Streetbeat News

Dividends

ABBV

AMRS

CRBP

CRDL

HRMY

JAZZ

NTEC

PFE

Roy Bingham, CEO of BDSA, projects the U.S. cannabis market to reach nearly $46 billion by 2028, driven by adult-use and medical market expansion. The DEA's reclassification of cannabis to Schedule III is expected to spur medical research and investment, with significant growth anticipated in pharmaceutical applications and medical cannabis products. This rescheduling may reduce financial pressures on cannabis businesses and attract investment from healthcare and pharmaceutical companies. Despite federal restrictions, the shift is seen as an opportunity for healthcare and pharmaceutical industries to invest in cannabinoid research, potentially impacting medication use and fostering innovation in the sector.

Portfolio Pulse from Nicolás Jose Rodriguez

May 14, 2024 | 5:32 pm

IGT

International Game Technology (NYSE:IGT) shares rose after reporting Q1 earnings and sales that beat analyst expectations. Earnings per share were 46 cents, surpassing the consensus of 23 cents, with sales of $1.067 billion exceeding forecasts of $1.029 billion. The company saw a 1% revenue increase year-over-year, driven by Global Lottery growth, despite a decline in Gaming & Digital sales. IGT also reported a foreign exchange gain and a steady operating income, with a slight increase in net interest expense. The board declared a quarterly dividend, and the company provided an optimistic revenue outlook for Q2 and FY24.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 4:05 pm

JACK

Jack In The Box Inc (NASDAQ:JACK) reported better-than-expected Q2 FY24 adjusted EPS but saw a decline in sales and same-store sales. The company reduced its FY24 EPS and adjusted EBITDA outlook, despite a positive reaction in its stock price, rising 9.25%.

Portfolio Pulse from Shivani Kumaresan

May 14, 2024 | 3:07 pm

DOLE

Dole plc (NYSE:DOLE) is set to release its Q3 earnings on May 15, with expected earnings of 31 cents per share, down from 34 cents a year ago, and projected revenue of $2.12 billion, up from $1.99 billion. The company offers a 2.62% annual dividend yield. To earn $500 monthly from dividends, an investment of approximately $229,125 is needed.

Portfolio Pulse from Avi Kapoor

May 14, 2024 | 12:54 pm

BABA

ONLN

PGJ

Alibaba Group Holding Limited (NYSE:BABA) reported fiscal Q4 2023 results with a 7% revenue growth to $30.73 billion, surpassing estimates but saw a significant 86% drop in net income to $453 million due to investment losses. Adjusted earnings per ADS missed estimates by $0.01. The company announced a $4.0 billion dividend for FY 2024 and repurchased 65 million ADS worth $4.8 billion. Alibaba is preparing for a primary listing in Hong Kong by the end of August 2024. BABA stock dipped over 4% in premarket trading. Investors can also gain exposure through the Invesco Golden Dragon China ETF (NASDAQ:PGJ) and the ProShares Online Retail ETF (NYSE:ONLN).

Portfolio Pulse from Anusuya Lahiri

May 14, 2024 | 12:35 pm

ERIC

IBM

MEI

Wall Street's top analysts recommend holding three tech stocks with high-dividend yields: Methode Electronics, Inc. (MEI), Telefonaktiebolaget LM Ericsson (ERIC), and International Business Machines Corporation (IBM). These stocks are highlighted for their strong dividend yields amidst market uncertainty, with recent corporate developments and analyst ratings adjustments influencing their outlook.

Portfolio Pulse from Avi Kapoor

May 14, 2024 | 12:30 pm

BABA

Alibaba's board has approved a two-part dividend plan, consisting of an annual dividend of $1 per American Depositary Share (ADS) and a one-time cash dividend of $0.66 per ADS.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 12:26 pm

RNR

RenaissanceRe has renewed its share repurchase program, increasing the total current authorization to $500M, including amounts from prior authorizations. Additionally, a quarterly dividend of $0.39 per common share has been announced, payable on June 28, 2024, to shareholders of record as of June 14, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:34 pm

ABAT

BHP

CLF

NUE

STLD

American Battery Technology commercializes its recycling tech in Reno, Nevada, exceeding capacity expectations with support from U.S. grants and tax credits. BHP's $42B bid for Anglo American is rejected, aiming to increase copper exposure. Cleveland-Cliffs supports tariffs on Japanese tin products, emphasizing U.S. steel industry protection. Steel Dynamics announces a Q2 cash dividend, and Nucor's EVP retires, succeeded by Randy J. Spicer.

Portfolio Pulse from austin@walkonholdings.com

May 13, 2024 | 8:32 pm

FGB

First Trust Specialty Finance and Financial Opportunities Fund (FGB) has announced an increase in its quarterly distribution to $0.10 per share from $0.0825, payable on May 31, 2024. This represents a 21.21% increase from the previous distribution, with the distribution rate now at 8.95% based on the NAV of $4.47 and 10.31% based on the closing market price of $3.88 as of May 10, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:24 pm