Amd, starbucks, pinterest out with results in the last hour shares are all on the move here. Weve got the ateam of reporters ready to dive into the numbers for us were digging into amd, the Conference Call is just kicking off. Amd shares are higher well be looking for more clarity on two factors progress made on amds a. I. Chip todays report shows us that Data Center Revenue was mostly in line, client business, which includes pc processors, sales actually came in higher than estimated. Its a very similar narrative to what we saw from intell last week heading into q3, the Company Expects data center and client to each grow double digit percentages. But they didnt provide any numbers in the report. And thats going to offset some gaming weakness. And this comes even though i. T. Budgets have been prioritizing a. I. Chips over traditional servers. Overall, thats good news for the stock, contributing to the bump that were seeing right now, as well as the earnings beat lastly, a. I. Will of course be a theme on the call given amds a. I. Chip, which comes out in q4, but keep in mind, it is only testing next quarter to three. Its coming out in q4, so, we shouldnt expect revenue until early next year. Mel . Kristina, when they say that their customers have seven times the number of engagements for a. I. , what exactly does engagement mean . Engagement means it doesnt necessarily translate to orders. That was in the report, and thats an excellent question, but it does not necessarily translate. They have hard orders from amazon, as well as microsoft for that new a. I. Chip, and theyve said that theyve engaged with a bunch of other companies, but that still hasnt translated into sales just yet. All right, kristina, thank you. Keep us posted on amd. Huh. Engagement doesnt necessarily translate into revenue interesting. I thought you were going to say wedding. Thats true you have experience with that no. Hesitated yeah, i dont amd so this, a year ago, 92 stock. Stay with me trading 123 now revenue was down 18 year over year revenue down 18 margins were 30 a year ago, operating margins, by the way, 19. 9 this quarter everything christina said is fine the quarter was fine unremarkable by their standards. The stock action is extraordinary, again i mean, goes to show, a. I. Is everything right now, because on if you would just look at this at its core, i dont know why the stock is significantly higher, given the run that the stock has had. Its fine, but again, valuations come into play, and look at where the stock was a year ago, look at it now and look at the year over year comp. Interesting. Based on what they said about data center, we would see a little bit of impact on intel, but we havent so far. Yeah, and they opened down, right . So, at first these numbers werent impressive until theyki stuff, the pixie dust, we coined that on this desk. If you look at microsoft, google, and their spend, and what theyre targeting to be their spend in the second half of the year, thats part of whats taken the stock higher, and if you think where theyre going to be in terms of a. I. Server share, somewhere in the next few years, even cutting into nvidia this is where theyre getting pulled up by nvidia, whether they deserve it or not agree with guy on the margin here, and if you look at the sales and if you look at the multiple i will say that semiconductors overall as a group had an excellent july and came right back to this place on the chart where relative to the s p, they are challenging for the breakout, while the rest of the market gets there, too yeah. Dan . Interesting when you look at the revenue guidance, the midpoint is below what consensus was, and looking at q3 and q4, they expect to be up, 50 this quarter to 51 in q3, 52 and change in q4, so theres something built in there that theyre going to have higher margin products and again, i think maybe thats what theyre telling us, but were also saying, engagement, that doesnt exactly mean orders. So, i dont know listen, i would rather buy amd than i would nvidia, because i think in a few weeks when nvidia reports, theres a lot of risk. If we dont have the level of upside that they guided to or are able to guide to for the current period, then i think theres risk to that stock and amd has a more reasonable valuation, and i dont think theres a whole heck of a lot built into it right now. We know pcs are weak we know smartphones are weak we know lots of end markets are really weak right now, so there just doesnt seem to be aggressive guidance here at all, so, it just seems a bit more reasonable are you still short nvidia or no actually, i have a bearish position in the smh, and it is around nvidia. I think theres much more risk to the downside given that guidance karen i agree with everything youre saying. It is certainly not a this year, next year story. If you think about how they view the total addressable market, how guy dan igantic it is, for x few years, probably 25, 26, much bigger years. If you have to buy the pixie dust story, if you do that, you can get to this not being so demanding on an earnings multipleyears out. I dont like to wait at this bus stop at 41 or, you know, whatever times earnings where it is right now but im going to, so i have some amd, im not going to trade around it. And i have some nvidia, as well. Be interesting to hear what they say on the call. We know its not all about what they reported. Its about what they think is coming and what is the timing of the newest chip. Right right. Geared towards large language model training that will be key they say four q we dont know. But i think thats really where this is. This is where people can do whatever they want to their models, and after the blowout that nvidia gave and the confidence of the guide, this is this is where amd also gets the benefit i just think that the bottoming of the pc business is something that cyclicly look what it did for intel on some level and look what data center does. Lets move onto starbucks. Missing on revenues. The call is under way. Kate rogers has the breakdown for us hey, melissa. Earnings call just getting under way. Mixed Third Quarter for starbucks. A fivecent beat on adjusted eps. Comps were lower across the board. Up 10 globally, 24 internationally. Up 7 in the u. S. , thats a miss versus the up 8. 4 estimated by analysts in the u. S. , the company said it saw a 6 increase in average ticket, 1 increase in average transaction. Moving onto china, that is a key market for starbucks, samestore sales up 46 year on year, driven by a 48 increase in transactions, a 1 decrease in average ticket there last year, remember, covid lockdowns were a huge drag on china samestore sales, so, seeing a rebound there, even as analysts have warned that the recovery could take longer than expected starbucks reporting it now has 31 million starbucks rewards members. That is up 15 year on year. The stock is slightly lower by 1 its only up around 1. 5 , melissa, year to date. One of the weaker performers in the restaurant sector. Looking to hear if they make nil changes to guidance on the call. Thats something they reaffirmed last quarter and if you remember, the stock fell a bit after that news. Back to you. Kate, thank you kate rogers. Tim, you own this one. I do. And im waiting on more of it lower. Ive been trading this one around for the last six months after that q1 number, same thing we saw its a lot of the same thing i dont think that their Customer Base can really withstand the higher price levels over and over again operating margins are excellent. Labor costs are certainly something they have to consider. These are record revenues, so, they missed slightly, but again, record revenues for a company, its nice to see international increasing but north america is still bread and butter and those comps at 7 werent extraordinary. I dont think theyre going to get in an environment where they can raise prices i love the company, but im going to get it lower. Year on year, why that was in full lockdown, wasnt it so, the transactions increased 40 , 50 year on year and the average transaction price went down a percent i thought that was sort of weird. Its got to be a noisy thats noisy data. Especially when you consider how much those transactions were up. Yeah. North americas still the bread and butt ore, so, 7 comps, 8. 4 street so, thats pretty significant miss we talked about it last night, where maybe valuation is starting to be a concern and where do you want to get back in this stock and i think we decided, at least we talked about 92 being the level. That was the high, i think, august of last year. We sold off from there, so path to resistance should become support. I dont think 92 is unreasonable this is sort of the quandary that investors have with Consumer Staples proctor an gamble, they are losing volume, but they have the Pricing Power at this moment, but who knows what they have next quarter right its telling what chipotle said about, you know, fear that the customer will start paying Student Loans again and price hikes and maybe they hiked prices as much as they can, or its really starting to make a dent so, this is similar to that. Done a good job, you know, selling upside calls and waiting its a great company. It deserves a premium multiple this big, probably not look at the outyear, right . Next year, you know, 12 expected sales growth and trading at a peg at the end of growth of two. Its a 24 1 2 multiple or Something Like that. Whens the last time this stock has traded that cheap . And its funny that were sitting here in what feels like a raging bull market its not confirmed its here to stay or not. We talked about it last night, nike, starbucks, a few other names, consumer discretionaries just sitting it out. I dont get it i can look around the market and i see plenty of stocks that traded ridiculous valuations based on really silly assumptions and Companies Like nike and starbucks have demonstrated to us, as long as weve been doing the show, or as long as weve been in the business, they execute decently in difficult environments. I dont note why they are sitting out. Doesnt make any sense to me and this doesnt seem like an outrageous valuation right here. Theyre sitting out because they went from 70 bucks to 115 bucks from march through, you know, kind of march. And i think thats a lot to do with it. I also think both nike and starbucks are ill strayive of really where the pent up demand was. The most iconic brands that people are reaching for coming out of covid people are talking in as much as they can different product groups, obviously. But i think thats what you get to im happy to own nike and starbucks lower. I think im going to, and i dont think theres anything that should worry you as an investor here, but this is not going to get away from you on the upside. Coming up, another pair of postbell earnings breaking down the numbers from social media to the slot machines. Plus, anticipating tomorrows treasury sales today. The impact tbill and bond issuance could have on inflation. 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Release works with your body, not against it, so you can put dieting behind you and go live your life. Head to golo. Com now to join the over 2 Million People who have found the right way to lose weight and get healthier with golo. Welcome back to fast money. Weve got an earnings alert on pinterest. Shares dipping despite top and bottom line beats. The Conference Call is under way. Julia boorstin has been listening in whats the latest . Melissa, that stock bouncing around first shares were lower, then higher, now shares are down just fra fractionally, after pinterest beat across the board with a meaningful beat when it came to earnings but worldwide monthly active users were pretty much in line with expectations. Just about a million and a half, ahead of the number analysts were looking for guidance for the Third QuarterRevenue Growth also pretty much in line. Guidance in the high Single Digits thats in line with the nearly 8 growth that analysts anticipated. Pi pinterests ceo said after reducing expenses in the first quarter, in the Second Quarter, they identified further cost efficiencies, leading to operating expenses that were lower than what they guided to he stressed on the call the longterm potential of the partnership that they made with amazon, saying that they have many strong synergies and pleased with the pace of implementation so far. He noted the broader Advertising Market is seeing what he called some signs of stabilization and recovery so, he did note that theres still a lot of choppiness. The companys cfo said that it continues to gain good traction with advertisers and verticals such as travel, autos, and Financial Services those are relatively new areas for them both ready and the companys cfo also stressing the companys focus on Operational Efficiency throughout the call. Melissa . Operational efficiency is great, julia, but its tapping into that, you know, highly focused user of pinterest who probably has a desire, intent, to buy, to actually buy, and so, when ready says hes happy with the pace of implementation, that almost Means Nothing to me, i mean, what does that mean . What hes saying that the majority of people that come to pinterest are looking to buy something. And he was throwing out the stat, half of the people who come to the platform want to buy something. And so, what theyre doing with this Amazon Partnership and also the ability for brands, whatever the brand is, to share a shopable pin, is closing that loop then you come here to want to buy something, make it so easy for you to actually buy something that is a more efficient platform for adve advertisers. And they say this is a long process, but theyre seeing action from consumers who are saving more of the pins they can click through to buy so, theyre saying theyre seeing progress. I have to think that one of the reasons why the stock first moved lower and then, you know, so sort of been bouncing around, that the user growth was in line was expectations there was some hope that pinterest would have a blowout quarter, and i think this was a beat, but not a blowout. Julia, thank you. I will go to the man who has yes, i do on this desk, thats me. Thats you. Okay, this is why the stock youre proud of that. Extraordinarily proud it wasnt asking. It was a statement this video, by the way, was created, like, ten years ago, but the pace hasnt changed. Its the same. So, oddly enough the Third Quarter revenue guidance, so, they said basically high Single Digits against the street was looking for 9 pn. 6 people are saying thats not good enough to offset what was a good quarter margins were very good, and so i think the stock actually if theyre sandbagging, which they may be, i think the stock should be higher than this. Funny, when you think about digital ad spend and the opportunities of ecommerce, theyre doing 3 billion in revenue. Its got 80 gross margin, its growing at maybe double digits, that sort of thing, and so, unless you can really ramp users and really find new levers there, this is just one of those really small players the same way feel like every other quarter were talking about snap down 20 or pinterest down 20 the fact that its unchanged right now, i think you took some of the kind of animal spirits guy out of this name on that last print when it plunged down 20 and we found a bit of an e quill lib lee yam. If you had, like, a power user pinterest, a very popular like guy . Im struggling to tind somebody right are you trading up on that . A orbottle of hawaiian tropi sun tan oil, you get a piece of it sure you do and the company gets a sale or you could buy meta right which is 40, i dont know, 45 times the size, trades at a lower multiple trades at 140 so, thats where i am there and google all right, lets get to another earnings alert this one on caesars entertainment. The casino stock extending tension losses despite topping revenue estimates. The companys ceo affirming that demand continues in vegas. Contessa brewer . The ceo on the call right now. And first off, he addressed the vegas results, down in the Second Quarter he blamed a tough comp against an alltime recordsetting quarter last year. And bad luck for the house see sarps says that bookings for the second half of the year are on pace to deliver a record annual profit in gaming in this particular segment and the vegas strip. And he says he thinks that caesars will get a 5 lift from f1, just on rooms andfood and beverage in novembe