Streetbeat News

Dividends

TRI

Thomson Reuters announced a 10% increase in its annual dividend to $2.16 per common share, marking the 31st consecutive year of dividend increases. The quarterly dividend is now $0.54 per share, payable on March 8, 2024, to shareholders of record as of February 21, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:37 pm

BKKT

CMP

SYRA

TENX

Compass Minerals International, Inc. (CMP) shares fell by 9% following disappointing quarterly results, missing both earnings and sales estimates. Other stocks showed significant movement, with notable gainers including Syra Health Corp. (SYRA) and Hitek Global Inc. (HKIT), and losers like Tenax Therapeutics, Inc. (TENX) and Bakkt Holdings, Inc. (BKKT). The article also highlights stocks that surged due to partnerships, financial results, and other corporate announcements.

Portfolio Pulse from Avi Kapoor

February 08, 2024 | 6:07 pm

AMKBY

Moller Maersk (OTC:AMKBY) shares fell 15.5% after warning of potential impacts on its 2024 earnings due to the Red Sea crisis, leading to immediate capacity constraints and a temporary increase in rates. The crisis has caused the company to suspend its share buyback program and revise its full-year earnings forecast for 2024 to between $1 billion and $6 billion, down from $9.6 billion in 2023. The crisis has also led to increased costs and delays for shipping firms as they divert routes, potentially affecting global commodity markets and inflation.

Portfolio Pulse from Neil Dennis

February 08, 2024 | 5:52 pm

COP

ConocoPhillips (NYSE:COP) reported Q4 FY23 results with revenue of $15.307 billion, missing the consensus of $15.942 billion, but an adjusted EPS of $2.40 beat the $2.09 consensus. Production increased to 1,902 MBOED, up 144 MBOED Y/Y. The average realized price per barrel declined 18% Y/Y. The company announced a $9 billion capital return plan for FY24 and declared a quarterly dividend of $0.58 per share. Shares rose 1.8% to $114.35.

Portfolio Pulse from Lekha Gupta

February 08, 2024 | 5:47 pm

OXY

Occidental Petroleum Corporation has announced an increase in its quarterly dividend from $0.18 to $0.22 per share.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 5:32 pm

TPR

Tapestry, Inc. (NYSE:TPR) shares surged following its Q2 earnings report, surpassing expectations with revenue of $2.085 billion and adjusted EPS of $1.63. The company saw a 6% increase in Coach brand sales, while Kate Spade and Stuart Weitzman experienced declines. Tapestry raised its FY24 EPS outlook from $4.10-$4.15 to $4.20-$4.25 and plans to return $325 million to shareholders through dividends, marking a 17% increase from the previous year.

Portfolio Pulse from Nabaparna Bhattacharya

February 08, 2024 | 5:20 pm

DEI

HIW

SPG

Three REITs, Simon Property Group Inc. (SPG), Douglas Emmett Inc. (DEI), and Highwoods Properties Inc. (HIW), reported fourth-quarter earnings that beat Wall Street estimates, leading to price appreciation. SPG and DEI saw revenue increases year over year, while HIW's revenue slightly declined. SPG raised its quarterly dividend, and despite a lower 2024 FFO guidance, shares rallied about 5%. DEI's shares rose over 4% post-earnings, and HIW's shares increased over 2% after beating FFO estimates but missing on revenue.

Portfolio Pulse from Ethan Roberts

February 08, 2024 | 5:11 pm

DIS

FOX

FOXA

WBD

The Walt Disney Company (NYSE:DIS) reported Q1 financial results, beating earnings per share estimates but missing on revenue. Analysts are bullish, with upgrades and raised price targets. Disney announced cost savings, a dividend increase, a share buyback plan, and subscriber growth for Disney+. A joint venture for a sports streaming platform with Fox Corporation (NASDAQ:FOX) (NASDAQ:FOXA) and Warner Bros. Discovery (NASDAQ:WBD) was also announced, along with plans for an ESPN standalone streaming platform.

Portfolio Pulse from Chris Katje

February 08, 2024 | 4:40 pm

RL

Ralph Lauren Corporation (NYSE:RL) shares surged after reporting Q3 earnings and revenue that beat expectations. Earnings per share were $4.17 against an expected $3.54, with revenue at $1.93 billion surpassing the $1.87 billion forecast. The company saw a 6% revenue increase, with all regions performing well, especially Asia. Adjusted gross margin improved to 66.4%, and operating income reached $318 million. Ralph Lauren also repurchased $103 million of its stock and provided an optimistic outlook for fiscal 2024, expecting revenue growth and operating margin expansion.

Portfolio Pulse from Nabaparna Bhattacharya

February 08, 2024 | 4:39 pm

HSY

Hershey Company (NYSE:HSY) reported a slight increase in Q4 fiscal 2023 sales to $2.66 billion, missing expectations. Adjusted EPS was flat YoY at $2.02, beating consensus. Gross and operating margins contracted, with a notable decline in operating income. Sales in North America Confectionery rose, while Salty Snacks fell sharply, and International segment sales increased. Hershey announced a 15% dividend increase and expects 2%-3% sales growth in 2024 with flat adjusted EPS. HSY shares rose 5.56% to $205.07.

Portfolio Pulse from Akanksha Bakshi

February 08, 2024 | 4:24 pm