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MarketFoolery

Big Shoe > Big Blue

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 21 October 2021

⏱️ 14 minutes

🧾️ Download transcript

Summary

Shares of Crocs pop nearly 10% after a strong 3rd quarter and raised full-year guidance. IBM falls after disappointing results from its two largest divisions. Ron Gross analyzes those stories, discusses Facebook’s potential name change, and shares where Kit Kats and Reese’s Peanut Butter Brittle Cups fall in the pantheon of Halloween candy.

Transcript

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0:00.0

It's Thursday October 21st, welcome to Marketfoolery, I'm Chris Hill with me today, the one

0:07.1

I know, like Ron Gross.

0:08.1

Thanks for being here.

0:09.1

Wow, that's quite an intro, I hope I live up to it, great to be here, always.

0:13.6

I hope you live up, otherwise I'm going to go get the other Ron Gross.

0:17.0

I like that.

0:19.0

There's a lot going on today, earning season starting to heat up, we're going to hit

0:22.1

Tesla and Motley full money tomorrow, so tune in for that, but today we've got big blue,

0:27.3

we're going to start with big shoe.

0:29.3

Third quarter profits for crocs, much higher than expected, revenue beat as well, they raised

0:35.7

fiscal year guidance, shares of crocs up more than 8% today.

0:40.7

Forget about this, and they are killing out today.

0:44.4

How about over the last five years, up 1800%, that's a shoe company for you, man, that's

0:52.6

that is some unbelievable performance, and this quarter was strong as well.

0:58.6

They beat expectation, demands remain strong.

1:01.4

Now again, as we always talk with retailers, they're anniversary ring, a tough Q3 from last

1:06.1

year, results are solid, but they look artificially strong because of last year, so take that

1:11.5

into account when I go through some of the metrics.

1:14.3

Not surprisingly, we're hearing this across the board, business was impacted by Vietnamese

1:18.2

factory closures, widespread disruption in the global supply chain.

1:23.3

Now the CEO said they are, quote, managing through the supply chain disruptions to mitigate

1:27.8

the impact on our business.

...

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