Streetbeat News

Dividends

SBUX

Starbucks Corporation (NASDAQ:SBUX) is set to release its Q2 FY2024 earnings on April 30, 2024, with analysts forecasting an EPS of 79 cents, up from 74 cents the previous year, and revenue of $9.13 billion. The company's Board approved a quarterly dividend of 57 cents per share. Shares slightly rose by 0.1% to $88.33 recently. Analysts from Wedbush, Guggenheim, Citigroup, Stifel, and Wells Fargo have provided varied ratings and price targets for Starbucks, reflecting cautious optimism.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 2:25 pm

MMM

SOLV

3M Company (NYSE:MMM) shares rose after reporting better-than-expected Q1 2024 results, with slight sales decline but higher adjusted EPS and operating margin. The company spun off its healthcare business into Solventum Corporation (NYSE:SOLV), retaining a 19.9% stake. 3M plans to monetize this stake within five years and returned $835 million to shareholders via dividends. The company also settled a lawsuit with U.S. public water suppliers for up to $10.3 billion. 3M's fiscal 2024 outlook includes adjusted sales growth of (0.25%) to +1.75% and adjusted EPS of $6.80-$7.30.

Portfolio Pulse from Akanksha Bakshi

April 30, 2024 | 2:16 pm

IMAX

PSMT

RJF

WMT

Insiders at Walmart, IMAX, PriceSmart, and Raymond James Financial have recently sold shares. These sales could indicate various sentiments about the companies' prospects. Walmart's CEO sold shares after a price target adjustment. IMAX's CTO sold shares following an earnings beat. PriceSmart's director sold shares after announcing a special dividend. Raymond James Financial's CEO sold shares after mixed financial results.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:25 pm

BAC

Bank of America Corp (NYSE:BAC) reported Q1 earnings surpassing expectations with an adjusted net income of $7.2 billion and EPS of 83 cents, beating the 77 cents consensus. Revenue declined slightly, but still exceeded forecasts. Following this, BAC declared a quarterly dividend of 24 cents per share. The article also explains how investors can earn monthly income from BAC's dividends, requiring ownership of a significant number of shares to achieve specific income goals. BAC's stock price fell 1.5% to close at $35.79.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:10 pm

DOW

HUN

KRO

Wall Street's most accurate analysts have provided updates on three materials sector stocks with high dividend yields: Kronos Worldwide, Inc. (KRO), Dow Inc. (DOW), and Huntsman Corporation (HUN). KRO's ratings include an Underweight from Barclays and a Buy from Deutsche Bank, with recent positive financial results. DOW received a Neutral from Mizuho and an upgrade to Overweight from JP Morgan after reporting strong quarterly earnings. HUN was upgraded to Overweight by Wells Fargo and maintained a Buy from Stifel, with an upcoming financial results call.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 11:54 am

STLA

TSLA

Stellantis N.V. (NYSE:STLA) reported a 12% decline in Q1 revenue to $44.6 billion, missing expectations due to volume, mix, and foreign exchange challenges. Shipments fell by 10%, while BEV and LEV sales rose by 8% and 13%, respectively. The company plans to launch 25 new models in 2024, with four already introduced. A €3 billion share buyback and a 16% dividend increase were confirmed. The revenue dip was partly due to a UAW strike impacting 2023 earnings. Tesla Inc. also reported a 9% drop in Q1 revenue to $21.0 billion, missing estimates.

Portfolio Pulse from Pooja Rajkumari

April 30, 2024 | 11:28 am

OMF

OneMain Holdings has announced an increase in its dividend from $1.00 to $1.04, signaling a positive outlook and financial strength.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:46 am

MPC

Marathon Petroleum announced an additional $5 billion share repurchase authorization, having returned $2.5 billion through share repurchases and dividends this quarter, totaling $35 billion since May 2021.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:43 am

MMM

3M announced that after the spin-off of Solventum, its dividend payout ratio is expected to be around 40% of its adjusted free cash flow.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:41 am

TMUS

T-Mobile USA announced a proposed public offering of Euro-denominated senior notes. The net proceeds will be used for general corporate purposes including share repurchases, potential dividends, and refinancing existing debt.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 7:43 am