McCormick, Google, BBBY
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 29 September 2020
⏱️ 17 minutes
🧾️ Download transcript
Summary
McCormick posts a strong 3rd-quarter report and announces a 2-for-1 stock split. Google starts getting serious about charging a 30% fee within its Google Play platform. Bed Bath & Beyond partners with Instacart and Shipt on same-day delivery. Jason Moser analyzes those stories and discusses Brian Cornell’s leadership at Target.
Transcript
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| 0:00.0 | It's Tuesday, September 29th. |
| 0:04.0 | Welcome to Mark O'Leary. I'm Chris Hill. |
| 0:06.0 | With me today, the one-in-only, Jason Moser. |
| 0:08.0 | Thanks for being here. |
| 0:09.0 | Hey, hey! |
| 0:10.0 | We've got another retailer gearing up for the holidays. We have another tech giant. |
| 0:17.0 | I'm not sure how to categorize this story. We'll get to it soon enough. |
| 0:21.0 | We're going to start with the spice maker though because shares of McCormack are actually down a little bit despite the fact that McCormick's third quarter profits in revenue came in higher than expected. They also announced a two for one stock split. I want to get to the stock split in a minute |
| 0:34.7 | I'm assuming the slight drop 1 2% that we're seeing in the stock is the guidance |
| 0:41.0 | because McCormick if I understand this correctly they resumed |
| 0:44.2 | their fiscal year guidance and it was a little bit lower than Wall Street was |
| 0:49.3 | expecting. |
| 0:50.3 | Maybe I mean it based on the numbers I had seen, that guidance they resumed was right in the range that had been, |
| 0:57.0 | the average expectations that had been on the street for some time now. |
| 1:00.0 | But yeah, they had pulled guidance a little while back and felt |
| 1:03.2 | comfortable in getting back into it this quarter you know I think it's probably a |
| 1:08.0 | couple of things I mean let's remember this is never a cheap looking stock relative to |
| 1:11.6 | its growth rates. |
| 1:12.8 | And so right now, I mean, it's trading at |
| 1:14.8 | at around 33, 34 times full year estimates. |
| 1:17.4 | But you're talking about a company that's, |
| 1:18.9 | yeah, they're putting up five, six, seven percent |
... |
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