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Recent Articles
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Fastenal’s Revenue Beat a Positive Read Through to the Broader Economy
Jul 12, 2024
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Image: Fastenal’s second quarter results were a positive read through to the broader economy.
On July 12, Fastenal Company reported mixed second quarter results where revenue modestly exceeded the consensus forecast, while the company’s GAAP earnings per share was in-line. For the first six months of 2024, net sales advanced 1.8%, while operating income fell 1.4% and net income dropped 0.5%. Diluted earnings per share of $1.03 for the first six months of the year was 0.7% lower than the mark achieved over the same period a year ago. Fastenal’s better-than-expected revenue performance is a positive read through to the broader economy.
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JPMorgan Chase’s Return on Capital Shines in Second Quarter
Jul 12, 2024
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Image Source: Hakan Dahlstrom.
On July 12, JPMorgan Chase reported second quarter results that beat expectations on the top line, but came up a bit short on the bottom line. JPMorgan is an important bellwether for the global economy, and its second quarter results spoke of continued strength and high returns on capital. We include Financial Select SPDR in the Best Ideas Newsletter portfolio to capture diversification benefits from the largest financial institutions. Shares of JPM yield 2.2% at the time of this writing.
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Dividend Increases/Decreases for the Week of July 12
Jul 12, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Delta Air Lines Speaks of Industry Fare Pressures
Jul 11, 2024
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Image Source: Colin Brown.
Delta Air Lines reported disappointing second-quarter results on July 11 with both revenue and non-GAAP earnings per share coming in lower than expected. The company put up record June quarter revenue, which reached $15.4 billion on an adjusted operating basis, up 5.4% from the same period a year ago, but the Street was looking for more. Earnings per share of $2.36 also missed the consensus forecast. Though airlines have largely rationalized capacity in recent years, fare pressures are starting to weigh on performance. We maintain our view that airlines are not long-term investments given their leverage to a cyclical economy and volatile jet fuel prices.
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