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7% Dividend Yields or Higher: The S&P 500’s 6 Best Payouts
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Tag: Financial Performance
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Snowflake Shares Gain on Strong Earnings
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[ad_2]Snowflake shares were gaining ground Wednesday after the cloud data warehouse software company posted better-than-expected results for the quarter ended Oct. 31.
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PDD Stock Soars on Earnings as Alibaba and Amazon Rival Sees Staggering Growth
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[ad_2]Shares in PDD Holdings soared Tuesday after the online retailer reported quarterly results that were far ahead of Wall Street’s expectations. The rival to both Alibaba and Amazon revealed staggering growth.
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Zscaler’s stock falls after earnings as company keeps billings outlook intact
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Zscaler Inc. topped expectations with its results for the latest quarter and its outlook for the ongoing one, but shares of the cybersecurity company were moving lower in Monday’s extended session as Zscaler declined to up its full-year billings forecast.
Calculated billings for the fiscal first quarter came in at $457 million, up from $340 million a year prior, whereas analysts had been looking for $443 million. Despite showing upside in the latest quarter, Zscaler ZS kept its full-year forecast at $2.52 billion to $2.56…
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No, Jeff Bezos hasn’t been unloading Amazon stock
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A number of Amazon.com Inc. executives have disclosed sales of some of their Amazon stock holdings in recent weeks, but Jeff Bezos, the company’s executive chair and a mega-shareholder, was not among them.
Despite some reports to the contrary, Bezos hasn’t disclosed any sales of Amazon shares AMZN for two years, but he has given some shares away to nonprofit organizations.
There…
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Fisker Stock Is Down Again. It’s Still Feeling the Weight of Late Filing, Executive Departures.
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[ad_2]Fisker stock continues to be volatile in the aftermath of accounting control issues that led to unexpected management turnover.
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New-home sales drop in October to much lower level than expected
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The numbers: U.S. new-home sales fell 5.6% to a seasonally adjusted annual rate of 679,000 in October, from a revised 719,000 in September, the government reported Monday.
Analysts polled by the Wall Street Journal had forecast new-home sales to occur at a seasonally adjusted annual rate of 725,000 in October.
The data are often revised sharply….
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Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills
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BERLIN—Bayer Chief Executive Bill Anderson said the company would bounce back quickly from a recent spate of bad news, and warned that a breakup of the pharmaceutical and agricultural company was no universal cure for its ailments.
A stream of negative news has rekindled calls from investors for Bayer to unlock value by spinning off its units into separate businesses. But in an interview with The Wall Street Journal this week, Anderson said the company couldn’t be distracted from the tough restructuring to fix the businesses.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Nvidia ends an earnings recession and is helping to reshape corporate profits
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With yet another blowout earnings report, Nvidia Corp. has ended an earnings recession in the U.S. and helped to solidify the continuation of a drastic change to corporate profits.
Nvidia NVDA on Tuesday rode enduring demand for hardware that is essential for artificial-intelligence tasks to yet another record quarter, as revenue tripled and profit zoomed more than 1,300% higher year over year. Nvidia recorded earnings of more than $9 billion in just three months, a total it had never achieved in a full year before 2022.
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Lowe’s Sales Disappoint as Consumers Pull Back. The Stock Is Dropping.
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[ad_2]Lowe’s earned more than expected in the third quarter but the stock was tumbling after the home-improvement retailer reported disappointing sales and noted that consumers were reining in spending.
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Stock market surges toward 2023 high. Will holiday shoppers put it over the top?
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U.S. stocks have jumped back near to their summertime highs, a big rebound as investors enter the holiday season with Black Friday just days away.
The shopping frenzy expected on Friday, the day after Thanksgiving, kicks off a spending spree for the holidays that could help buoy stocks after their surge this month.
“With consumers employed…
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How Starbucks Lost the Top Spot in China’s Coffee Race
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Starbucks is losing its prime spot among chains racing to meet China’s growing thirst for coffee.
Luckin Coffee has surpassed Starbucks as China’s biggest coffee chain by sales and units, company reports show, a comeback for the Chinese company after an accounting scandal that stalled its growth.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Walmart’s shareholders may have anticipated today’s selloff — if they’d been watching its bonds
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Shareholders of Walmart Inc. may have had an inkling of today’s stock selloff if they had been watching the performance of its bonds over the last two weeks.
The bonds have seen net selling even as spreads have tightened, according to data solutions company BondCliQ Media Services.
The same is true for Costco Wholesale Corp.
COST,
-3.12% ,
as the company’s stock fell in sympathy with Walmart on Thursday. That was after Walmart
WMT,
-8.11%
Chief Executive Doug McMillon said he expects to see a U.S. deflation trend in the coming months.McMillon was the first retail executive to raise the specter of deflation on an earnings call this season so far.
For more, read: Walmart’s stock on pace for largest daily percentage decline in over a year after earnings
The comment came after the retail giant posted better-than-expected third-quarter earnings, but offered per-share earnings guidance that was below consensus, sending the stock down more than 7%.
The following charts show what’s been happening with Walmart and Costco bonds in the run-up to today’s numbers.
Bondholders tend to be keenly focused on a company’s underlying financials and closely watched metrics such as cash flow to ensure it can cover interest payments.
That’s because, by buying corporate bonds, they are effectively lending money to a company for a set term and want to be sure they will get their full investment back once they mature. Shareholders tend to be more tuned into daily stock-price movements.
Bonds of Walmart and Costco Wholesale by maturity bucket. Source: BondCliQ Media Services
The following chart shows the two-week volume for the bonds by trade type.
Bonds of Walmart and Costco Wholesale — two-week volume by trade type. Source: BondCliQ Media Services
The next chart focuses on two-week client flows, showing net selling for both issuers over the period.
Bonds of Walmart and Costco – two-week net client flow. Source: BondCliQ media Services
The selling has come as spreads have been tightening, as the next chart illustrates.
Select bonds of Walmart and Costco – two-week spread performance. Source: BondCliQ Media Services
Walmart’s numbers come after other retailers this week said they are seeing signs of pushback from their customers, especially when it comes to big-ticket items.
That was the message from Target Corp.
TGT,
-1.00%
on Wednesday, with that company’s sales number lagging consensus. Chief Executive Brian Cornell the company saw soft industry trends in discretionary categories, as well as higher inventory shrink.See also: Target CEO says consumers are still spending, but sees pressure on discretionary items
On Tuesday, Home Depot Inc.
HD,
-0.79%
said its customers were avoiding big-ticket items.“The third quarter was in line with our expectations – similar to the second quarter, we saw continued customer engagement with smaller projects and experienced pressure in certain big-ticket, discretionary categories,” said Home Depot CEO Ted Decker, during a conference call to discuss the results.
For more, see: Home Depot CEO says 2023 ‘a period of moderation’ in home improvement spending
Costco’s stock was down 2.5%, while Home Depot was down 0.7% and Target was down 0.2%.
The SPDR S&P Retail exchange-traded fund
XRT
was down 3% and has gained 2% in the year to date, while the S&P 500
SPX
has gained 17%.[ad_2]
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Walmart Beats on Earnings and Raises Guidance. Why the Stock Is Falling.
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[ad_2]Walmart topped third-quarter estimates and raised fiscal-year guidance. But investors were expecting more from the world’s largest retailer, sending the stock lower in premarket trading.
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Walmart’s stock tumbles after soft guidance offsets earnings beat
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An earlier version of this article incorrectly said that Walmart’s stock has fallen this year. It has gained 20%. The article has been corrected.
Walmart Inc.’s stock tumbled 7.3% early Thursday, after the company offered guidance for 2023 that was below consensus, offsetting a profit and sales beat for the third quarter.
The Bentonville, Ark.-based retail giant
WMT,
+1.27%
posted net income of $453 million, or 17 cents a share, for the third quarter, after a loss of $1.8 billion, or 66 cents a share, in the year-earlier period.Adjusted per-share earnings came to $1.53, ahead of the $1.52 FactSet consensus.
Revenue rose 5.2% to $160.8 billion from $152.8 billion, also ahead of the $159.7 billion FactSet consensus.
See also: Target CEO says consumers are still spending, but sees pressure on discretionary items
Walmart’s U.S. same-store sales rose 4.9%, while e-commerce sales rose 24%. Average transactions were up 3.4%, while the average ticket was up 1.5%.
Chief Executive Doug McMillion said the company saw revenue grow across segments and that it was getting an early start to the holiday season.
At the company’s international segment, growth in sales was led by Walmex and China. E-commerce sales fell 3%, while advertising grew 4%.
At Sam’s Club U.S., sales rose 2.8% to $22.0 billion from $21.4 billion a year ago, led by food and consumables, and healthcare. Same-store sales rose 3.8%, transactions were up 4% and average ticket was down 0.2%.
The company said it was raising its full-year guidance and now expects adjusted EPS of $6.40 to $6.48, but that was below the FactSet consensus of $6.50. It expects sales to grow 5% to 5.5%, while FactSet is expecting growth of 5%.
The stock has gained about 20% in the year to date, while the S&P 500
SPX,
+0.16%
has gained 17%.[ad_2]
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Alstom to Cut Jobs, Scrap Dividend to Accelerate Debt Reduction — Update
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By Adria Calatayud
Alstom plans to cut around 1,500 full-time equivalent positions and scrap its dividend as part of a cost-savings plan to reduce debt and boost profitability.
The French train maker said Wednesday that it is also considering equity and equity-like issuances, as well as a capital increase, among potential options to accelerate its debt-reduction plans.
Alstom’s measures are part of a plan that seeks to secure its mid-term profit and cash-generation targets and come after the company said last month that it burned cash in the six months to September.
The company also said it would overhaul its governance to improve accountability and financial discipline. Its board intends to propose former Safran Chief Executive Philippe Petitcolin as a director and then as chairman, separating the chair role from that of CEO. Henri Poupart-Lafarge will keep the CEO role, the company said.
Alstom said it is targeting a reduction of 2 billion euros ($2.18 billion) in its net debt by March 2025 and that it is considering a range of transactions to accelerate that effort. These include an asset-sale plan that has already been launched, with proceeds of up to EUR1 billion targeted, in addition to equity issues and a capital increase, it said.
As of March 2023, Alstom employed more than 80,000 people, according to its annual report.
Write to Adria Calatayud at adria.calatayud@dowjones.com
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Canadian Solar Stock Sinks on Earnings Miss and Weak Outlook
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[ad_2]Shares of Canadian Solar were falling sharply after the company fell short on quarterly earnings and sales.
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Vodafone Posts Lower Pretax Profit on Previous Business Disposals — Update
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By Najat Kantouar
Vodafone Group has reiterated its full-year guidance as it reported a much lower pretax profit for the first half of fiscal 2024, reflecting adverse foreign-exchange rate movements and business disposals in the prior year.
The U.K. telecommunications company said Tuesday that it expects to report underlying earnings before interest, taxes, depreciation, amortization and lease expenses of 13.3 billion euros ($14.23 billion) for the year ending March 31 compared with EUR14.7 billion in fiscal 2023. Adjusted free cash is seen at around EUR3.3 billion, from EUR4.84 billion.
Pretax profit for the six months ended Sept. 30 was EUR550 million compared with EUR1.69 billion for the same period a year earlier.
Adjusted earnings before interest, taxes, depreciation, amortization and lease expenses–which strips out exceptional and other one-off items–was EUR6.39 billion compared with EUR7.24 billion with organic growth of 0.3% despite a significant increase in energy costs.
Adjusted free cash outflow widened to EUR1.47 billion from EUR513 million, reflecting a fall in adjusted Ebitda after leases in the period, together with lower dividends from associates and joint ventures.
Group revenue fell to EUR21.94 billion from EUR22.93 billion despite service revenue growth in both Europe, excluding Turkey, and Africa by 1.5% and 9.0%, respectively.
The board declared an interim dividend of 4.50 European cents for the period, flat on year.
“During the first half of the year, we have delivered improved revenue growth in nearly all of our markets and have returned to growth in Germany in the second quarter. We have also announced transactions to strengthen our position in the U.K. and exit the challenging Spanish market in order to right-size our portfolio for growth.” Chief Executive Officer Margherita Della Valle said.
Write to Najat Kantouar at najat.kantouar@wsj.com
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Fisker’s stock tanks 10% after EV maker widens loss, revenue falls short
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Fisker Inc. shares plunged around 10% in the after-hours session Monday after the electric-vehicle maker widened its quarterly loss and reported sales that missed the mark, underscoring the difficulties of turning a profit in the EV world.
Fisker
FSR,
+7.03%
lost $91 million, or 27 cents a share, in the third quarter, compared with a loss of $149.3 million, or 49 cents a share, in the year-ago period.Revenue rose to $71.8 million, from $14,000 a year ago and $825,000 in the second quarter.
Analysts polled by FactSet expected Fisker to report a loss of 23 cents a share on sales of $143.1 million.
Fisker kept its guidance for 2023 operating expenses and capital expenditures unchanged, between $565 million and $640 million, but removed language about gross margins.
See also: Tesla’s Cybertruck contract restricts reselling vehicle within the first year
In August, the company said it expected gross margins between 8% and 12% for the year, “provided input costs do not change dramatically.”
The EV maker said the third quarter was its first quarter “with meaningful automotive sales revenue.”
Fisker is often dubbed the “Apple of autos,” and is focused on design and consumer interfaces while contracting out the manufacturing of cars.
The company said it produced 4,725 vehicles and sold 1,097 in the quarter. Deliveries “have accelerated as Fisker begins optimizing last-mile logistics and expanding its delivery infrastructure to achieve further scale effects in Q4 and beyond,” the company said in a statement.
“Over 3,000 vehicles delivered globally to date and hundreds more en route to consumers,” the company said.
On Monday, Fisker said it lowered its Fisker Ocean prices in the U.S. for the first time since it introduced the trim pricing in 2020 and 2021. Fisker also adjusted pricing in Europe and Canada, narrowing the gap between two trims.
Don’t miss: Plug Power’s stock extends losses as investors seek ‘clarity’ about going-concern warning
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Dow Jones slips after strong run as inflation data looms
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U.S. edged lower early Monday ahead of important inflation data in coming days, while gauging the possibility of a shutdown of the federal government at the end of the week.
What’s happening
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The Dow Jones Industrial Average
DJIA
was down 42 points, or 0.1%, at 34,242. -
The S&P 500
SPX
fell 19 points, or 0.4%, to 4,396. -
The Nasdaq Composite
COMP
shed 93 points, or 0.7%, to 13,705.
The Dow, S&P 500 and Nasdaq Composite rose Friday to score back-to-back weekly gains.
What’s driving markets
The S&P 500 has jumped 7.2% over the past two weeks, helped by benchmark borrowing costs
BX:TMUBMUSD10Y
falling swiftly from 16-year highs on hopes that recent softer jobs data means inflation can ease further and the Federal Reserve has thus finished its campaign of interest rate rises.However, after that strong rally a more cautious tone prevails at the start of the new week as the market awaits a U.S. consumer-price index report for October, due Tuesday, that thus has the heft to underpin the latest bull run or bring it to a halt.
Read: Stock-market rally faces make-or-break moment. How to play U.S. October inflation data.
Core CPI growth — which strips out volatile items such as food and energy — is expected to remain steady at 0.3% month-on-month. The producer prices report for October will be published on Wednesday.
See: This week’s October inflation data looms large on Washington’s economic radar
October retail sales data is also on the docket this week, offering further clues to the health of the consumer on Wednesday.
“Most eyes will be focused on the latest inflation numbers, but retail sales and retail earnings will also help set the tone,” Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley, said in emailed comments.
He warned that the market “may be a little more jittery than usual,” following a downgrade of the U.S. credit outlook by Moody’s Investors Service and the possibility of a shutdown of the federal government at the end of the week.
Also see: House Republicans look to pass two-step package to avoid partial government shutdown
Worries over a dysfunctional government contributed to Moody’s Investors Service late Friday cutting its outlook on the U.S. sovereign credit rating to negative from stable.
“This week, we will plunge back into the U.S. political saga, as the government short-term funding deadline is due 17th of November and not much progress has been made to seal a fresh deal,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
“Depending on the new funding resolution – or the lack thereof – we could see the U.S. 10-year yield return above 4.80%,” Ozkardeskaya added.
Investors will also be keeping an eye out for a slew of earnings reports from retailers, including Home Depot Inc.
HD,
-1.24%
on Tuesday, Target Corp.
TGT,
-0.50%
on Wednesday and Walmart Inc.
WMT,
+0.15%
on Thursday. Their comments on the health of the consumer may also play into thinking on the Fed.Indeed, the earnings season in general should have provided fundamental support to investor sentiment, according to analysts. “For Q3 2023, with 92% of S&P 500 companies reporting actual results, 81%…have reported a positive earnings per share surprise and 61%…have reported a positive revenue surprise,” said John Butters, senior earnings analyst at FactSet.
The U.S. federal budget update for October will be published at 2 p.m. Eastern. Fed Governor Lisa Cook was due to deliver opening remarks at a Fed conference Monday morning.
Companies in focus
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Shares of Dow component Boeing Co.
BA,
+4.35%
rose 4% after a flurry of news. Bloomberg reported Monday that the Chinese government is close to lifting a freeze on commercial sales of the U.S. company’s 737 Max aircraft. Elsewhere, long-haul carrier Emirates announced at the Dubai Airshow that it would buy $52 billion of the Boeing’s planes, and SunExpress, a joint venture between Turkish Airlines and Lufthansa
LHA,
+1.08%
said it would purchase 90 737 MAX jets.
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The Dow Jones Industrial Average
