Streetbeat News

Dividends

FSRN

MGA

Magna International, Inc. (NYSE:MGA) shares dropped in premarket trading after Q1 results showed a miss on earnings expectations and included $316 million in charges related to Fisker Inc. (OTC:FSRN). Despite lower volumes and currency challenges, revenue exceeded forecasts, and sales grew 3% year over year. The company also adjusted its 2024 sales and net income outlook downwards. A dividend of $0.475 per share was declared.

Portfolio Pulse from Nabaparna Bhattacharya

May 03, 2024 | 12:48 pm

ET

SUN

Sunoco has finalized its acquisition of NuStar Energy, marking a significant expansion for the company. Following the completion of this deal, Sunoco announced a 4% increase in its quarterly distribution to shareholders, signaling confidence in the financial benefits of the acquisition.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:47 pm

AAPL

ARDX

SPT

Sprout Social's shares plummeted by 32% due to disappointing Q1 revenue and multiple analyst downgrades. Apple's stock rose by 8% following robust Q2 earnings, a dividend increase, and an additional $110 billion repurchase authorization. Ardelyx experienced a 31% surge in its shares after reporting better-than-expected Q1 financial results.

Portfolio Pulse from ryanfaloona@benzinga.com

May 03, 2024 | 12:42 pm

TKR

The Timken Company (NYSE:TKR) announced a 3% increase in its quarterly dividend to $0.34 per share, payable on May 28, 2024, to shareholders of record as of May 14, 2024. This marks the 11th consecutive year of dividend increases, reflecting the company's strong financial performance and commitment to growing dividends in line with earnings. Timken has maintained a quarterly dividend since its NYSE listing in 1922, reaching 408 consecutive quarters.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:31 pm

SBGI

TDS

VZ

Wall Street's most accurate analysts have provided updates on three high-dividend yielding stocks in the tech and telecom sectors: Sinclair, Inc. (SBGI), Verizon Communications Inc. (VZ), and Telephone and Data Systems, Inc. (TDS). These updates include changes in price targets and ratings, reflecting the analysts' views on the stocks' future performance. The updates come amid market turbulence, where dividend-yielding stocks become attractive for their potential to offer stable returns.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 12:19 pm

HSY

Hershey Company (NYSE:HSY) shares are trading higher after reporting better-than-expected first-quarter FY24 earnings, with significant growth in sales, gross margin, and operating income. The company also declared quarterly dividends and reaffirmed its FY24 outlook.

Portfolio Pulse from Shivani Kumaresan

May 03, 2024 | 12:04 pm

CQP

Cheniere Energy Partners has reaffirmed its 2024 distribution guidance, projecting distributions of $3.15 to $3.35 per common unit, with a base distribution of $3.10 per common unit.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:51 am

AAPL

QQQ

SPY

Wall Street anticipates continued upward momentum, buoyed by Apple's positive earnings report, which included a significant buyback program and a dividend hike. However, upcoming non-farm payrolls data and wage inflation measures may influence market sentiment. Premarket trading saw gains in SPDR S&P 500 ETF Trust and Invesco QQQ ETF. Other stocks showed varied movements based on their earnings reports. The market's direction may hinge on inflation trends and the Federal Reserve's interest rate decisions.

Portfolio Pulse from Shanthi Rexaline

May 03, 2024 | 11:03 am

AAPL

Apple's stock is on the rise following the announcement of robust Q2 earnings, an increase in its dividend, and the authorization of an additional $110 billion for stock repurchases.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:55 am

ESNT

Essent Group Ltd. has announced a quarterly cash dividend of $0.28 per common share, which will be payable on June 10 to shareholders who are on record as of May 31.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:43 am