00:00I thought we'd do a little Cracker Barrel, the ticker symbol CBRL. It is up a two and a quarter
00:07percent. And you know what? It has had quite the year. I checked that on the trail. 110% higher
00:12year to date. It was really beaten down. It was beaten down. That's a good point. So Cracker
00:17Barrel says it expects to meet or beat its full year revenue guidance. This is after divesting
00:22from its Maple Street biscuit business. It says that's going to help it focus on its core Cracker
00:28Barrel brand. And it expects that to improve profitability. It also did another thing that
00:32is getting investors excited today. It completed a sale leaseback transaction in which it sold
00:3726 of its company owned Cracker Barrel locations. That deal generated about $77 million in proceeds.
00:43It says it's going to use that to bring down its debt. All right. You walk into the store.
00:48Yeah. You order the country boy breakfast with country ham as your meat. Now, the key point
00:54to this whole thing is the biscuits and gravy. Got to do it. And then you order, just bring
00:58me a pitcher of iced tea. I don't need the refills. Just bring me the pitcher. Sweetened
01:02or unsweetened? I go unsweetened.
01:04To the credit, they said we screwed up. There was none of this obstetrics, you know, like
01:09they made some changes and they said, oops. Yep, exactly. And people are coming back.
01:14There was a lot of handwritten. It was like, okay, back to what Paul Sweeney likes to see.
01:17Exactly. There you go.
01:18Next.
01:20Danaher, DHR, ticker symbol there, getting killed here, down 14.5%. That's on top of being down 12%
01:26year to date. Now, Danaher reported higher second quarter profit and revenue. They said it was driven
01:32by a strong performance at its life sciences business, and that prompted the company to
01:37raise its outlook for the year. But what am I going to say? The outlook wasn't good enough
01:41because there are these lofty expectations. But Danaher's CEO, Rainier Blair, crediting the
01:47quarter's performance in part to the company's life sciences segment, he said that a really
01:51strong quarter they expect to exit this year at a mid-single-digit core revenue growth rate.
01:56But the stock, again, down and other life science stocks are lower in sympathy. So Thermo Fisher,
02:02Agilent, lower as well.
02:04All right.
02:05Let's move on to Equifax, the credit reporting bureau. We all know it. The ticker symbol there,
02:10EFX, another stock deep in the red here, down 17% and off more than 30% in just the
02:17past year.
02:17So Equifax narrowing its earnings and revenue outlook for the full year after profit fell,
02:23and that's despite higher revenue in the latest quarter. So let's start with the positive.
02:27Revenue up 11%, topping analyst estimates. Company pulled in more mortgage revenue and saw
02:31strength across its business units, but it posted a smaller profit than a year ago when it had more
02:37shares outstanding. They said the lower profit tied to a higher cost of services. That squeezed
02:42operating margins in some key segments. It also endured a one-time $40 million pre-tax charge from
02:48a legal settlement. I saw that in the report. So that's also putting some pressure on Equifax.
02:52Hey, do we have time for SpaceX?
02:54Sure.
02:54All right. Stock up about 1% pre-market, finally, you might say, because it has been lower for seven
03:01straight trading days. Shares at 121 each, well below that 135 share price it went public at last
03:08month. It has wiped out a trillion dollars in market cap since its peak on June 16th. Remember
03:13that Falcon 9 launch carrying 24 Starlink satellites? It was aborted before takeoff on Monday. They're going
03:19to try to do it again this Thursday. But about 17% of SpaceX shares available for trading have been
03:26sold short. That is a high percentage. That raises the chance of a short squeeze when bearish investors
03:32rush to buy the stock.
03:33This is going to be one where just the sellers exhaust themselves.
03:36Right.
03:36I agree.
03:38People who own it, they own it, and they own Elon, and then that'll help it find its floor. And
03:44then if
03:44they want to own some more, they can buy it.
03:45But it's not actually, is this a long-term trade? I mean, is this a long-term stock?
03:48People who own it, yes. It's going to trade like Tesla traded. So you just got to let sellers
03:54exhaust themselves, and then that'll form the bottom, and there you go.
03:57Yeah, I got to close $119.85. It's popping here this morning.
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