Meta's First-Ever Dividend

Plus, Apple's growing china problem.

In partnership with

Today is Friday, February 2, 2024.

The Early Bird Index today is 64.96.

New to this newsletter? Sign up here

Meta's First-Ever Dividend

Facebook parent Meta Platforms (Nasdaq: META) surged by 15.22% in after-hours trading on Thursday after introducing its first dividend with its financial results.

Financials: Meta reported earnings of $5.33 per share in the past quarter and revenue of $40.11 billion; both were better than expected.

Details: Daily Active Users on Facebook grew 6% in the past quarter while overall company revenue jumped 16%. Meta’s revenue guidance for the current quarter was also strong.

Powering the Story: For the first time, Meta is paying a dividend. It will be worth 50 cents per share. The company is also committing more money for stock buybacks to raise the price.

Final Thoughts: Meta, which has doubled in price in the last 12 months, made investors happy with that dividend. However, there are still concerns about a declining ad market and the company’s loss-leading virtual reality unit.

I recently discovered this free shopping hack and had to share it with you.

It’s called Kudos—recognized by CardRates as the “#1 app to multiply your credit card rewards”. Kudos effortlessly doubles your cashback with a single click. It’s simple, secure, and takes the hassle out of choosing the right card at checkout. Be a part of the 150,000+ members who've earned over $100M in credit card rewards with Kudos.

Use code BOOST and get 2000 points after your first eligible purchase —that’s the equivalent of $20.00! 💰


Notable Earnings Today: Exxon Mobil (NYSE: XOM), Chevron (NYSE: CVX), Brookfield Renewable Partners (NYSE: BEP), LyondellBasell (NYSE: LYB), Bristol Myers Squibb (NYSE: BMY), AbbVie (NYSE: ABBV), Cigna (NYSE: CI), Regeneron Pharmaceuticals (Nasdaq: REGN), Piper Sandler (NYSE: PIPR), Saia (Nasdaq: SAIA), WisdomTree (NYSE: WT), Charter Communications (Nasdaq: CHTR), Cboe Global Markets (BATS: CBOE), W.W. Grainger (NYSE: GWW), Aon (NYSE: AON).

Notable IPOs Today: Fractyl Health, Inc. Common Stock (Nasdaq: GUTS).

Notable Equity Crowdfunding Campaigns Ending Today: Harvest Today (Netcapital), Flying Leap Vineyards & Distillery (Mainvest), The Oak Restaurant and Wine Bar (Mainvest), Chili Shack (Honeycomb).

Notable Economic Events Today: Unemployment Rate (8:30 a.m. ET), Average Hourly Earnings (8:30 a.m. ET), Nonfarm Payrolls (8:30 a.m. ET), Labor Force Participation Rate (8:30 a.m. ET), Factory Orders (10:00 a.m. ET), Michigan Consumer Expectations / Sentiment (10:00 a.m. ET).

Apple's Growing China Problem

Apple (Nasdaq: AAPL) dropped by 2.92% in after-hours trading on Thursday after the technology giant posted mixed financial results.

Financials: Apple reported earnings of $2.18 per share in the past quarter and revenue of $119.6 billion; both were better than expected.

Details: Revenue in the services category reached a record.

Powering the Story: Sales in China fell by nearly 13%. And while overall iPhone sales grew, it still missed expectations.

Final Thoughts: Apple, up 23% in the last 12 months, is struggling in China. The iPhone business also looks weak. Will the release of Apple’s new virtual reality unit help next quarter?

Amazon’s Holiday Season Sales

It turns out that the holiday season for Amazon (Nasdaq: AMZN) was successful. The company reported good financials on Thursday and the stock increased by 7.11% in after-hours trading.

Financials: Amazon reported earnings of $1.00 per share in the past quarter and revenue of $170 billion; both were better than expected.

Details: Sales in North America grew 13% while sales in international markets jumped by 17%. Sales for AWS, Amazon’s cloud business, increased by 13%

Final Thoughts: Amazon, up 41% in the last year, had excellent holiday season sales. And with the introduction of the company’s new AI shopping tool, Amazon is targeting a monster 2024.

Toying Around: Mattel Draws Activist Seeking Changes at Toy Maker (The Wall Street Journal)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Want more investing tips? Listen to the podcast.

Show Your Support: Buy Me a Coffee.

Questions or comments? Hit reply to reach out.