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Trending tickers: Disney | Anglo American | Dell | Ulta Beauty | Tesco

The latest investor updates on stocks that are trending on Friday

Disney Brie Larson as Captain Marvel/Carol Danvers in Marvel Studios'
Disney has been struggling at the box offices, as latest Marvel movies underperform. Photo: Laura Radford/Marvel Studios (THA, PictureLux / The Hollywood Archive)

Disney (DIS)

Disney shares were higher in after hours trading after the company announced it will bring back its dividend payments to shareholders.

The media giant said that it will pay a dividend of $0.30 per share for shareholders of record as of 11 December. The payments will be made in January.

“This has been a year of important progress for The Walt Disney Company, defined by a strategic restructuring and a renewed focus on long-term growth,” said Mark Parker, chairman of the Disney board, in a statement.

Read more: LIVE: FTSE and European stocks extend rally ahead of speech by Fed chair Powell

“As Disney moves forward with its key strategic objectives, we are pleased to declare a dividend for our shareholders while we continue to invest in the company’s future and prioritise meaningful value creation.”

The company last paid an $0.88 per share quarterly dividend in January 2020.

This comes as Nelson Peltz's Trian Fund Management is moving ahead with a proxy fight at Disney.

According to a source familiar with the matter, Trian is seeking multiple board seats at Disney.

Anglo American (AAL.L)

Shares in the miner surged to the top of the FTSE 100 as UBS lifted its rating to buy from neutral while keeping its price target unchanged.

“We believe the risk/reward is now attractive with Anglo to benefit from improving copper prices in 2024/25, resilient iron ore & met-coal prices, as well as recovering PGM & rough diamond prices,” UBS analysts said.

In 2024 UBS expects operational performance to gradually improve & more than $1bn of working capital to be released.

Despite the positive outlook, Anglo American shares are still down 40% from the high in January 2023.

Dell (DELL)

Shares in Dell were lower in extended trading after the computer maker reported a 10% drop in revenue.

Fiscal third-quarter sales fell 10% to $22.3 billion, missing analysts’ estimates of $23bn.

The company's client solutions group, which includes corporate and consumer PC sales, posted revenue of $12.28bn for the third quarter, a near 11% fall.

Adjusted earnings were $1.88 a share, well above both the company’s forecast for $1.45 a share.

“We expect revenue to return to growth next year, above our long-term financial framework,” chief financial officer Yvonne McGill said on a conference call after the results were released.

Ulta Beauty (ULTA)

Shares of Ulta Beauty surged by 11% in after-hours trading, as its third-quarter results were slightly better than expected.

The beauty retailer reported adjusted earnings of $5.07 per share, better than the $5 analysts had expected. Revenue of $2.5bn was in line with estimates of $2.47bn.

The company also raised the bottom end of its range for full-year sales and earnings expectations. It said it expects net sales for the fiscal year to come in between $11.10bn and $11.15bn, and comparable sales to range from 5% to 5.5%. Adjusted earnings per share for the year are expected to range from $25.20 to $25.60.

Read more: UK house prices rise for third month in a row amid interest rate cut hopes

“Our insights suggest that consumers are ready to celebrate even as they navigate in an uncertain economic environment,” CEO Dave Kimbell said.

Tesco (TSCO.L)

Shares in Tesco slumped after JP Morgan moved the food retailer from ‘neutral’ to ‘underweight’.

In September, the investment bank had cut its performance rating for Tesco as part of a wider downgrade of the European food retail sector.

"We think current sentiment and valuations make for an unattractive risk reward as investors start to reassess portfolios into 2024, when we expect grocers’ profit/loss and cash-flow dynamics to worsen vs 22-23, triggering downside risk to consensus,” the bank said at the time.

Now, it has downgraded Tesco to ‘underweight’, underpinning its cautious stance to the sector.

Watch: Disney's Iger promises 2026 exit, says ABC not for sale

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