00:00So let's begin with McDonald's. It is up about 1% here. It's having its investor day actually in
00:04Chicago. So it is earmarking about eight and a half billion dollars. So big investment here
00:10to help franchisees with a multi-year plan. They want to serve better food. They want to
00:14improve service like having greeters. I don't know if I need a greeter. I can do this. Welcome in.
00:21Yep. Welcome into McDonald's. And also they want to make restaurants easier to run. So more
00:25efficiency especially in the kitchen. So they're aiming to turn the chain into more than a stop
00:30for a quick cheap meal. They want to redesign restaurants as well. And you know same store
00:36sales last quarter didn't even rise by 1% in the U.S. So you know and there's intense competition
00:41especially from all those other chains that are trying to do the same thing with chicken.
00:45What's a chicken chains around? Well they can't make money on beef right? Exactly. There's a Chick-fil-A
00:51right down here on Lexington. There is. They make a lot of money. I didn't know that. Yeah. You'll
00:55see a lot of the young folks. A lot of people going in and out. Yeah. There's another chicken
00:58place across the street. I don't know the name. Okay. So many chicken places. Sweet Green where
01:02you are six days a week is not doing a five dollar. What is it? Ranchero? Yeah. Okay. Okay. There
01:10we go. Pollo Ranchero or something like that. Okay. Let's move on. I'm getting all caught up in the
01:15chicken. Steve's in the control room chowing down on Wendy's or something. Yeah. Next. Cracker barrel. You guys have
01:20been talking about it. We know you like your big breakfast. What is it called? The country breakfast. Full American.
01:24Okay. So it is up seven percent today. And you know what? It is up 79 percent. I didn't see
01:30that
01:30turn in the stock. Wow. That was quick. So their CEO or former CEO, Julie Messino, remember she
01:37oversaw that controversial rebranding. She changed the logo, wanted to bring in a younger generation.
01:41Everybody got upset, including President Trump. Now they have David Dino, former CEO of the owner
01:46of Outback Steakhouse. He started last month, but already before she was leaving, things were starting to
01:51turn around because we see it in their latest profit report, a higher quarterly profit. They
01:56guided for sales to grow in the year ahead, pointing to continued improvement in traffic and other
02:01metrics. I'll tell you, Mike Halen, Bloomberg Intelligence, he called, he says, this thing's
02:04going to turn around, folks. And he was right, man. People love their basics. Yeah. I don't think
02:10you have to go for younger. I mean, every time I go there, I see families there. So I think
02:15kids are
02:15brought up going to Cracker Barrel. I mean, you don't need to go out and target. And yet I've never
02:19been a lot of restaurants. There's not that much food on the plate. I think that's an American
02:26complaint. Cracker Barrel loads the boat. Yeah. Yeah. You got to get a real meal. Yeah. So I hear
02:32I'm just looking at the VO on YouTube here. I'm getting hungry. Yeah. Next do some non-foods.
02:38How about how about home builders for you? KB Homes. It's under pressure down 2.4 percent right now
02:44and down 14 percent so far this year. It's lowering its annual housing gross profit margin
02:50outlook. It says conditions in the housing industry continue to worsen. It also reduced
02:54its annual housing revenue guidance. This all, as we learned today, that mortgage rates are now at
03:00their highest level in two years, 7.12 percent. Yeah. I don't know how the young folks do it with
03:05this affordability issue, man. I mean, seven. I mean, that's kind of where I think my first mortgage
03:09way back in the day was probably nine or 10 percent. Exactly. But people have been used to the three
03:14and four percent. Yeah. Yeah.
