Streetbeat News

Dividends

VSCO

Victoria's Secret & Co (NYSE:VSCO) shares dropped following mixed Q4 results, with revenue missing and earnings beating estimates. JPMorgan downgraded the stock, and other analysts lowered price targets. The company reported operating cash flow of $589 million, repaid $410 million of its credit facility, and ended with $270 million in cash. A new $250 million share repurchase program was announced. Q1 net sales are expected to decrease mid-single digits, with adjusted operating income between $10 million and $35 million. Full-year 2024 revenue is projected at $6 billion, below estimates of $6.28 billion.

Portfolio Pulse from Adam Eckert

March 07, 2024 | 2:18 pm

AVGO

Broadcom Inc. (NASDAQ:AVGO) is set to release its Q1 earnings with expected earnings of $10.29 per share and projected revenue of $11.72 billion. The company recently unveiled the WatchTower Platform, an open observability solution. Broadcom's dividend yield stands at 1.56%, with a quarterly dividend of $5.25 per share. To earn a monthly dividend income of $500, an investor would need to own approximately 286 shares, valued around $386,100. The article also explains how dividend yield changes with stock price and dividend payment adjustments. AVGO shares rose 0.5% to close at $1,350.00 recently.

Portfolio Pulse from Avi Kapoor

March 07, 2024 | 2:14 pm

SGA

Saga Communications has announced a variable dividend of $0.60 per share, payable on April 5, 2024. The total payment will amount to approximately $3.8 million, funded by the company's cash reserves.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 2:06 pm

HAS

LEG

T

Wall Street's most accurate analysts have provided their views on three high-dividend yielding consumer stocks: Leggett & Platt, AT&T, and Hasbro. Leggett & Platt and Hasbro reported worse-than-expected financial results, leading to price target adjustments. AT&T, however, received positive price target revisions and announced a billing credit for customers affected by a network outage.

Portfolio Pulse from Avi Kapoor

March 07, 2024 | 12:59 pm

AXP

The board of American Express has approved a 17% increase in its quarterly dividend, raising it to $0.70 per share. This decision reflects the company's confidence in its financial health and commitment to returning value to its shareholders.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:55 pm

MLR

Miller Industries' board has approved an increase in the company's dividend from $0.18 to $0.19.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:46 pm

VSCO

Victoria's Secret & Co (NYSE:VSCO) reported Q4 financial results with revenue of $2.08 billion missing estimates by $0.01 billion, but EPS of $2.58 beat estimates by $0.11. The company generated $589 million in operating cash flow, paid down $410 million on its credit facility, and ended with $270 million in cash. A new $250 million share repurchase program was authorized. FY2023 saw 3.7 million shares repurchased for $125 million. CEO Martin Waters emphasized commitment to strategic priorities despite a downturn in the intimates market. Q1 net sales are expected to decrease mid-single digit range, with adjusted operating income between $10 million and $35 million. Full-year 2024 revenue is projected at $6 billion, below estimates of $6.28 billion. Shares fell 22.2% after hours to $19.95.

Portfolio Pulse from Adam Eckert

March 06, 2024 | 9:41 pm

GD

General Dynamics (NYSE:GD) has increased its quarterly dividend from $1.32 to $1.42 per share, marking the 27th consecutive annual increase. The new dividend is payable on May 10, 2024, to shareholders of record as of April 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:47 pm

APM

BIAF

CPB

EVC

MEDS

NEPT

RVSN

Nasdaq gained 100 points as U.S. stocks traded higher, with Campbell Soup Company (NYSE:CPB) reporting better-than-expected Q2 earnings. Information technology shares led gains, while consumer discretionary shares fell. Aptorum Group (NASDAQ:APM), TRxADE HEALTH (NASDAQ:MEDS), and Rail Vision Ltd. (NASDAQ:RVSN) saw significant stock increases. Conversely, Entravision Communications (NYSE:EVC), Neptune Wellness Solutions (NASDAQ:NEPT), and bioAffinity Technologies (NASDAQ:BIAF) experienced substantial declines.

Portfolio Pulse from Avi Kapoor

March 06, 2024 | 7:35 pm

CRM

Salesforce, Inc. (NYSE:CRM) shares are up today after the company introduced Einstein 1 Studio, a set of tools for customizing the Einstein Copilot AI assistant. Over the past year, CRM shares have gained over 65%, outperforming the S&P 500's 26% return. The new Einstein 1 Studio includes Copilot Builder, Prompt Builder, and Model Builder, aimed at democratizing AI app development. Salesforce also announced a cash dividend of $0.40 per share, payable on April 11, 2024.

Portfolio Pulse from Nabaparna Bhattacharya

March 06, 2024 | 7:03 pm