Eudividend @Eudividend: "WEEKLY UPDATE 🔆 2024 WEEK 30..."

Lithuania

Edited

WEEKLY UPDATE 🔆 2024 WEEK 30 July 22 - 28 Dear Investors, Followers and Copiers, The rotation out of tech stocks into more rate sensitive ones has continued last week. On Monday the Fed Chair Powell said that the Central Bank would not wait until inflation hits 2%. Industrial production has increased in the last three months and grew 0.64% in June according to the Fed. It increases the probability of soft – landing of the US economy as the risk of recession decreases. On Tuesday Retail Sales data released showed that June sales were unchanged. Excluding autos, sales rose 0.4%, more than was expected. In June export prices retreated -0.5% over month and import prices were flat. Import prices influence Core PCE, the Fed’s favored measure of inflation. On Thursday the Labor Dept. reported that jobless claims are up by 20K in the week ending July 13. On Thursday the ECB kept interest rates steady (it has cut by 25 b.p. in June). The ECB’s key deposit facility rate is 3.75%. The investment bank Stifel expects market correction by Halloween and S&P500 in the 5000 range by the end of the year. It has a negative view for overextended growth – focused names and prefers defensive sectors like healthcare, Utilities and Consumer Staples. Goldman Sachs said that US stocks will remain largely flat in HY2 as earnings growth decelerates. S&P500 was down 2.4% last week and Dow was flat. $DJ30 , $SPX500 , $NSDQ100 PORTFOLIO NEWS OF THE WEEK 💶 Earnings Last Week These companies within our portfolio reported earnings last week. 🔹Jul 17 $CCI (Crown Castle International) Telecom Tower REIT CCI reported Q2 revenue of $1.58B and FFO of $1.62 per share. 2024 full year outlook remains unchanged. It owns about 40K towers in the US and majority of revenue comes from T, VZ, T-Mobile and DISH. Since April the company has had a new CEO Steven Moskowitz with more than 25 years of experience in the tower industry. 🔹Jul 17 $PLD (Prologis Inc) Logistics REIT PLD reported revenue of $2.01B and core FFO of $1.34 in Q2. The results are slightly better than expected as customer demand is improving. The occupancy rate was 96.4% at the end of Q2. Its dividend yields 3.15% and has had impressive growth in the past, 12.6% per year on average in 2019 – 2023 period. 🔹Jul 18 $TEL.OL (Telenor) Norwegian telecom Telenor (with operations in Nordics and Asia) reported Q2 revenue of NOK 19.94B, 1.4% less than in Q2 last year. Group EBITDA was 3.8% higher than a year ago. Net income was NOK 2.54B. Over 2024 the company expects low – to – mid - single digit growth of Nordic services revenue and medium - single digit growth of Group EBITDA. 🔹Jul 18 $TELIA.ST (Telia Company AB) Swedish telecom Telia reported revenue of SEK 19.4B, 1.5% higher than a year ago. Lower sales of equipment were more than compensated for by the service revenue growth. Adjusted EBITDA increased 5.3% supported by all markets. Net Income of SEK 4.9B was much higher than a year ago due to capital gains of SEK 3.3B from the divestment of Telia Denmark. The company confirmed its 2024 outlook of low - single digit growth of service revenue and mid – single digit growth of Adjusted EBITDA. 🔹Jul 19 $YAR.OL (Yara International) YAR reported almost 11% lower revenue ($3.53B) than a year ago as fertilizer prices are much lower than last year. However, EBITDA more than doubled over a year. Q2 Non – GAAP EPS is $0.43, last year it was a loss. The company has increased production by 12.5% and deliveries by 3.4%. Significant growth in supply (especially from China and India) is taking prices down. According to the company the demand is expected to improve, and the pipeline will be thin in 2024 – 2026. So, prices should increase in the coming years. In Q2 the market has tightened already due to the absence of Chinese exports and supply restrictions in Egypt. YAR optimizes costs and strengthens the balance sheet. Its net debt – to – equity ratio in only 0.49. 📆This Week’s Earnings Reports This week earnings are reported by the following companies: July 22 VZ July 23 ADC, ENG.MC, HIW July 24 ELE.MC, EPRT, NEP, ORA.PA, T July 25 DOC, ENEL.MI, NESTE.HE On July 26 BMY, BAS.DE 🍰 Ex – Dividend Dates This Week The following Ex -Dividend Dates are expected this week. 🍓Jul 22 $ENEL.MI (Enel Power Company) A semiannual dividend of EUR 0.215 per share (in line with previous) will be paid on July 24. The yield is 6.2%. 🍐 Jul 26 $PFE (Pfizer) A quarterly dividend of $0.42 per share (in line with previous) will be paid on Sept 3. The yield is 5.6%. 👉 Portfolio’s Top Stock Movers Last week the following companies belonging to our portfolio had the biggest stock price changes. Winners: TELIA.ST +7.3%, YAR.OL +6.47%, BMY +5.4% Laggards: NEP -6.67%, AQN -5.9%, WBA -4.26% 📈 Jul 15 - 21 Performance Last week the main sectors within the portfolio performed as follows. REITs are up 0.9% Telecoms are up 1.92% Utilities are down 1.9%. The portfolio is up 0.6% for the week.

10 Mentioned Show all

DJ30