Streetbeat News

Dividends

AXP

COWZ

IBKR

On CNBC's 'Halftime Report Final Trades,' experts highlighted their top picks including Pacer US Cash Cows 100 ETF (COWZ), U.S. 2 Year Treasury Note, American Express (AXP), and Interactive Brokers (IBKR). American Express is anticipated to report an increase in quarterly earnings and revenue on April 19. Interactive Brokers reported better-than-expected Q1 results and raised its dividend. COWZ fell 0.3%, AXP shares dropped 0.3%, while IBKR shares increased by 1.7%.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 1:17 pm

UTZ

Utz Brands, Inc. (UTZ) has announced the sale of two manufacturing facilities to Our Home for $18.5 million, aiming to reduce long-term debt and add cash to its balance sheet. This move is part of Utz's supply chain transformation strategy, reducing its manufacturing facilities from 16 to 8 since 2021. The transactions are expected to close on April 22, 2024, and are anticipated to be accretive to Utz's Adjusted EPS in 2024. Additionally, Utz has completed a repricing of its $630 million Term Loan, reducing the interest rate and expecting to save $2 million annually in cash interest expense.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:14 pm

F

Ford Motor Company (NYSE:F) is anticipated to report Q1 earnings on April 24, with expected earnings of 42 cents per share, down from 63 cents per share year-over-year, and projected revenue of over $40.2 billion, up from $36 billion. Ford's current dividend yield is 4.98%, equating to a quarterly dividend of 15 cents a share. To earn a monthly dividend income of $500, an investor would need to own approximately 10,000 shares, valued at around $120,400. The article also discusses how dividend yields fluctuate with stock prices and dividend payments. Ford's stock fell 0.4% to $12.04 following a recall of around 456,565 vehicles in the U.S.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 1:12 pm

AIRC

BX

LBO

Blackstone Inc (NYSE:BX) shares fell in premarket trading after reporting Q1 FY24 results. Despite beating adjusted revenue expectations with $2.55 billion and distributable earnings per share of $0.98, net accrued performance revenue declined. Assets under management grew 7% Y/Y to $1.06 trillion. The company declared a quarterly dividend of $0.83 per share and repurchased 0.7 million shares. Blackstone also announced the acquisition of Apartment Income REIT Corp. (NYSE:AIRC) for about $10 billion. Exposure to Blackstone stock is available through EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO).

Portfolio Pulse from Lekha Gupta

April 18, 2024 | 12:51 pm

CAT

Caterpillar Inc. (NYSE:CAT), a 'Dividend Aristocrat,' is forecasted by analysts to see a 22% stock price surge amid economic uncertainty. The company, known for its consistent dividend increases for over 25 years, has outperformed the market with a 21.1% YTD increase. Analysts rate CAT as a 'Moderate Buy' with a mean price target of $322.79, while Jefferies suggests a 22.8% upside potential. Caterpillar's strong financials, including a robust cash balance and significant cash flow generation, support continued dividend growth.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 12:17 pm

BSM

Black Stone Minerals (BSM) shares dropped following the company's announcement of reducing its distribution from $0.475 to $0.375.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 11:54 am

INFY

For FY24, Infosys' Board has recommended a final dividend of $0.24 per ADS and a special dividend of $0.10 per ADS, aligning with their capital allocation policy to payout 85% of Free Cash Flow from FY20 to FY24.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 11:38 am

IDGT

NOK

QTUM

Nokia Corp (NYSE:NOK) reported a 20% year-on-year decline in Q1 2024 net sales to €4.67 billion, missing consensus estimates. Despite this, net profit increased to €438 million from €289 million a year ago, with EPS of $0.10 beating the consensus of $0.06. The decline in sales was attributed to weak demand in Network Infrastructure and Mobile Networks, partially offset by a significant increase in Nokia Tech sales due to new patent license agreements. Gross and operating margins improved, and the company announced a dividend of €0.04 per share. Nokia reaffirmed its FY24 outlook, expecting growth in Network Infrastructure sales and a comparable operating profit of between €2.3 billion and €2.9 billion. Nokia stock has fallen 29% over the last 12 months but traded higher by 0.90% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

April 18, 2024 | 11:35 am

IRDM

Iridium Communications (IRDM) has reiterated its FY24 financial outlook, expecting service revenue growth of 4%-6%, OEBITDA of $460M-$470M, cash taxes under $10M through 2026, and a reduction in net leverage to below 2.5 times OEBITDA by end of 2026.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 11:05 am

MMC

Marsh & McLennan Companies, Inc. (NYSE:MMC) is anticipated to report higher Q1 earnings with an expected EPS of $2.80, up from $2.53 year-over-year, and revenue of $6.39 billion, up from $5.92 billion. The company declared a quarterly dividend of 71 cents per share, payable on May 15, 2024. Shares rose 0.7% to close at $197.62 recently. Analysts have adjusted their ratings, with Piper Sandler and Wells Fargo downgrading the stock, while Evercore ISI Group and others have adjusted their price targets.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 6:45 am