Eudividend @Eudividend: "WEEKLY UPDATE 🔆2024 WEEK 31,..."

Lithuania

Edited

WEEKLY UPDATE 🔆2024 WEEK 31, July 29 – Aug 4 Dear Investors, Followers and Copiers, June’s Personal Consumption Expenditure (PCE), the Fed’s preferred inflation reading, was up 2.5% from a year ago (in May it was 2.6%) and increased 0.1% on the month. Core inflation (excludes food and energy) was 2.6% over year. So, inflation remains steady. Personal income rose 0.2% and spending increased 0.3%. Rotation to small – caps has been holding strong last week. HSBC believes that the broadening market rally should continue over the next few months. CIO of Principal Asset Management said CNBC that rotation to small caps has staying power and that broadening earnings will lead to more optimism around small cap sector. Earnings growth from interest rate cuts will help small businesses. Russel2000 is up 12% in one month. Macro view The economy should continue its growth (even though at a slower pace) as unemployment is relatively low and household income is rising. $DJ30 $SPX500 $NSDQ100 PORTFOLIO NEWS OF THE WEEK 💵Earnings Last Week The following companies within our portfolio reported earnings last week. 🔹July 22 $VZ (Verizon) Verizon reported the second quarter’s Revenue of $32.8B, below consensus, and Net Income of $4.7B or $1.09 per share (a year ago it was $1.10 per share). The company reported growth in Wireless and Broadband. In Q2 it added 391K new subscribers to its broadband business taking the total customer base to 11.5M. The free cash flow covers its attractive dividend, yielding 6.64%. 🔹July 23 $ADC (Agree Realty Corp) Retail REIT Agree Realty reported Revenue of $152.6M (in the previous quarter it was $149.5M) and FFO of $1.03 per share, both beating expectations. 🔹July 23 $ENG.MC (Enagas) Gas Utility Enagas reported the first half – year results. Revenue of EUR442.4M was 1.7% lower and EBITDA of EUR386M was 3.7% higher than a year ago. Net Debt was 5.5% lower than at the beginning of the year and stood at EUR3.16B. 🔹July 23 $HIW (Highwoods Properties Inc) Highwoods Properties reported in Q2 Revenue of $205M (-1.2% over year), missing expectations and FFO of $0.98 per share, beating expectations. 🔹July 24 $ELE.MC (Endesa) Endesa reported in the first half year Net Income of EUR0.8B which is 9% lower over year due to extraordinary 1.2% tax on revenue. EBITDA of EUR2.4B is 2.5% lower over year. 🔹July 24 $EPRT (Essential Properties Realty Trust Inc) EPRT reported in Q2 Revenue of $109M, a 26% increase over year and FFO of $0.43. Full year guidance is reiterated. 🔹July 24 $NEP (NextEra Energy Partners LP) NEP posted Q2 Revenue of $360M, 23% increase over year and EPS of $0.66 which missed analysts’ expectations. NEP has distribution yield of 13%. 🔹July 24 $ORA.PA (Orange) Orange's Revenue in Q2 was EUR10B, 0.9% more than a year ago fueled by MEA (Middle East & Africa) and Retail. Net Income of EUR1.1B is up 0.4% over year in HY1. 🔹July 24 $T (AT&T Inc) AT&T reported in Q2 Revenue of $29.8B, 0.4% lower over year, missing analysts’ expectations. Non – GAAP EPS was $0.57 in line with expectations. Lower Business Wireline service and Mobility Equipment revenue were mostly offset by higher Consumer Wireline, Mobility service and Mexico revenues. Free Cash Flow (FCF) was $4.6B (a year ago it was $4.2B). 🔹July 25 $DOC (Healthpeak Properties Inc) Healthpeak Properties posted Q2 Revenue of $696M, +27.5% over year, and FFO of $0.44 per share. The company increased the full year guidance of diluted earnings and FFO. 🔹July 25 $ENEL.MI (Enel Power Company) ENEL reported in HY1 Revenue of EUR38.3B, down 18% from a year ago, and GAAP EPS of EUR0.4. EBITDA of EUR12.9B is 33% higher than a year ago. 🔹July 25 $NESTE.HE (Neste Oyj) Neste Oyj reported Revenue of EUR4.64B, 13% lower than last year. EBITDA is EUR240M versus EUR784M a year ago. The results in Q2 reflect the significantly weaker renewable market and Porvoo refinery major turnaround. Q2 is expected to be the weakest quarter of the year. 🔹July 26 $BMY (Bristol-Myers Squibb Co) Bristol-Myers Squibb posted Q2’s Revenue of $12.2B, 9% higher than last year. The growth was concentrated in the US, primarily due to the Growth and Legacy portfolios. Non – GAAP EPS was $2.07, exceeding expectations. 🔹July 26 $BAS.DE (BASF SE) BASF reported HY1 Revenue of EUR16B, almost 7% lower than a year ago, and non – GAAP EPS of EUR0.93. Stronger earnings came from Chemical business and much weaker from Agricultural Solutions in difficult market environment. 📆This Week’s Earnings Reports July 30 BNL, BXP, PFE, WPC July 31 KRC, RED,MC Aug 1 BCE, CWEN, OHI, VNA.DE Aug 2 ENB, HR 🍰Ex – Dividend Dates This Week The following Ex -Dividend Dates are expected this week. On July 31 ADC, TELIA.ST and on Aug 1 O. 👉Portfolio’s Top Stock Movers Last week the following companies belonging to our portfolio had the biggest stock price changes. Winners: BMY +18.3%, HIW +10.3%, WBA +7.4% Laggards: STLA.MI -12.9%, ARE -5%, VZ -3.7% 📈Performance Last week the main sectors within the portfolio performed as follows. REITs are up 2.24% Telecoms are up 1.2% Utilities are up 0.9%. The portfolio is up 2% for the week.