Streetbeat News

Dividends

GOOG

GOOGL

META

MSFT

Alphabet Inc. (GOOG, GOOGL) saw its stock surge over 10% after announcing its Q1 earnings, which exceeded expectations with an EPS of $1.89 and revenue of $80.54 billion. The earnings beat, combined with the announcement of a $70 billion buyback program and the company's first-ever dividend, fueled investor enthusiasm. Comparisons were drawn to Meta Platforms Inc. (META), which also announced its first dividend in the previous quarter. Alphabet's strong performance in various tech sectors, including Google Cloud and YouTube advertising, was highlighted.

Portfolio Pulse from Surbhi Jain

April 26, 2024 | 1:02 pm

XOM

Exxon Mobil Corporation (NYSE:XOM) reported Q1 FY24 earnings with revenues of $83.083 billion, surpassing expectations but saw a decrease in adjusted net profit to $8.22 billion from $11.62 billion a year ago, attributed to lower refining margins and natural gas prices. Adjusted EPS was $2.06, missing the consensus of $2.20. The company declared a Q2 dividend of $0.95 per share and announced a final investment decision for the Whiptail development offshore Guyana. XOM shares dropped 1.82% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 12:58 pm

CHRW

KMT

MSM

Wall Street's most accurate analysts have provided updates on three industrials stocks with over 3% dividend yields: Kennametal Inc (KMT), C.H. Robinson Worldwide, Inc. (CHRW), and MSC Industrial Direct Co., Inc. (MSM). These updates include changes to price targets and ratings, reflecting the analysts' views on the stocks' future performance.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:39 pm

FIX

Comfort Systems shares surged following the announcement of stronger-than-expected Q1 financial results and a hike in its quarterly dividend.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:38 pm

CVX

Chevron Corp (NYSE:CVX) reported a Q1 2024 revenue of $48.716 billion, a 4.1% decrease YoY, missing expectations. Despite this, net oil-equivalent production increased, and adjusted net earnings beat consensus. U.S. Upstream earnings rose, while international upstream and downstream earnings fell. CVX returned $6 billion to shareholders and declared a quarterly dividend of $1.63 per share. Operating cash flow and cash reserves were reported, with CVX shares trading lower by 0.89% in premarket.

Portfolio Pulse from Akanksha Bakshi

April 26, 2024 | 12:25 pm

GOOGL

INTC

SNAP

Alphabet Inc. reported first-quarter revenue of $80.539 billion, a 15% increase year-over-year, surpassing estimates. Earnings were $1.89 per share, beating forecasts. Alphabet announced a $70 billion share repurchase program and its first-ever quarterly dividend, causing shares to rise 11.9% in pre-market trading. Other stocks also moved significantly in pre-market trading, with notable gainers including Tevogen Bio Holdings, Pineapple Energy, and Freight Technologies, and losers such as Aclarion, Vincerx Pharma, and SCWorx Corp.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:18 pm

EIPX

KEAT

TTE

TotalEnergies SE (NYSE:TTE) reported a mixed quarter with an adjusted EPS of $2.14, down 18% Y/Y but beating consensus estimates. Hydrocarbon production slightly fell, and adjusted operating income and EBITDA saw declines across segments. The company announced a dividend increase, a share repurchase program, and anticipates stable production and refinery utilization rates for the next quarter. TotalEnergies also acquired a 50% stake in SapuraOMV Upstream Sdn for $530 million. Investors can gain exposure to TTE through EIPX and KEAT ETFs. TTE shares are down 0.41% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 12:08 pm

PSX

Phillips 66 aims to increase its mid-cycle adjusted EBITDA to $14 billion by 2025 and return over 50% of operating cash flow to shareholders. The company has already distributed $9.9 billion through share repurchases and dividends since July 2022, targeting $13 billion to $15 billion by the end of 2024. It also plans to divest assets not fitting its long-term strategy, including its retail marketing business in Germany and Austria.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:03 am

AROC

Archrock (AROC) has extended its Share Repurchase Program for an additional 24 months, with the Board of Directors authorizing a replenished capacity of $50 million for share repurchases. Additionally, a quarterly dividend of $0.165 per share has been declared, to be paid in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 10:38 am

CVX

GOOG

MSFT

PSX

XOM

U.S. stock futures are trading higher with focus on Exxon Mobil, Microsoft, Chevron, Alphabet, and Phillips 66 due to earnings reports and announcements. Exxon Mobil is expected to report earnings with a slight share drop in after-hours. Microsoft exceeded earnings and sales expectations, causing a share price jump. Chevron is anticipated to post earnings with a minor after-hours share decrease. Alphabet announced a significant share repurchase program and a dividend, leading to a substantial share price increase. Phillips 66 is expected to report earnings with a slight increase in after-hours trading.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 6:59 am