Streetbeat News

Dividends

GOOGL

U.S. stock markets closed higher, driven by strong tech earnings and mild inflation data. Alphabet announced its first dividend and a $70 billion buyback, boosting its shares by 10% and its valuation above $2 trillion. The PCE price index rose to 2.7% in March. Asian markets also saw gains, while European markets were mixed. Commodities and U.S. futures indicated varied movements, with the yen surging against the dollar due to potential Japanese intervention.

Portfolio Pulse from Akanksha Bakshi

April 29, 2024 | 10:35 am

BKKT

CLVR

PHG

TSLA

Koninklijke Philips N.V. (PHG) shares surged 37.1% in pre-market trading after announcing Q1 results and a $1.1 billion settlement in the US. Other stocks showed significant movement, with Inno Holdings, Ryde Group, and Akanda Corp among the top gainers. Conversely, Bakkt Holdings and Clever Leaves led the pre-market losers following a reverse stock split and delisting announcement, respectively. Tesla also gained attention with a 7.3% increase after announcing layoffs and a price hike for its Model 3 Performance.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 9:53 am

DPZ

GOOG

MSFT

NXPI

U.S. stocks experienced gains with the S&P 500 having its best week since November 2023, rising 2.7%. The Dow and Nasdaq also saw increases. Alphabet Inc. shares surged 10% after announcing positive Q1 results and a $70 billion share repurchase program, along with its first-ever dividend. Microsoft Corp. also reported strong earnings. The market's mood improved slightly according to the CNN Money Fear and Greed Index, though it remained in the 'Fear' zone. Investors are looking forward to earnings from ON Semiconductor, NXP Semiconductors, and Domino's Pizza.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 6:58 am

GOOGL

TSLA

Cathie Wood, founder of Ark Investment Management, praised Tesla, Inc. for its significant investment in artificial intelligence, highlighting it as a key differentiator from other companies in the auto and tech sectors. This stance aligns with Elon Musk's view of Tesla as the largest AI project on Earth. Wood's comments come amid a backdrop where companies, including Alphabet Inc., are increasingly focusing on short-term shareholder returns, such as dividends and share repurchases. Alphabet recently announced its first-ever dividend, contrasting with Tesla's focus on long-term investments in AI and self-driving technology.

Portfolio Pulse from Shanthi Rexaline

April 29, 2024 | 6:53 am

CMG

NVDA

Nvidia Corp. (NVDA) has benefited from its AI technology sector exposure, but Chipotle Mexican Grill, Inc. (CMG) is considered more expensive based on forward P/E ratios, according to investment advisor Ram Ahluwalia. Despite Chipotle's strong Q1 results and raised sales guidance, Ahluwalia suggests it may be a good time to take profits, citing the stock's high valuation. Chipotle's board has approved a 50-for-1 stock split, pending shareholder approval.

Portfolio Pulse from Shanthi Rexaline

April 28, 2024 | 3:47 pm

GOOG

GOOGL

Alphabet Inc (GOOG, GOOGL) shares surged after reporting strong Q1 results, surpassing expectations with significant revenue growth in Search and YouTube, driven by AI advancements and product innovation. Analysts from major firms upgraded their price targets and reiterated buy ratings, highlighting Alphabet's transition to AI leadership, operating leverage from cost controls, and confidence in future growth. The company also announced a quarterly dividend and a new share buyback program.

Portfolio Pulse from Priya Nigam

April 26, 2024 | 6:02 pm

IMO

Imperial Oil Limited (NYSE:IMO) reported a mixed first-quarter FY24 with an EPS of C$2.23, up from C$2.13 a year ago, but net income fell to C$1.20 billion from C$1.25 billion. Revenue slightly increased to C$12.3 billion. Upstream production and downstream throughput saw increases, with Kearl asset's production hitting a record high. Dividends paid amounted to C$278 million, with a declared Q2 dividend of C$0.60 per share. The company is also progressing with its Pathways Alliance carbon capture project. IMO shares dropped by 0.60% to $70.84.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 5:26 pm

EXPO

Exponent Inc (NASDAQ:EXPO) shares surged after reporting better-than-expected Q1 FY24 earnings, with sales growth of 3.3% to $144.93 million, surpassing estimates. EPS was $0.59, beating the consensus of $0.47. The company also raised FY24 revenue and margin guidance, attributing demand to global safety, health, and environmental concerns. A quarterly dividend of $0.28 per share was declared, with shares up 21.6% to $96.93.

Portfolio Pulse from Shivani Kumaresan

April 26, 2024 | 4:16 pm

The board of Kellanova plans to increase its quarterly dividend from $0.56 to $0.57 per share starting in Q3.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:32 pm

GOOG

MSFT

Dan Ives of Wedbush praised the March 2024 quarter earnings of Microsoft Corp. (MSFT) and Alphabet Inc. (GOOG, GOOGL), highlighting the significant investment in AI technologies as a pivotal moment akin to the 'fourth industrial revolution'. Both companies exceeded analyst expectations, with Microsoft reporting a 17% revenue increase and Alphabet announcing its first-ever dividend after a 15% revenue growth. Ives compared this period to a '1995 moment' for AI, indicating a major industry shift.

Portfolio Pulse from Rounak Jain

April 26, 2024 | 3:17 pm