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Recent Articles
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McDonald’s Speaks of Cautious Consumer But Traction with $5 Meal Deal
Jul 29, 2024
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McDonald’s second quarter results weren’t great. Comparable store sales and consolidated operating income fell during the period, but McDonald’s lapped a very strong second quarter of 2023, which included a double-digit comp. Diluted earnings per share also declined at a mid-single-digit pace. That said, however, McDonald’s $5 meal deal is gaining traction, and we think it is part of the solution for lower guest counts driven by its recent strategic pricing actions. McDonald’s hasn’t been a strong performer in the Best Ideas Newsletter portfolio of late, but we remain optimistic on its prospects in the current inflationary environment. Shares yield 2.6%.
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3M Looks to a Brighter Future, Shares Rally 20%+
Jul 28, 2024
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Image Source: 3M’s second quarter results were better than feared.
3M’s stock rallied more than 20% following its second quarter earnings report, as the firm works to put settlements for faulty earplugs and PFAS pollution as well as its spin-off of Solventum behind it. With most of its troubles in the rear-view mirror, 3M can now focus more of its efforts on organic performance, which was solid in the second quarter, despite some portfolio/geographic shifts in its ‘Consumer’ division. 3M’s free cash flow conversion remains robust, and its net debt stood at a manageable ~$3 billion at the end of the quarter. Shares of 3M yield 2.2% at the time of this writing.
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Dividend Increases/Decreases for the Week of July 26
Jul 26, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Honeywell Adjusts Full Year 2024 Guidance on Margin Pressures
Jul 25, 2024
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Image: Honeywell’s shares have traded sideways for the past 12-18 months.
Honeywell is a fantastic company, and we continue to like shares in the Dividend Growth Newsletter portfolio. Second quarter results were better than expected, but the quarterly beat was overshadowed by lowered adjusted earnings per share and free cash flow guidance for 2024. Though the news wasn’t great, we’re not making any changes to our newsletter portfolios at this time. Shares of Honeywell yield 2% at the time of this writing.
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