramer said, alluding to the chip crunch.
Etsy
Q3 results after the close; conference call at 5 p.m. ET Wednesday
Projected EPS: 55 cents
Projected revenue: $519 million
“I bet CEO Josh Silverman will have a lot of good to say about his e-commerce platform for handicrafts—should make a nice contrast to Amazon’s disappointing quarter,” Cramer said.
Thursday: Uber, Skyworks Solutions, Peloton and Square
Uber
Q3 results after the close; conference call 5 p.m. ET Thursday
Projected EPS: Loss of 34 cents
Projected revenue: $4.41 billion
“I think Uber can deliver, but the stock’s been kept down by persistent sellers, so even a good quarter might not matter, at least not until these weak hands finish dumping their shares,” Cramer said.
Skyworks Solutions
Q4 results after the bell; conference call at 4:30 p.m. ET Thursday
Projected EPS: $2.55
Projected sales: $1.3 billion
“Maybe they give us some insight into when the chip shortage nightmare can come to an end,” Cramer said.
Peloton
Q1 2022 results after the close; conference call at 5 p.m. ET Thursday
Projected EPS: Loss of $1.10
Projected sales: $809 million
The fitness equipment maker was a major pandemic winner, but the stock has struggled to gain traction since investors shifted toward reopening plays, Cramer said. “I think they’ve got their work cut out for them.”
Square
Q3 results after the close; conference call at 5 p.m. ET Thursday
Projected EPS: 37 cents
Projected revenue: $4.38 billion
“I’m betting their mojo will be absent for now, mojo being a technical term on Wall Street for the massive love a stock gets after a monster beat and raise quarter,” Cramer said.
Friday: Enbridge and October nonfarm payrolls
Enbridge
Q3 results before the bell; conference call at 9 a.m. ET Friday
Projected EPS: 57 cents
Projected revenue: $9.62 billion
Cramer said he likes the company’s dividend payment. “Plus, we have a real shortage of energy infrastructure, so I bet business is good,” Cramer said.
The Labor Department’s report on nonfarm payrolls for the month of October is out at 8:30 a.m. Friday, but Cramer cautioned the recent monthly reports have been “all over the map right now,” making their appearance “seem deceiving.”
Bundles of steel from Nucor Corp. sit for sale to at Thompson Building Materials in Lomita, California, U.S., on Thursday, Aug. 30, 2012.
Patrick Fallon | Bloomberg | Getty Images
Check out the companies making headlines in midday trading.
American Airlines, United Airlines, Delta Air Lines — Shares of American Airlines the major airlines rose over 1% Monday after the White House said it would ease travel restrictions for international travelers who are vaccinated against Covid-19. Shares of Delta and United gained earlier but ticked down nearly 0.2% each.
China Evergrande Group— Shares of the embattled Chinese property giant dropped 10% on the Hong Kong Stock Exchange. The company has been scrambling to pay its suppliers, and warned investors that it could default on its debts. Last week, the company said its property sales will likely continue to drop significantly in September several months of weakness.
Centerpoint Energy, Dominion Energy — Utility stocks rose on Monday as investors shifted toward defensive plays during the broader market slide. Shares of Centerpoint and Dominion rose roughly 1% each.
Nucor, Freeport-McMoRan, Ford, Caterpillar — Stocks linked to global growth declined Monday. Steel stock Nucor declined 8.4%, miner Freeport-McMoRan fell 6.6%, auto maker Ford dropped 6% and construction equipment manufacturer Caterpillar retreated 4.8%.
APA, Devon Energy — Energy stocks tumbled amid a drop in oil pries on concerns about the global economy. The S&P 500 energy sector fell 3.3%, becoming the worst-performing group among the 11 groups during Monday’s market sell-off. APA and Devon Energy both shed more than 6%. Occidental Petroleum dropped 6% and Hess slid over 5%.
Goldman Sachs, Bank of America, JPMorgan Chase — Financials stocks declined as the U.S. 10-year Treasury yield dropped, with falling rates typically crimping bank profits. Goldman Sachs, Bank of America and Citigroup all shed more than 4%. JPMorgan Chase and Morgan Stanley both declined more than 3%.
ARK Innovation, Coinbase, Tesla, Zoom, Square — Shares of Cathie Wood’s flagship fund dropped more than 4% as innovation names experienced harsh selling. Top holdings Coinbase and Teladoc both lost more than 5%. Unity Software shed over 5%, and Tesla dropped more than 3%. Square and Zoom Video dropped more than 3% each.
Pfizer — The drug maker stock ticked 0.3% higher after the company said its Covid vaccine is safe and appears to generate a robust immune response in kids ages 5 to 11. If the FDA spends as much time reviewing the data for that age group as it did for 12- to 15-year-olds, the shots could be available in time for Halloween.
AstraZeneca — Shares of the United Kingdom-based pharmaceutical company popped more than 4% in midday trading after announcing that its breast cancer drug Enhertu showed positive results in a phase-three trial.
Invesco — Invesco shares declined 9% Monday. The stock ran up on Friday following a Wall Street Journal report that the asset manager is in talks to merge with State Street’s asset management unit. The report, citing people familiar with the matter, said a deal is not imminent and might not happen at all.
— CNBC’s Maggie Fitzgerald, Yun Li and Jesse Pound contributed reporting
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Stamps.com: “I think you should sell it. I think it’s a stay-at-home, work-at-home, not-as-heavily shorted stock, and there’s better ones out there.”
Cemex: “Cemex is always a cheap stock and never seems to be able to deliver, frankly. Mexican cement, but I do believe Mexico is about to have a resurgence. Six bucks? Yeah, I’d do a little.”
JFrog: “They didn’t blow their numbers away. You know when you have that high multiple, you’re going to have to blow the numbers away, and they did not do it … I have to say no to the JFrog.”
Bank of America: “It’s the kind of stock that people want. I mean, there’s no doubt about it, but I do feel that … people are starting to regroup and say, ‘let’s just pull away from this market, let it come down a little,’ but Bank of America is very, very inexpensive as the group is, even after this run.”
Devon Energy: “I don’t like the oils, but [CEO] Rick Muncrief he is [ca-ching, ca-ching], so take it for what it’s worth.”
