Streetbeat News

Dividends

IBKR

Interactive Brokers announced an increase in its quarterly dividend from $0.10 to $0.25, signaling confidence in its financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:05 pm

KBWB

NTRS

SAEF

Northern Trust Corporation (NTRS) shares fell after reporting Q1 FY24 results with a 6% Y/Y sales decline to $1.65 billion, missing estimates, and a sharp EPS drop to $0.96 from $1.51 Y/Y. Adjusted EPS beat estimates at $1.70. Expenses rose 6% Y/Y, and assets under management were $1.5 trillion. The company returned $285.4 million to shareholders. Exposure to NTRS can be gained through KBWB and SAEF ETFs.

Portfolio Pulse from Lekha Gupta

April 16, 2024 | 5:24 pm

IAI

KBWB

MS

Morgan Stanley (NYSE:MS) shares surged after reporting Q1 FY24 financial results that exceeded expectations, with revenues of $15.1 billion against a consensus of $14.34 billion. The Wealth Management division saw revenue of $6.9 billion, Investment Banking generated $1.45 billion, and Investment Management reported $1.4 billion in net revenues. Net profit was $3.4 billion, up from $3.0 billion a year ago, with an EPS of $2.02, surpassing the consensus of $1.68. The company also declared a quarterly dividend of $0.85 per share and repurchased $1.0 billion of its stock. Exposure to MS stock can also be gained through IShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSE:IAI) and Invesco KBW Bank ETF (NASDAQ:KBWB).

Portfolio Pulse from Lekha Gupta

April 16, 2024 | 2:21 pm

JNJ

Johnson & Johnson (NYSE:JNJ) reported Q1 earnings with an adjusted EPS of $2.71, surpassing Wall Street estimates and showing a 12.4% increase year over year. Sales rose to $21.38 billion, with significant contributions from its medical devices sector, leading to a net profit of $5.35 billion compared to a net loss the previous year. The company also raised its quarterly dividend and updated its fiscal year 2024 sales and EPS guidance upwards.

Portfolio Pulse from Vandana Singh

April 16, 2024 | 1:29 pm

IAT

PNC

RDIV

PNC Financial Services Group Inc (NYSE:PNC) reported first-quarter FY24 results with an 8% Y/Y revenue decline to $5.15 billion, missing consensus estimates. Net interest income and noninterest income both decreased, contributing to the revenue decline. Despite this, adjusted EPS was above consensus at $3.36. The company also declared a quarterly dividend of $1.55 per share. PNC expects FY24 revenue to be stable to down 2%, with net interest income declining 4%-5% Y/Y. Shares are down 1.88% in premarket trading. Exposure to PNC can also be gained through IShares U.S. Regional Banks ETF (NYSE:IAT) and Invesco S&P Ultra Dividend Revenue ETF (NYSE:RDIV).

Portfolio Pulse from Lekha Gupta

April 16, 2024 | 12:51 pm

BK

The Bank Of New York Mellon Corporation (NYSE:BK) reported Q1 earnings with an EPS of $1.29, surpassing the expected $1.19, and revenue of $4.527 billion, exceeding forecasts of $4.388 billion. Despite an 8% decrease in net interest income, total fee revenue grew by 5% year over year. The company also declared a quarterly dividend of $0.42 per share, payable on May 9, 2024. Shares rose 2% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

April 16, 2024 | 12:20 pm

AAPL

Apple Inc. (AAPL) shares dropped after a report showed a 10% decline in smartphone shipments, making Samsung the top global phone maker. Ahead of its Q2 earnings release on May 2, 2024, Apple is expected to report earnings of $1.51 per share on revenue of $90.52 billion. The article also explores how investors can earn $500 a month from Apple's dividends, requiring an investment of approximately $1,079,313 to achieve this with Apple's current annual dividend yield of 0.56%.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 12:01 pm

CC

KALU

KRO

Wall Street's most accurate analysts have provided updates on three high-dividend yielding materials stocks: Kronos Worldwide, Inc. (KRO), The Chemours Company (CC), and Kaiser Aluminum Corporation (KALU). KRO reported better-than-expected Q4 results, leading to a price target adjustment by Barclays and Deutsche Bank. CC posted upbeat quarterly results, with BMO Capital and UBS adjusting their price targets. KALU is anticipated to release its Q1 2024 financial results soon, with UBS and Benchmark providing their ratings and price targets.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 11:48 am

JNJ

Johnson & Johnson announced a 4.2% increase in its quarterly dividend, raising it from $1.19 to $1.24 per share, payable on June 4, 2024, to shareholders of record as of May 21, 2024, with an ex-dividend date of May 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 10:29 am

NS

SUN

NuStar Energy L.P. announced a conditional special distribution of $0.212 per unit, payable on May 2, 2024, to common unit holders on record as of April 26, 2024. This distribution is contingent upon the approval of NuStar's acquisition by Sunoco LP (SUN) at a special meeting scheduled for May 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 8:54 pm