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Although McDonald's Corporation (NYSE: MCD) came out with worse than expected first quarter earnings earlier on Wednesday.
CNBC’s Jim Cramer was seen weighing in on McDonald’s results and praising the company’s CEO.
Giving Hope
“This was not a bad quarter,” Cramer said. “Honestly, we could go back and we could look line by line and if we look at the big picture. Don’t look -- the forest not the trees, they made the revenues. I was looking for 2.6 percent drop by the way in comps; they came in at 2.3, 2.3 percent drop.”
He continued, “They gave you hope, big early May meeting, quoted Ray Kroc. You haven’t heard Ray Kroc’s name in a long time. Talking about taking some bold and thoughtful action. I have been speaking with some franchisees -- this man is winning them over.”
Turnaround
Cramer was all praise for McDonald’s CEO, saying, “Well, I have got to tell you, I think that [Steve] Easterbrook is giving you hope and in the meantime the dividend is giving you safety.”
“You talked, right at the top about the idea of giving the money. U.S. government what you get? Giving the money to McDonald’s, you get a little better and I think there's a lot of hope there and I think that it’s not misplaced. I am betting that Easterbrook can turn it around,” Cramer concluded.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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