Streetbeat News

Dividends

ACN

Accenture has adjusted its fiscal 2024 outlook, expecting Q3 revenue of $16.25B-$16.85B, below the $17.01B estimate. The FY24 revenue growth forecast is revised to 1%-3% from 2%-5%, with adjusted EPS expected to be $11.97-$12.20, slightly below the $12.24 estimate. The company anticipates a GAAP operating margin of 14.8% and an adjusted operating margin of 15.5%. GAAP diluted EPS is forecasted to be $11.41-$11.64, and the firm plans to return at least $7.7 billion to shareholders.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 10:49 am

ACN

Accenture plc announced a 15% increase in its quarterly cash dividend to $1.29 per share for shareholders of record as of April 11, 2024, payable on May 15, 2024. This follows a previous dividend payment of $1.29 per share on February 15, 2024, totaling $813 million.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 10:43 am

ACN

FDX

GES

NKE

Accenture, Guess?, NIKE, Micron Technology, and FedEx are stocks to watch due to earnings reports and financial results. Accenture is expected to report earnings with Guess? already reporting better-than-expected results and a special dividend. NIKE's earnings are anticipated, while Micron reported strong results and guidance. FedEx is also expected to report earnings.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 7:31 am

ATI

CMC

COPX

NUE

Nucor Corporation has partnered with Mercedes-Benz to supply low-carbon steel for vehicle production, aligning with sustainability goals. ATI Inc. launched a new forging press to enhance titanium production for aerospace and defense. The Global X Copper Miners ETF saw a significant surge due to a rise in copper prices, driven by market tightness. Commercial Metals Company announced an increased quarterly dividend.

Portfolio Pulse from Austin DeNoce

March 20, 2024 | 9:06 pm

GES

Guess?, Inc. (NYSE:GES) reported Q4 earnings of $2.01 per share, surpassing estimates of $1.56, with sales of $891.05 million beating estimates of $855.54 million. The company announced a special cash dividend of $2.25 per share and expects Q1 revenue to grow 1-2%. Fiscal year 2025 revenue is projected to increase 11.5-13.5%, with earnings of $2.56-$3.00 per share. CEO Carlos Alberini highlighted the integration of rag & bone and the launch of Guess Jeans targeting Generation Z.

Portfolio Pulse from Erica Kollmann

March 20, 2024 | 8:43 pm

GES

Guess? Inc. (GES) shares surged following the announcement of its Q4 financial results, which exceeded expectations. Additionally, the company declared a special dividend of $2.25 per share.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 8:26 pm

GES

Guess? Inc. has announced a special cash dividend of $2.25 per share and a regular quarterly cash dividend of $0.30 per share, both payable on May 3, 2024, to shareholders of record as of April 17, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 8:18 pm

CMPS

CYBN

MNMD

PSIL

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm

SPOT

BofA Securities analyst Jessica Reif Ehrlich raised the price target for Spotify Technology S.A. (NYSE:SPOT) to $315 from $265 and maintained a Buy rating. The optimism is based on expected Q1 FY24 results in line with guidance, potential for a share repurchase program post-new CFO announcement, and sustainable share price momentum driven by subscriber growth and monetization opportunities. Adjustments were made to the first-quarter forecast and CY24 estimates, while CY25 and CY26 forecasts were raised, indicating mid-teens revenue growth.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 6:10 pm

PUK

Prudential plc (NYSE:PUK) shares fell after reporting FY 2023 results with increased insurance revenue, new business profit, and adjusted operating profit. The company also raised its dividend, reflecting positive financial and operational performance and strategic progress.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 4:53 pm