Streetbeat News

Dividends

INTC

Intel Corporation (NASDAQ: INTC) shares are trading lower due to a broader tech sector sell-off amid U.S. economic concerns and geopolitical tensions. Intel's stock has dropped over 30% following a disappointing second-quarter earnings report, a $10 billion cost-reduction plan, and the suspension of its dividend. Analysts have mixed ratings on Intel, with a 12-month price target averaging $27.71.

Portfolio Pulse from Erica Kollmann

August 05, 2024 | 5:17 pm

FORM

JBL

RMBS

The article highlights three oversold tech stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are FormFactor Inc (FORM), Rambus Inc (RMBS), and Jabil Inc (JBL).

Portfolio Pulse from Avi Kapoor

August 05, 2024 | 3:53 pm

ASNFF

COBJF

Comba Telecom reported a loss in the first half of the year due to a slowdown in 5G network spending by China's three main wireless carriers. The company's cash position fell by 20%, and it canceled its final dividend last year. Rival AsiaInfo also reported its first-ever loss since its Hong Kong listing in 2018. China's telecoms spending cuts are expected to continue, impacting companies like Comba and AsiaInfo.

Portfolio Pulse from The Bamboo Works

August 05, 2024 | 2:43 pm

CSX

CVX

CSX Corporation (NASDAQ:CSX) is set to release its Q2 earnings after the closing bell on Monday, Aug. 5. Analysts expect earnings of 48 cents per share and revenue of $3.7 billion. The board approved a 12 cents per share quarterly dividend. Several analysts have recently revised their ratings and price targets for CSX.

Portfolio Pulse from Avi Kapoor

August 05, 2024 | 2:23 pm

SAH

Sonic Automotive (NYSE:SAH) reported a Q2 revenue decline of 5.5% YoY to $3.453 billion, missing estimates. Despite this, the company beat EPS expectations with $1.47 per share. The Franchised Dealerships segment saw declines in same-store revenues and gross profit, while the EchoPark segment showed significant growth in gross profit and adjusted EBITDA. Operational disruptions due to a CDK outage negatively impacted GAAP income by $30 million. Sonic approved a quarterly dividend of $0.30 per share and maintained positive guidance for EchoPark's adjusted EBITDA for the rest of 2024. SAH shares traded lower by 2.31% premarket.

Portfolio Pulse from Akanksha Bakshi

August 05, 2024 | 1:19 pm

CAT

Caterpillar Inc. (NYSE:CAT) is set to release its Q2 earnings on Aug. 6, with analysts expecting a slight decrease in EPS and revenue compared to last year. Raymond James initiated coverage with a Market Perform rating. The article also discusses how investors can earn monthly income from Caterpillar's dividends.

Portfolio Pulse from Avi Kapoor

August 05, 2024 | 12:49 pm

AAPL

BAC

BRK

Ross Gerber criticized Warren Buffett for selling Apple shares before the AI revolution, suggesting it was a mistake for long-term investors. Berkshire Hathaway significantly reduced its Apple stake, leading to a loss of dividend income. Elon Musk and Bill Gross also hinted at a bearish market outlook, with Buffett's firm selling other significant holdings like Bank of America shares.

Portfolio Pulse from Benzinga Neuro

August 05, 2024 | 5:00 am

AAPL

BRK

Berkshire Hathaway, led by Warren Buffett, significantly reduced its stake in Apple by nearly half, as revealed in its Q2 10-Q report. The reduction is speculated to be due to concerns over Apple's performance in China. This move results in a substantial decrease in dividend income for Berkshire.

Portfolio Pulse from Shanthi Rexaline

August 03, 2024 | 5:16 pm

INTC

Intel Corp (NASDAQ: INTC) announced significant restructuring and reported disappointing quarterly earnings, missing analyst estimates. The company plans a $10 billion cost-reduction, including a 15% headcount reduction by the end of 2024, and will suspend its dividend starting Q4 2024. Analysts have downgraded the stock and revised price targets downward, citing competitive, financial, and strategic challenges.

Portfolio Pulse from Surbhi Jain

August 02, 2024 | 7:14 pm

INTC

Intel Corporation (NASDAQ: INTC) shares are plummeting after the company reported worse-than-expected Q2 results, including a 0.9% decrease in sales and earnings of 2 cents per share. The company also suspended its quarterly dividend and announced a $10 billion cost-reduction plan, which includes a headcount reduction of over 15%. Analysts have downgraded the stock and lowered price targets. Intel's stock has lost 39.74% year-to-date and is currently oversold with an RSI of 18.35.

Portfolio Pulse from Erica Kollmann

August 02, 2024 | 4:42 pm