Streetbeat News

Dividends

IGT

International Game Technology PLC (NYSE:IGT) reported Q4 fiscal 2023 revenue of $1.13 billion, a 3% increase Y/Y, surpassing consensus estimates of $1.11 billion. Adjusted EPS was $0.56, beating the consensus of $0.41. Revenue from Global Lottery rose 7% Y/Y, while PlayDigital fell 10%. Adjusted EBITDA increased 9% Y/Y to $454 million. The company declared a quarterly dividend of $0.20 per share. CEO Vince Sadusky announced plans to split the business into separate lottery and gaming companies. IGT forecasts fiscal 2024 revenue between $4.30 billion and $4.40 billion, with shares falling 4.59% to $24.00.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 2:23 pm

BCAN

BLDE

CLRO

NRXP

PACK

RGLS

U.S. stocks traded higher with the Dow gaining 0.27% and the Nasdaq up by 0.69% amid news of U.S. inflation rate rising to 3.2% in February, surpassing expectations. ClearOne, Regulus Therapeutics, and Ranpak Holdings reported significant stock movements due to corporate announcements, while BYND Cannasoft, Blade Air Mobility, and NRx Pharmaceuticals saw declines.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 2:11 pm

LCUT

Lifetime Brands Inc (NASDAQ:LCUT) reported a slight decline in Q4 2023 net sales by 1.9% Y/Y to $203.1 million, surpassing consensus estimates of $197.9 million. Despite a decrease in gross margin and adjusted EPS missing consensus, the company saw gains in its U.S. Kitchenware segment and declared a quarterly dividend of $0.0425 per share. CEO Rob Kay highlighted growth in e-commerce as a key opportunity.

Portfolio Pulse from Lekha Gupta

March 12, 2024 | 1:46 pm

NVDA

ORCL

Oracle Corp (NYSE:ORCL) shares rose following its fiscal third-quarter results, reporting a 7% year-over-year revenue increase to $13.3 billion, slightly missing consensus estimates but beating earnings per share estimates with $1.41. The company saw significant growth in its cloud revenues, with total cloud revenues up 25% and cloud infrastructure revenues up 49%. Oracle's CEO, Safra Catz, highlighted the demand for Oracle's Gen2 AI infrastructure and projected that 43% of the company's $80 billion Remaining Performance Obligations will be recognized as revenue over the next four quarters. Oracle also declared a quarterly cash dividend of 40 cents per share. Additionally, Oracle plans to make joint announcements with Nvidia Corp (NASDAQ:NVDA) at Nvidia’s 2024 GTC Conference. Following these results, multiple analysts raised their price targets on Oracle.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 1:44 pm

NVDA

NVIDIA Corporation (NASDAQ:NVDA) shares fell 2% to close at $857.74 on Monday, following a recent 19% gain over the past month and a 78% increase year-to-date. Mizuho analyst Vijay Rakesh maintained a Buy rating on NVIDIA, raising the price target from $850 to $1,000. NVIDIA faces a lawsuit from three authors alleging unauthorized use of their works to train its AI platform. The article also explores how investors can earn monthly income from NVIDIA's dividends, with an annual yield of 0.02%.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 1:38 pm

AAL

American Airlines Group Inc (NASDAQ:AAL) shares dropped after the company updated its fuel price guidance for Q1, expecting to pay between $2.80 and $2.90 per gallon, up from the previous $2.65 to $2.85. This adjustment leads to an anticipated Q1 adjusted loss at the lower end of the previously guided range of 15 to 35 cents per share, while full-year 2024 guidance remains unchanged. The company pays a dividend yielding 1.22% annually as of March 12.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 1:32 pm

REFI

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) reported a 20% year-over-year growth in net income for 2023, with net interest income increasing by 17% and total expenses up by 39.4%. The company saw a sequential decrease in net income and distributable earnings in Q4 2023 due to increased management and incentive fees. Despite this, REFI's shares rose 2.20% in pre-market trading. The company expects to maintain a dividend payout ratio of 90% to 100% in 2024 and may issue a special dividend in Q4 2024 to meet taxable income distribution requirements.

Portfolio Pulse from Jelena Martinovic

March 12, 2024 | 12:55 pm

KSS

Kohl's Corp (NYSE:KSS) reported Q4 FY23 results with a slight sales decline of 1.1% to $5.71 billion, beating analyst estimates. Comparable sales dropped by 4.3%, but gross margin expanded significantly. Operating income turned positive, and EPS of $1.67 exceeded expectations. Inventory and SG&A expenses decreased, and a quarterly dividend was announced. The company provided a cautious FY24 outlook with sales growth expected to be between -1% and 1%, and EPS forecasted in the range of $2.10 to $2.70. KSS shares dropped 1.10% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 12:37 pm

BYD

IAS

ROKU

WSC

Insiders at WillScot Mobile Mini, Boyd Gaming, Integral Ad Science Holding, and Roku have recently sold shares. These sales could indicate various strategic decisions or perspectives on the companies' valuations. WillScot Mobile Mini reported disappointing earnings, Boyd Gaming increased its dividend, Integral Ad Science reported strong Q4 results, and Roku showed revenue growth.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 12:20 pm

MAIN

NYCB

Wall Street's most accurate analysts recommend holding three financial stocks with over 6% dividend yields: New York Community Bancorp, Inc. (NYCB), Main Street Capital Corporation (MAIN), and The Western Union Company (WU). These recommendations come amidst market turbulence, with detailed analyst ratings and recent news affecting each company.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 12:12 pm