Citigroup Announces 5.7% Increase in Quarterly Dividend
Citigroup Inc. (NYSE: C) plans to increase its quarterly dividend by 5.7% to $0.56 per share, following the Federal Reserve stress test approval. The decrease in stress capital buffer requirement to 4.1% reflects Citigroup’s confidence in its financial standing, signaling a positive outlook for the company and potentially attracting more investors.
GAMMA Investing LLC Sells 52.8% of WESCO International, Inc. Shares
GAMMA Investing LLC recently sold 171 shares of WESCO International, Inc., reducing its position by 52.8% in the 1st quarter. Other institutional investors like KB Financial Partners LLC and Anchor Investment Management LLC have also adjusted their positions in WESCO International. The company’s stock experienced a slight decline of 1.7% on the NYSE, with a market capitalization of $8.01 billion. WESCO International reported quarterly earnings data, falling short of EPS estimates but surpassing revenue projections.
FedEx Shares Surge 15% After Impressive Q4 Financial Results
FedEx shares surged over 15% in after-hours trading following impressive financial results for its fiscal fourth quarter. The company exceeded analysts’ expectations in earnings and revenue, reporting a net income of $1.47 billion and revenue of $22.1 billion. FedEx anticipates revenue growth for fiscal 2025 and aims for a $2.2 billion reduction in costs, part of its DRIVE transformation program.
William Cox Elected to Board of Directors at Brookfield Infrastructure Corporation
William Cox, president of The Waterfront Group, elected to the board of directors at Brookfield Infrastructure Corporation during annual shareholders meeting. Learn more about this prominent global infrastructure company and its newly elected directors.
KB Home Exceeds Q2 Earnings Expectations and Provides Optimistic Guidance for Full Year 2024
KB Home (NYSE: KBH) has exceeded expectations in its second-quarter earnings report, with earnings per share (EPS) coming in at $2.15, surpassing the analyst estimate of $1.80. The revenue for the quarter reached $1.71 billion, higher than the consensus estimate of $1.65 billion. KB Home’s positive performance in Q2 and its optimistic guidance for the full year indicate a strong outlook for the company in the housing market.
Institutional Investors Increase Positions in Knight-Swift Transportation Holdings Inc.
V Square Quantitative Management LLC increased its position in Knight-Swift Transportation Holdings Inc. by 63.8% during the 4th quarter, as disclosed in its recent SEC filing. Other institutional investors like Vanguard Group Inc. and Wellington Management Group LLP also adjusted their holdings in the company. Analysts have set new price targets for Knight-Swift Transportation, with Stephens maintaining an ‘overweight’ rating and Evercore ISI giving an ‘in-line’ rating.
New Jersey Resources Thrives with Infrastructure Enhancements and Growth Prospects
Discover why New Jersey Resources (NYSE:NJR) is a compelling investment opportunity in the utility sector, with promising growth projections, solid return on equity (ROE), and consistent dividend growth. Learn how NJR’s strategic investments in infrastructure enhancements and customer growth position it as a favorable choice for investors.
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RH (Restoration Hardware) Earnings Report Anticipation
RH (Restoration Hardware) is set to release its earnings report after Thursday’s market close. Investors are anticipating potential significant movements in the stock price following the earnings announcement. Analysts are forecasting a loss of ($0.08) per share on revenue of $724.67 million for RH. The company has experienced fluctuations in its earnings trajectory over recent years, with projections showing a decline in 2024 before a gradual recovery in 2025 and 2026. From a technical perspective, RH’s stock is facing downward pressure, trading 32% below its 52-week high.
Stocks Surge in After-Hours Trading with Oracle, Rentokil, and Rubrik Making Headlines
After-hours trading saw significant movements in stocks like Oracle, Rentokil, and Rubrik, indicating potential market shifts and investor interest. Oracle’s tech sector influence, Rentokil’s consumer behavior insights, and Rubrik’s data management importance showcase the dynamic nature of the stock market and the need for informed investment decisions.