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Dividends

NVDA

QCOM

Qualcomm Inc (NASDAQ:QCOM) shares dropped 1.1% to $150.23 as the market anticipates NVIDIA Corp's earnings. NVIDIA's results are significant due to its influence in the AI industry, with expectations of a strong quarter. Qualcomm pays a dividend yielding 2.57% annually as of Feb. 21, 2024, and its stock performance is also influenced by buyback programs.

Portfolio Pulse from Henry Khederian

February 21, 2024 | 7:28 pm

DHI

ITB

LEN

TOL

Toll Brothers Inc (NYSE:TOL) shares surged 5% following better-than-expected results and an optimistic 2024 outlook, influencing the entire homebuilding sector. The company plans to return cash to shareholders through dividends or buybacks. Rivals D.R. Horton Inc (NYSE:DHI) and Lennar Corporation (NYSE:LEN) also reported positive results, contributing to sector optimism. The iShares U.S. Home Construction ETF (NYSE:ITB) saw a 1% increase. Despite a recent slump in housing starts, the sector remains hopeful due to strong demand and limited supply.

Portfolio Pulse from Neil Dennis

February 21, 2024 | 7:05 pm

ATCH

EBS

GBNH

IFF

VTYX

International Flavors & Fragrances Inc. (IFF) shares fell by 8.4% after reporting mixed Q4 results and cutting its dividend by 50%. Other stocks moved significantly in the session, with notable gainers including Greenbrook TMS Inc. (GBNH), Emergent BioSolutions Inc. (EBS), and Ventyx Biosciences, Inc. (VTYX), among others. Losers included AtlasClear Holdings, Inc. (ATCH), Shineco, Inc. (SISI), and Synchronoss Technologies, Inc. (SNCR), with various reasons such as poor financial results, weak guidance, and regulatory issues.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 6:50 pm

GIL

Gildan Activewear, Inc. (NYSE:GIL) shares rose after reporting Q4 earnings and revenue that beat analyst expectations. Earnings per share were $0.75, above the consensus of $0.73, with revenues at $782.7 million, surpassing the expected $764.48 million. Net sales increased by 9% year over year, with activewear sales up 8% and hosiery and underwear sales up 11%. The company also raised its quarterly dividend by 10% and provided an FY24 outlook expecting revenue growth to be flat to low-single digits and adjusted EPS of $2.92-$3.07.

Portfolio Pulse from Nabaparna Bhattacharya

February 21, 2024 | 5:25 pm

ADI

Analog Devices, Inc (NASDAQ:ADI) reported Q1 fiscal 2024 results with a revenue decline of 22.7% Y/Y to $2.513 billion, slightly beating consensus. Adjusted EPS was $1.73, above the consensus of $1.71. The company saw a decline in Industrial and Communications revenue, but Automotive revenue grew by 9% Y/Y. The adjusted gross and operating margins declined due to lower revenue. The quarterly dividend was raised by 7% to $0.92 per share. The outlook for Q2 revenue and adjusted EPS is below consensus. ADI's stock traded higher by 1.66% to $192.49, with an average 1-year price target of $201.0.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 5:17 pm

XEL

Xcel Energy Inc. (NASDAQ:XEL) has increased its quarterly dividend from $0.52 to $0.5475 per share, marking a 5.3% increase and the twenty-first consecutive year of dividend growth. The new annual dividend rate is $2.19 per share, with dividends payable on April 20, 2024, to shareholders of record as of March 15, 2024. The company also targets a long-term dividend payout ratio of 50-60% and aims for 5-7% annual growth in dividend and earnings per share.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 5:09 pm

CYH

EXC

MAX

MOTS

PANW

THRM

UCAR

U.S. stocks traded lower with the Nasdaq Composite down 0.5%. Energy shares rose by 1.5%, while information technology shares fell by 1%. Exelon Corp reported better-than-expected Q4 results and increased its dividend. MediaAlpha, Gentherm, and Motus GI Holdings saw shares rise after positive financial results or patent news. Palo Alto Networks, U Power, and Community Health Systems shares fell due to disappointing guidance, delisting notice, and financial results, respectively. Oil prices increased by 0.6%.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 5:03 pm

EXC

Exelon Corp (NASDAQ:EXC) reported a 15% year-over-year growth in Q4 fiscal 2023 operating revenue to $5.37 billion, surpassing estimates of $4.17 billion. Adjusted EPS rose to $0.60 from $0.43, beating the $0.58 estimate. Adjusted Operating Earnings increased across its subsidiaries, with notable growth in ComEd, PECO, BGE, and PHI due to various factors including rate increases and favorable impacts from lower costs. Despite a slight decrease in net cash flows from operating activities compared to 2022, Exelon declared a 5.6% increase in its quarterly dividend to $0.38 per share for Q1 2024. The company plans to invest $35 billion over the next four years, targeting a 7.5% rate base growth and an annualized earnings growth rate of 5% to 7% through 2027. For 2024, Exelon expects adjusted EPS of $2.40 to $2.50. Following the announcement, EXC shares rose by 4% to $36.12.

Portfolio Pulse from Akanksha Bakshi

February 21, 2024 | 4:49 pm

SUI

Sun Communities' shares rose following the announcement of better-than-expected Q4 financial results and positive FY24 Core FFO guidance. The company also announced an increase in its annual distribution.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 4:20 pm

WING

Wingstop Inc. (NASDAQ:WING) reported Q4 fiscal 2023 earnings with adjusted EPS of 64 cents, surpassing Wall Street's estimate of 57 cents. Revenues rose 21.2% to $127.05 million, exceeding expectations. System-wide sales increased 24.5% to $965.9 million. The company announced 115 net new openings, bringing the total to 2,214 Wingstop restaurants. Adjusted EBITDA grew 13.2% to $39.1 million. A quarterly dividend of 22 cents per share will be paid on March 29, 2024. For fiscal 2024, Wingstop anticipates mid-single-digit domestic same-store sales growth and around 270 global net new units. The company expects stock-based compensation expense of about $19 million and depreciation and amortization of $18 million to $19 million. Despite the positive report, WING shares dropped 2.77% to $315.47.

Portfolio Pulse from Nabaparna Bhattacharya

February 21, 2024 | 4:16 pm