AMD Chipped, Under the $HOOD, PayPal Jumps 8/3/22

Carl Quintanilla and Jim Cramer began the hour by breaking down a slew of corporate earnings, including AMD. The chip giant beat on earnings, but the stock was under pressure after it issued a weak Q3 revenue outlook. Another company they hit was Starbucks, which topped Wall Street estimates, fueled by U.S. demand for cold drinks. The anchors then shifted to PayPal for the Mad Dash segment, as Elliott Management confirmed it has a $2 billion holding in the financial services company. Also in the mix: Robinhood announced it is cutting about 23% of its workforce.