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Starbucks Corporation (NASDAQ:SBUX) is one of the stocks Jim Cramer spoke about recently. Cramer mentioned his discussion with the company CEO, as he commented:

“Starbucks, now under Brian Niccol, we’re slightly more than a year into his tenure, and after some fits and starts, this morning on Squawk on the Street, he told me that he’s finally ahead of plan… How’s Brian doing it? He’s doing it the Niccol way, taking care of service first. He’s got the scale. He’s got the biggest chain. He’s got the biggest drive-through, the biggest delivery. He just needed to staff all these businesses correctly… Throughput, he explained to me once, is the name of the game. You get that right, it can all come together… I wanted to come out here with something conclusive, conclusively positive about Starbucks. I simply didn’t have the confidence to truly stick my neck out… But now, with the Chinese business about to get a big partner and with cadence improving at the stores, I think it’s all coming together. Few believe the environment’s gotten tougher. Many restaurant chains have disappointed. So the turn of Starbucks is being overlooked. I’m betting that won’t last for long… What are you waiting for? It’s time to buy the stock of Starbucks.”

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Starbucks Corporation (NASDAQ:SBUX) sells coffee, tea, and food products. The company operates through brands, including Starbucks Coffee, Teavana, and Seattle’s Best Coffee.

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Disclosure: None. This article is originally published at Insider Monkey.

MUMBAI, Nov 3(Reuters) – The Indian rupee faces renewed pressure on Monday following a fresh rally in the dollar, though expectations of central bank support are seen keeping the currency from slipping to a record low at open.

The one-month non-deliverable forward (NDF) indicated the rupee will open in the 88.74–88.78 range to the dollar, compared with Friday’s level of 88.7650, just shy of the lifetime low of 88.80 hit in mid-October.

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The rupee has slipped back to its weakest levels after a brief respite engineered by heavy central bank intervention about two weeks ago. The intervention had helped the currency rally to near the 87.60 level.

Bankers said persistent importer hedging, NDF expiries and renewed strength in the dollar have all contributed to the renewed pressure on the local unit.

The Reserve Bank of India has appeared active in the latest phase of the rupee’s decline, with traders citing its presence through state-run banks.

However, bankers said the central bank does not seem to be defending any specific level.

“While they haven’t defended any particular level recently, I would expect the RBI to step in around 88.80,” a trader at a private bank said.

“That’s where they acted last time, and staying away now could risk a large move higher (on dollar/rupee).”

FED BOOST TO DOLLAR

The dollar index firmed to a near three-month high on Monday, as expectations of a December rate cut by the Federal Reserve faded.

Market pricing now implies roughly a two-in-three chance of a cut next month, down from nearly 90% before Powell’s remarks.

KEY INDICATORS:

** One-month non-deliverable rupee forward at 88.84/88.90; onshore one-month forward premium at 13.25 paise

** Dollar index at 99.74

** Brent crude futures up 0.5% at $65.1 per barrel

** Ten-year U.S. note yield at 4.08%

** As per NSDL data, foreign investors sold a net $288.1 million worth of Indian shares on Oct 30

** NSDL data shows foreign investors sold a net $86 million worth of Indian bonds on Oct. 30

Our Standards: The Thomson Reuters Trust Principles., opens new tab