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Dividends

AAPL

QQQ

SPY

Apple, Inc. (AAPL) reported Q2 results surpassing expectations with a $90.75B revenue and announced a $110B buyback program. Despite a year-over-year revenue decline, Services and Mac sales exceeded forecasts. Apple's EPS fell from the previous year but set a new March quarter record. The company declared a quarterly dividend and expressed confidence in future growth, hinting at upcoming product announcements. AAPL shares rose 3.5% post-earnings, contrasting with its year-to-date performance.

Portfolio Pulse from Shanthi Rexaline

May 02, 2024 | 8:45 pm

AMSYF

CTGO

HCC

MTRN

Warrior Met Coal reported a production surge and strong Q1 results, while Materion updated its earnings forecast amidst a sales decline. Contango ORE is set to acquire HighGold Mining, offering a significant premium to HighGold shareholders. ArcelorMittal showcased a recovery in Q1 with increased steel shipments and EBITDA.

Portfolio Pulse from austin@walkonholdings.com

May 02, 2024 | 8:40 pm

AAPL

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

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:32 pm

AAPL

Apple's board has authorized an additional $110 billion for share repurchases and has increased its dividend by 4% to $0.25.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:31 pm

OGN

PSCH

XPH

Organon & Co (NYSE:OGN) reported a first-quarter revenue of $1.622 billion, a 5% increase year-over-year, surpassing the consensus of $1.563 billion. The growth was led by an 11% increase in Women's Health revenue, notably from Nexplanon, and a 46% surge in Biosimilar revenue, driven by Ontruzant and Renflexis. Despite a flat performance in Established Brands, the company beat adjusted EPS estimates with $1.22 against a consensus of $0.93. However, adjusted gross margin and EBITDA margin saw slight declines. Organon declared a quarterly dividend of $0.28 per share and reaffirmed its FY24 revenue guidance of $6.2 billion to $6.5 billion. OGN shares rose 2.18% to $19.24. Exposure to Organon's stock can also be gained through SPDR S&P Pharmaceuticals ETF (NYSE:XPH) and Invesco S&P SmallCap Health Care ETF (NASDAQ:PSCH).

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 5:58 pm

Parker-Hannifin Corp (NYSE:PH) reported a slight increase in third-quarter fiscal 2024 sales to $5.07 billion, surpassing consensus estimates. Adjusted EPS rose to $6.51, beating expectations. The company saw mixed results in orders across its segments but experienced significant growth in the Aerospace Systems Segment. Operating cash flow and margins improved, leading to an upward revision of its fiscal 2024 outlook, including a raised adjusted EPS forecast and sales growth. Despite these positive results, PH shares dropped by 2.77%.

Portfolio Pulse from Akanksha Bakshi

May 02, 2024 | 5:06 pm

HWM

ITA

MISL

Howmet Aerospace Inc. (NYSE:HWM) shares surged after reporting Q1 FY24 financial results exceeding expectations with a 14% Y/Y revenue increase to $1.82 billion and adjusted EPS of $0.57, surpassing the consensus. The company also raised its FY24 outlook, citing robust demand for air travel and a favorable demand outlook despite lower 737 MAX volumes. Howmet repurchased $150 million of common stock and plans to increase its quarterly dividend. Exposure to HWM can also be gained through IShares U.S. Aerospace & Defense ETF (BATS:ITA) and First Trust Indxx Aerospace & Defense ETF (NYSE:MISL).

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 4:34 pm

COP

IEO

XLE

ConocoPhillips (NYSE:COP) reported Q1 FY24 earnings with revenue of $14.476 billion and adjusted EPS of $2.03, both missing consensus estimates of $15.047 billion and $2.04, respectively. Production increased to 1,902 MBOED, up 110 MBOED Y/Y. The average realized price for oil declined by 7% Y/Y to $56.60 per BOE. The company declared a quarterly dividend of $0.58 per share and a VROC of $0.20 per share. ConocoPhillips expects Q2 production of 1.91 to 1.95 million BOED. Shares fell 1.92% to $122.95.

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 4:22 pm

RLI

RLI Corp. (NYSE:RLI) has increased its quarterly dividend from $0.27 to $0.29 per share, marking the 49th consecutive year of dividend increases. The new dividend is payable on June 20, 2024, to shareholders of record as of May 31, 2024. The dividend yield based on the new annual rate and the recent closing price is 0.81%.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:04 pm

PBI

Pitney Bowes Inc. (NYSE:PBI) shares surged over 24% after reporting Q1 results that exceeded analyst expectations. The company posted a narrower loss per share of $(0.01) compared to the expected $(0.04) and revenues of $830.509 million against forecasts of $796.995 million. Despite a net loss of $(3) million, adjusted EBIT rose 71% year over year to $56 million, attributed to cost reduction from the 2023 restructuring plan. Shipping-related revenue increased by 8%, while mailing-related revenue declined by 4%. The company declared a quarterly dividend of $0.05 per share and reiterated its FY24 outlook for flat to low-single-digit revenue decline and stable EBIT margins.

Portfolio Pulse from Nabaparna Bhattacharya

May 02, 2024 | 3:43 pm