Archives April 2025

Major U.S. equities indexes were mixed on the first day of a new trading week that will feature earnings reports from a slew of major corporations.

Investors will also get a look at key labor market and inflation data, which could sway the Federal Reserve’s upcoming policy decisions. President Trump has repeatedly called for additional interest-rate cuts as he approaches his 100th day in office.

After trading in negative territory for much of the day, the S&P 500 gained ground in the afternoon to secure its fifth straight winning session, eking out a minor gain of less than 0.1%. The Dow added 0.3%, while the Nasdaq slipped 0.1%, pressured by tech sector underperformance.

Shares of biopharmaceutical firm AbbVie (ABBV) topped the S&P 500 on Monday, jumping 3.4%. In its first-quarter earnings report released on Friday, AbbVie reported better-than-expected sales and profits. The results were buoyed by strong sales growth for skin treatment Skyrizi and rheumatoid arthritis therapy Rinvoq. The company also boosted its full-year profit guidance but noted that it could see an impact from potential tariffs on the pharmaceutical industry.

After declining late last week in the wake of lackluster quarterly sales results, shares of fellow pharmaceutical company Gilead Sciences (GILD) staged a comeback on Monday, bouncing 3.1% higher. Although softness in Gilead’s COVID-19 and cancer treatments weighed on its performance, higher prices and demand helped drive sales growth for its HIV treatments, while its liver disease portfolio also posted a year-over-year sales gain.

Weyerhaeuser (WY) shares added 3.1% following the timber and forest product specialist’s quarterly earnings release. Sales for the period came in ahead of forecasts, and profits matched expectations. However, both figures declined year over year, weighed down by a decline in export volumes to China.

Shares of Erie Indemnity (ERIE) fell 4.0%, losing the most of any S&P 500 stock. Although the insurance company’s first-quarter revenues topped expectations, earnings per share (EPS) came in below forecasts. Increased costs related to customer service, personnel, and spending on information technology affected Erie’s profitability during the period.

Colgate-Palmolive (CL) shares sank 3.1% on Monday. The maker of toothpaste, soap, and other personal care products posted better-than-expected quarterly sales and profit results. However, the company reduced its full-year guidance, citing potential tariff impacts and the uncertain global economic outlook.

Shares of semiconductor giant Nvidia (NVDA) slipped 2.1% following reports that Chinese rival Huawei Technologies is laying the groundwork to test its own artificial intelligence (AI) chip. According to The Wall Street Journal, Huawei has contacted other Chinese tech companies about evaluating the new chip, which could compete against Nvidia’s AI products.

Meta Platforms (META) is set to report first-quarter results after markets close on Wednesday, and analysts have remained bullish on the Facebook parent amid tariff uncertainty and legal disputes.

Of the 27 analysts covering the stock tracked by Visible Alpha, 25 call Meta a “buy,” while just two have a “hold” rating. The stock has an average price target near $687, a roughly 25% premium to Monday’s closing level of about $550.

Meta, the parent company of Facebook, Instagram and WhatsApp, is expected to report earnings per share of $5.24 on revenue of $41.35 billion, which would represent 11% and 13% growth, respectively, from a year ago.

Morgan Stanley analysts wrote recently that Meta could be hurt by a tariff-fueled pullback in advertising from Chinese companies, but said the firm should be better positioned to withstand that than Google parent Alphabet (GOOGL) or Amazon (AMZN).

Regulatory, Legal Concerns Dominate Recent Headlines

Legal and regulatory disputes have nagged Meta, with the European Union last week fining the tech giant 200 million euros ($227.5 million) for violating its Digital Markets Act. Meta said it plans to appeal the fine.

Also this month, Meta’s antitrust trial began. The Federal Trade Commission is looking to make the company sell or spin off Instagram or WhatsApp, and the agency has said that Meta engaged in an “illegal buy-or-bury scheme to maintain its dominance” by acquiring the “innovative competitors.”

Meta shares are down about 6% in 2025, having lost roughly a quarter of their value since hitting an all-time high of more than $740 in February amid historic market turmoil that has hit the Magnificent Seven companies hard.

UPDATE—April 28, 2025: This article has been updated since it was first published to reflect more recent analyst estimates and share price values.

Microsoft (MSFT) is slated to report fiscal third-quarter results after the market closes Wednesday, with analysts overwhelmingly bullish on the tech giant’s stock.

All of the 20 analysts tracked by Visible Alpha have issued “buy” or equivalent ratings for the stock, which has lost 7% so far in 2025. Their consensus price target slightly above $492 would suggest over 25% upside from Monday’s close at about $391.

Wedbush analysts recently lowered their price target to $475 from $550 amid worries about President Trump’s tariffs, but said they “remain long term bullish” on Microsoft, pointing to its AI potential. “It has become crystal clear to us that the monetization opportunities around deploying AI in the cloud is a transformational opportunity across the industry with Redmond remaining in the driver’s seat,” they said.

Goldman Sachs analysts, who similarly maintained a “buy” rating for Microsoft but lowered their price target to $450 from $500, said the current economic environment has created a “wide range of different outcomes,” but that they believe Microsoft could be “well positioned to capitalize” on AI opportunities.

Morningstar analysts said Microsoft could also be in a stronger position than many other tech companies, because it “has minimal risk exposure to retail, advertising spending, cyclical hardware, or physical supply chains.”

Analysts polled by Visible Alpha on average expect Microsoft to report third-quarter revenue of $68.44 billion, up more than 10% year-over-year, and net income of $23.94 billion, or $3.21 per share, compared to $21.94 billion, or $2.94 per share, a year earlier. Revenue from Microsoft’s Intelligent Cloud segment, which includes its Azure cloud computing platform, is expected to jump 18% to $26.13 billion.

UPDATE—April 28, 2025: This article has been updated since it was first published to reflect more recent analyst estimates and share price values.

Scaling your business internationally offers enormous growth potential, but the prospect of expanding into new markets can be so enticing that it’s easy to lose track of the nuances. Overlooking a critical step, like simple and efficient international payments, may lead to dire consequences.

Noncompliance, payment delays, and failure to meet regulatory requirements can be extremely costly, putting the whole endeavor at risk.

Executing transactions is far more complex than simply transferring funds across borders. This is why companies of all sizes should consider partnering with an established cross border payments specialist when expanding internationally.

“Businesses that operate across borders need peace of mind that payments will be delivered accurately and on time, every time,” says Frederic Simon, Head of Global B2B, and CEO of Convera Europe, S.A. “Reliable international payments, regulatory expertise and cost-effective, tailored FX solutions play a fundamental role in ensuring you succeed at scaling internationally.”

How to choose a strategic payments partner

The choice of B2B payment provider, the integration of fintech innovations and the way these solutions address compliance, security, and efficiency can significantly impact a company’s growth prospects in the global marketplace.

Success in today’s global payments ecosystem goes hand in hand with an expansive global financial network, a commitment to compliance, market insights expertise, currency risk specialists, seamless ERP integrations, and the APIs of a fintech.

Strategic partnerships with fintech providers utilizing the latest technology can significantly enhance a business’s global operations, ensuring greater efficiency, lower transaction costs and higher security, essentially making payments a strategic asset for international growth.

Key factors to consider when evaluating potential cross border payments partners

Reliable international payments play a fundamental role in ensuring you develop strong relationships with customers, suppliers, partners and even employees, which are all vital to the success of a business.

At the same time, companies must ensure that international payment processes don’t eat up resources or impact cash flow.

Here are a few points to keep in mind:

Currency fluctuation

Managing the fluctuations in relative monetary value is one of the trickiest aspects of scaling an international business; however, it can also be an advantage. Partner with an expert who not only monitors daily shifts in the global marketplace but also enacts a strategy that can help you withstand currency fluctuations.

Global network and expertise

Choose a provider with strong international experience and a well-established network of payment channels across multiple regions. Convera, for example, has over 60 global banking partners and offers access to more than 140 currencies across 200 countries and territories.

A reputable provider should have a broad network of banking — and nontraditional financial — partners worldwide and the ability to make efficient global payments seem like simple local payments.

Compliance

Ensure the provider has a solid understanding of global — and local — regulatory standards and offers compliance tools to help protect your business. Licensed partners can manage a comprehensive and pressure-tested global risk and compliance program that holistically addresses potential risks such as money laundering, terrorist financing, fraud, sanctions, and other misconduct.

Platform integration

Your partner’s payment solution should be compatible with a wide range of accounting and ERP platforms. To help you scale overseas, these insights will seamlessly save time and resources when managing remittance, refunds, and cash flow forecasting.

Transparency

Opt for a provider who is upfront about transaction fees, costs, and timelines, ensuring there are no hidden surprises.

Reputation

Research the provider’s track record in the fintech space and seek testimonials or reviews from other businesses that have successfully implemented similar B2B cross-border payment solutions.

Accelerating business growth with international payments

By selecting the right cross border payments partner, businesses can unlock new global revenue streams, optimize transaction approval rates and provide secure, transparent payment solutions to customers and contractors. Whether it’s managing currency fluctuations, ensuring compliance or adhering to regulations, experts in the field can offer businesses a powerful tool to future-proof your global operations and accelerate growth.

When executed with the help of an experienced and innovative partner, these modern transactions also go a long way toward building relationships with customers, suppliers, partners and employees.

“There’s a lot to consider when choosing the right payments partner for your business,” Frederic explains.  “But when you make a leap from traditional banking to an innovative cross-border payment provider — such as Convera — you’re adopting a powerful tool for long-term growth.”

Each cross-border payment represents more than just a transaction. It’s an opportunity to drive growth, reduce costs, and strengthen business relationships — all critical steps in scaling a business internationally.

Make sure to partner with a dedicated and forward-thinking payment provider that can help you navigate the nuances of the global economy and hit your cross-border growth targets.

Want more insights on the topics shaping the future of cross-border payments? Tune in to Converge, with new episodes every Wednesday.

Plus, register for the Daily Market Update to get the latest currency news and FX analysis from our experts directly to your inbox.

Nvidia (NVDA) shares fell on Monday to snap a four-day winning streak following news that China’s Huawei Technologies is developing a rival AI chip.

The Wall Street Journal reported Monday that the Chinese company hopes the new chip could replace some of Nvidia’s high performance products, adding that it has approached several Chinese tech companies about testing the technical feasibility of the chip.

Nvidia shares are up about 25% from their early-April low but have lost around a fifth of their value since the start of the year as of Monday’s close. In recent months the AI favorite’s stock has come under pressure due to concerns over significantly cheaper AI technology coming out of China and a federal crackdown on the export of the company’s popular H20 chips to China.

Below, we take a closer look at Nvidia’s chart and apply technical analysis to identify key price levels worth watching out for.

Falling Wedge in Focus

Nvidia shares continue to oscillate within a falling wedge after a bear trap emerged on the chart earlier this month, a trading event that lures investors to sell upon a breach of major support—the pattern’s lower trendline in this case—before the price makes a sudden move higher.

More recently, the price has pushed up against the pattern’s upper trendline, potentially paving the way for a bullish breakout. Meanwhile, the relative strength index (RSI) has crossed back above the 50 threshold, indicating improving price momentum.

Let’s identify two key overhead areas on Nvidia’s chart that could come into play and also locate crucial support levels worth monitoring.

Key Overhead Areas to Watch

A breakout above the falling wedge pattern’s upper trendline could initially see the shares test the $115 level. This area may provide overhead resistance near the April swing high, a location that also aligns with several retracements on the chart stretching back to last September.

Buying above this area may trigger a move up to around $130. Investors who have bought shares at lower prices could look for exit points in this region near last year’s prominent August peak and December trough. Interestingly, this location also sits just below a bars pattern projected upside target that takes the stock’s move higher following a prior bear trap on the chart and overlays it from this month’s low. 

Crucial Support Levels Worth Monitoring

A move lower could lead to a retest of support at $96. Investors may look for buying opportunities at this level near last week’s swing low and two notable peaks that formed on the chart in March last year.

Finally, a decisive breakdown below the falling wedge pattern’s lower trendline could see Nvidia shares revisit lower support around $87. This area on the chart may provide support near the bear trap low and lines up with a range of price action between March and May last year.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.

Luke’s bull case today … why he’s pounding the table on “physical AI” stocks … bond spreads are looking healthier … are profit margins looking to expand?

So… has the bottom been set? Is the trade war panic fading? Are stocks gearing up to soar into summer?

We think so.

So says our hypergrowth expert Luke Lango.

In his Daily Notes in Early Stage Investor last Thursday and Friday, Luke profiled the enormous rally the market has enjoyed in recent days. His bottom line is simple…

It’s time to get bullish on stocks again.

Let’s pick up Luke’s analysis as he discusses the ongoing trade war:

Just three weeks ago, the average effective U.S. tariff rate had surged to 27% post–Liberation Day.

Now? That number is trending toward 20%, thanks to a flurry of exemptions and softening language out of D.C.

Most recently, Trump is now considering exempting automakers from Chinese auto tariffs — a move that would meaningfully pull the effective tariff rate lower. And that’s just the beginning.

Here’s our base-case tariff forecast:

• May: Trade deals with allies (EU, Japan, India) take tariff rates to ~17–18%
• June/July: China deal signed, driving rates down to ~10%

That’s the magic number. Wall Street loves 10% tariffs. It’s enough to posture, but not enough to disrupt. If we hit that level this summer, we believe stocks will be off to the races.

To Luke’s point, in its research video “What Tariffs Could Mean for Markets”, Morgan Stanley analysts said that a 10% tariff would have only a modest economic impact. They suggest that a broad 10% levy would shave only about 2½ percentage points off earnings per share for affected companies.

Morgan Stanley also noted that a 10% tariff translates into roughly a 3–4% price increase for end-products, which they described as “not terrible.”

Luke’s bullishness extends beyond a positive conclusion of the trade war

A happy ending to the tariff drama is just one half of what’s needed to push the market back to all-time highs and beyond. Luke argues that we also need rate cuts from the Federal Reserve.

Last week, Luke highlighted Cleveland Fed President Beth Hammack, who said the Fed could cut rates in June if it sees clear direction in the data.

Luke anticipates that data will come in favorably, supporting that June cut.

Here’s his bottom line:

We see the Fed launching a rate-cutting cycle this summer, with multiple cuts into year-end.

Between lower tariffs and lower rates, the macro environment is shifting back toward one that favors growth assets, risk-taking, and stock market strength…

We think it’s becoming increasingly clear:

• The worst of the trade war shock is over
• A rate-cutting cycle is approaching
• Technicals are lining up for a major breakout

The convergence of these bullish factors leads us to one conclusion:

Stocks are ready to soar.

Luke is especially bullish on one corner of the market in particular – physical AI stocks

Think robots and the cutting-edge technologies that are the direct beneficiaries of President Trump’s massive push for the reshoring of manufacturing.

Here’s Luke:

You can’t rebuild American manufacturing without robots.

In America, there’s an abundance of “not enough.” We have: not enough workers, not enough skills, not enough cheap labor. The math is clear — automation must fill the gap.

That’s why the next great fortune won’t come from chatbots or cloud software. It will come from physical AI—the robotic arms, vision sensors, and autonomous movers that transform concrete slabs into fully automated factories.

This Thursday at 7:00 PM Eastern, Luke is holding his 2025 Summer Panic Summit. It will dive into why we’re on the cusp of a looming “$7 trillion summer buying panic” stampede back into the market. Luke believes this buying frenzy is going to send a tiny group of these physical AI, small-cap AI leaders soaring.

From Luke:

Today, roughly $7 trillion is parked in money-market funds, earning about 4.5% while investors wait for better opportunities to pop up. 

In other words, we’re all waiting for a catalyst that could be the pin that pops the “cash bubble,” unleashing a violent rotation back into stocks — what we’re calling the 2025 Summer Panic

In fact, I’m so confident that this big event scheduled to take place very soon – May 7 to be exact – that it is virtually guaranteed to trigger huge moves in the market.

I’ll bring you more on this tomorrow. But to instantly sign up for the event with one-click, just click here.

Circling back to Luke’s general prediction for the market based on the trade war and the Fed, here’s his takeaway:

We think stocks are on the launching pad for over 20% gains over the next year. Let’s make sure we make the most of this opportunity!

There’s also good news on the bond front

Stocks soar and crash for all sorts of reasons, but bonds are simpler.

If you plan to hold a bond to maturity, the primary concern is straightforward: Will you get your money back?

That makes the bond market a more grounded indicator of economic stress.

Earlier this month, the bond market was flashing major warning signs, but in the last few weeks, it’s begun to find its footing.

We can see this by looking at the spread between high-yield (or “junk”) bonds and so called “risk free” U.S. Treasurys. This difference in yields – known as the high-yield credit spread – tends to widen when investors grow concerned about the economy.

The spread widens because when conditions get shaky, riskier companies are more likely to default, and investors demand extra compensation to lend to them.

Below, we’ll look at the ICE BofA U.S. High Yield Index spread. This tracks the relationship between junk and Treasuries.

Notice how it soared between February and its peak on Monday April 7 (a reading of 4.61). But since then, it’s pulled back sharply.

The latest reading, as of last Friday, was 3.67 – a significant pullback.

This is welcome, bullish news.

It’s showing us that bond investors – often referred to as “the smart money” – are finding their confidence again.

To be clear, it doesn’t guarantee a happy ending, or that we’re through the worst of the volatility, but it’s encouraging.

For one final piece of good news, are profit margins set to expand?

FactSet is the go-to earnings data analytics group used by the pros. In its most recent weekly update from last Friday, it asked the question on many investors’ minds today:

Given continuing concerns in the market about tariffs and higher costs, what is the S&P 500 reporting for a net profit margin for Q1?

It turns out the blended net profit margin (what’s been reported to far and what is forecasted for the remainder of earnings season) for the S&P is 12.4%. While that’s below Q4 2024’s net profit margin, it’s above where we were one year ago, and also besting the 5-year average (11.7%).

More surprising is how forecasts are shaping up for the rest of 2025. Here’s FactSet:

It is interesting to note that analysts believe net profit margins for the S&P 500 will improve through the rest of 2025.

As of [last Friday], the estimated net profit margins for Q2 2025 through Q4 2025 are 12.5%, 12.9%, and 13.0%, respectively.

Source: FactSet

Of course, the wildcard in such forecasts remains the trade war.

But coming full circle, if Luke is right, we’re within weeks of the drama being in our rearview mirror.

Given his encouraging market analysis, as well as the positive news on bonds and margins, here’s Luke with some bullishness to take us out today:

The clouds are parting. Momentum is shifting. The data is improving. And the charts are waking up.

We think stocks have bottomed — and we’re very bullish heading into the summer.

Have a good evening,

Jeff Remsburg

Written by Steven Dooley, Head of Market Insights, and Shier Lee Lim, Lead FX and Macro Strategist

USD lower ahead of corporate earnings deluge

The US dollar was lower on Monday with markets on edge ahead of the busiest week of corporate earnings from US companies. The Australian dollar gained strongly.

More than a third of the S&P 500 will report this week including four of the so-called “Magnificent Seven” – Microsoft, Meta, Amazon and Apple.

Financial markets will not be necessarily focused on the results. Instead, the company forecasts, including the likely impact of tariffs, will be key.

The US dollar weakened ahead of the results with the biggest gains seen in GBP/USD, up 0.9%.

The AUD/USD climbed 0.5% as the pair returned to four-month highs. The NZD/USD gained 0.2%. The USD/SGD fell 0.5% while USD/CNH lost 0.2%.

ECB’s Kazaks warns against rate cuts

According to Bloomberg, Martins Kazaks, a member of the Governing Council, stated that the ECB should only cut rates to an “accommodation” level if the economic outlook significantly worsens. 

Kazaks stated over the weekend in Washington, where he attended the IMF’s spring meetings, that while US tariff policies may slow down inflation and even trigger a recession, there is little indication of what will happen next and reducing too much would waste policy space. 

“The question is more about whether we will have to go much lower below 2.00%, but we are at 2.25%,” he stated.  “If it’s necessary, we’ll do it, but in order to do so and further reduce inflation, the state of the economy would need to deteriorate.”

EUR/USD has recently corrected from short-term highs. From here, the 21-day EMA support of 1.1219 will be crucial for EUR/USD.

In EUR/SGD, 21-day EMA support of 1.4827 will be key support for EUR/SGD.

AUD/EUR next key resistance is its 21-day EMA of 0.5640, and 50-day EMA of 0.5746 next.

US made no reference to FX levels, USD/JPY to rise? 

According to Atsushi Mimura, Japan’s vice finance minister for international affairs, the US made no reference to FX levels during the bilateral meeting in Washington.

“As we have said, the U.S. side did not touch upon exchange-rate targets in the finance minister talks.”

Looking at the chart, there’s a stark dichotomy between the USD/JPY and the US 10-year bond yield.

USD/JPY is climbing back up to its key 21-day EMA of 144.51, and the next key resistance will be 50-day EMA of 147.12, where USD buyers may look take advantage now.

Aussie back near four-month highs

Table: seven-day rolling currency trends and trading ranges  

Key global risk events

Calendar: 29 April – 3 May

Have a question? [email protected]

*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.

Updated on April 28th, 2025 by Bob Ciura

At Sure Dividend, we recommend investors focus on the best dividend stocks that can generate the highest returns over time.

When it comes to dividends, investors should also be focused on dividend safety. There have been many stocks with high dividend yields that eventually cut or eliminate their dividends when business conditions deteriorate.

Dividend cuts should be avoided whenever possible.

We have created a unique metric called Dividend Risk Score, which measures a stock’s ability to maintain its dividend during recessions, and increase the dividend over time.

With this in mind, we’ve compiled a free list of the 50 safest dividend stocks based on their payout ratios and Dividend Risk Score, which you can download below:

 

The safest dividend growth stocks are high-quality businesses that can maintain their dividends, even during recessions. But investing in poor businesses that cut their dividends is a recipe for under-performance over time.

That’s why, in this article, we have analyzed the 10 safest dividend stocks from our Sure Analysis Research Database with the safest dividends based on our Dividend Risk Score rating system.

The safest dividend stocks below all have Dividend Risk Scores of ‘A’ (our top rating), and have the lowest payout ratios. The 10 safest dividend stocks also have dividend yields of at least 1%, to make them appealing for income investors.

Table of Contents

Why The Payout Ratio Matters

The dividend payout ratio is simply a company’s annual per-share dividend, divided by the company’s annual earnings-per-share. It is a measure of the level of earnings a company distributes to its shareholders via dividends.

The payout ratio is a valuable investing metric because it differentiates the safest dividend stocks that have low payout ratios that room for dividend growth, from companies with high payout ratios whose dividends may not be sustainable.

Indeed, research has shown that companies with higher dividend growth have outperformed companies with lower dividend growth or no dividend growth.

In research performed by Ned Davis and Hartford Funds, it was found that dividend growers and initiators delivered total returns of 10.24% per year from 1973 through 2024, better than the equal-weighted S&P 500’s performance of 7.65% per year.

Interestingly, the dividend growers and initiators analyzed in this study generated outperformance with less volatility – a rarity and a contradiction to what modern academic financial theory tells us.

A summary of this research can be found below.

Source: Hartford Funds – The Power Of Dividends

Outperformance of 2.47% annually might not seem like a game-changer, but it certainly is thanks to the wonder that is compound interest.

Using data from the same piece of research, investors who chose to invest exclusively in dividend growers and initiators turned $100 into $15,874 from 1973-2024. During the same time period, the S&P 500 index turned $100 into $4,618.

Source: Hartford Funds – The Power Of Dividends

Stocks that did not pay dividends could not match the performance of all types of dividend payers, turning $100 into $899 from 1973-2024. Dividend cutters and eliminators fared even worse, turning $100 into just $63–meaning these stocks actually lost investors money.

As a result, investors looking for stocks with better dividend growth (and long-term return potential) could consider these 10 safest dividend stocks with low payout ratios and Dividend Risk Scores of ‘A’.

Safest Dividend Stock #10: Oshkosh Corp. (OSK)

Oshkosh Corporation is a leader in designing, manufacturing, and servicing a broad range of access equipment, commercial, fire & emergency, military and specialty vehicles and vehicle bodies.

Brands under the corporate umbrella include Oshkosh, JLG, Pierce, McNeilus, Jerr-Dan, Frontline, CON-E-CO, London and IMT.

The company operates in three segments – Access Equipment, Defense, and Vocational – with products offered in over 150 countries.

On January 30th, 2025, Oshkosh reported fourth quarter 2024 results. For the quarter, the company recorded sales of $2.62 billion, up 6% compared to Q4 2023. Sales were mixed across the company’s segments, with Access, and Vocational seeing increases of 0.6% and 19.8%, respectively, while Defense declined by 0.3%.

Adjusted net income equaled $169.3 million, or $2.58 per share, compared to adjusted net income of $169.4 million, or $2.56 per share in Q4 2023.

Click here to download our most recent Sure Analysis report on OSK (preview of page 1 of 3 shown below):

Safest Dividend Stock #9: Raymond James Financial (RJF)

Raymond James Financial (RJF) is a financial holding company whose major operations include wealth management, investment banking, asset management, and commercial banking. Approximately 90% of the company’s revenue is from the U.S., and 74% of fiscal 2024 revenue is from the company’s Private Client Group (wealth management) segment.

Other segments are Capital Markets (11% of revenues), Asset Management (8%), and Banking (7%). The company has more than 19,000 employees and supports 8,900 financial advisors across the United States, Canada, and the United Kingdom.

On January 29th, 2025, Raymond James Financial released results for its first quarter of fiscal year 2025 for the period ending December 31st, 2024.

For the quarter, the company reported a net income of $599 million, which is flat compared to the preceding quarter’s net income of $601 million, and a 21% increase compared to the same quarter in the previous year.

Earnings per diluted share for the quarter were $2.86, the same as in the preceding quarter, and up from $2.32 in the same quarter of the previous year. Strong performances in investment banking and brokerage contributed positively to the Capital Markets segment’s outcomes.

Click here to download our most recent Sure Analysis report on RJF (preview of page 1 of 3 shown below):

Safest Dividend Stock #8: Carlisle Companies (CSL)

Carlisle Companies is a diversified company that is active in a wide array of niche markets.

The segments in which the company produces and sells products include construction materials (roofing, waterproofing, etc.), interconnecting technologies (wires, cables, etc.), fluid technologies, and brake & friction.

Carlisle Companies reported its fourth quarter earnings results on February 4. The company reported revenues of $1.1 billion for the quarter, which was flat year-over-year. A weaker housing market was a bit of a headwind during the period.

Carlisle Companies generated earnings-per-share of $4.47 during the fourth quarter, beating the consensus analyst estimate slightly, by $0.05. Carlisle Companies’ earnings-per-share were up a solid 7% from the previous year’s level, as margin improvements made profits rise substantially despite revenues being flat.

Cost-saving measures were a positive factor, and share repurchases also had a positive impact on the company’s earnings-per-share growth.

Click here to download our most recent Sure Analysis report on CSL (preview of page 1 of 3 shown below):

Safest Dividend Stock #7: Chubb Ltd. (CB)

Chubb Ltd is a global provider of insurance and reinsurance services headquartered in Zurich, Switzerland. The company provides insurance services including property & casualty insurance, accident & health insurance, life insurance, and reinsurance.

For its fiscal fourth quarter, Chubb Ltd reported net earned premiums of $12.6 billion, which was 6% more than the net earned premiums that Chubb generated during the previous year’s quarter. Net written premiums were up 7% year-over-year in the company’s Global P&C business unit, while other business units such as Life saw solid growth as well.

Chubb generated net investment income of $1.56 billion during the quarter, or $1.69 billion after adjustments, which was up by 14% compared to the previous year’s period.

Chubb generated earnings-per-share of $2.45 during the fourth quarter, which was below the previous quarter’s level. Chubb’s below-average profitability during the quarter can be explained by higher catastrophe losses, which more than doubled from one year earlier, due to Hurricane Milton primarily.

Click here to download our most recent Sure Analysis report on CB (preview of page 1 of 3 shown below):

Safest Dividend Stock #6: Somerset Trust Holding Company (SOME)

Somerset Trust Holding Company is a regional bank with 44 branches across Pennsylvania, Maryland, and Virginia. The company provides a full suite of financial services, including personal and business banking, wealth management, loans, and investments.

At the end of last year, Somerset Trust reported total deposits of $1.88 billion and net loans of $1.50 billion.

On March 18th, 2025, Somerset posted its full-year results for the period ending December 31st, 2024. For the period, total interest and dividend income income grew 17% to $123.2 million.

Total interest expenses grew 67% to $42.7 million. Net interest income grew 4% to $79.9 million. Total other income (such as trust department income and service fees) increased 8% to $17.8 million.

Click here to download our most recent Sure Analysis report on SOME (preview of page 1 of 3 shown below):

Safest Dividend Stock #5: Ameriprise Financial (AMP)

Ameriprise Financial is an investment management company with more than $1.5 trillion in assets under management. The company’s operating segments include Advice & Wealth Management, Asset Management, and Retirement & Protection Solutions (insurance products).

On January 29th, 2025, Ameriprise Financial announced fourth quarter and full year earnings results for the period ending December 31st, 2024. For the quarter, revenue grew 17.7% to $4.65 billion, which was $170 million more than expected.

Adjusted earnings-per-share of $9.36 compared very favorably to the prior year’s result of $7.75 and was $0.31 above estimates. For the year, revenue grew 11% to $17.1 billion while adjusted earnings-per-share of $35.07 compared to $29.58 in 2023.

Total assets under management, or AUMs, grew 10% to $1.5 trillion due to strong client net inflows and market appreciation. Client assets for the Advice & Wealth Management increased 14% to $1.029 trillion.

Click here to download our most recent Sure Analysis report on AMP (preview of page 1 of 3 shown below):

Safest Dividend Stock #4: Farmers & Merchants Bancorp (FMCB)

Farmers & Merchants Bancorp is a locally owned and operated community bank with 32 locations in California. Due to its small market cap and its low liquidity, it passes under the radar of most investors.

F&M Bank has paid uninterrupted dividends for 88 consecutive years and has raised its dividend for 59 consecutive years.

In late January, F&M Bank reported (1/23/25) financial results for the fourth quarter of fiscal 2024. The bank grew its earnings-per-share 9% over the prior year’s quarter, from $28.55 to a new all-time high of $31.11. Loans and deposits grew 1% each.

Net interest income dipped -3% due to a contraction of net interest margin from 4.30% to 4.05% amid higher deposit costs. Management remains optimistic for the foreseeable future, as the bank enjoys one of the widest net interest margins in its sector.

We reiterate that F&M Bank is one of the most resilient banks during downturns, such as the pandemic, a potential recession or the financial turmoil caused by the collapse of Silicon Valley Bank, Credit Suisse and First Republic.

Click here to download our most recent Sure Analysis report on FMCB (preview of page 1 of 3 shown below):

Safest Dividend Stock #3: Griffon Corp. (GFF)

Griffon is a diversified consumer and building products company founded in 1959. Today, it sells garage and rolling steel doors, tools, home storage, ceiling fans, and outdoor lifestyle products.

The company operates in two segments: Home and Building Products (HBP, ~60% of revenue) and Consumer and Professional Products (CPP, ~40% of revenue).

Key brands are Clopay Ideal Door, Holmes, Cornell, Cookson, Ames, True Temper, Jackson, Razorback, Garant, Cyclone, Closetmaid, Hills, Southern Patio, Northcote, Kelkay, La Hacienda, Hunter, and Casblanca. Total revenue was $2,624M in fiscal year 2024.

Griffon reported Q1 FY 2025 results on February 5th, 2025. Revenue decreased 2% to $632.4M from $643.2M, while diluted earnings per share rose to $1.39 from $1.07 on a year-over-year basis.

The top line was flat because of increased residential but lower commercial demand. Some international markets were weaker. Earnings per share increased because of Global Sourcing Program and higher margins.

Click here to download our most recent Sure Analysis report on GFF (preview of page 1 of 3 shown below):

Safest Dividend Stock #2: Unity Bancorp (UNTY)

Unity Bancorp, Inc. is a full-service commercial bank that mostly serves businesses and consumers in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union, and Warren counties in New Jersey.

To a lesser extent, Unity Bank reaches into the New York City metropolitan area and Northampton County in Pennsylvania with its banking locations and online services. As of March 31st, UNTY had $2.8 billion in assets.

On April 11th, the community bank released its first-quarter earnings report for the period ended March 31st, 2025. UNTY’s net interest income climbed 14.3% higher year-over-year to $27.3 million during the quarter.

The company’s net interest income growth was the combination of an 8.8% uptick in total loan balances and a 37-basis point expansion in net interest margin to 4.46% in the quarter. UNTY’s diluted EPS surged 21.5% over the year-ago period to $1.13 for the quarter. That was in-line with the analyst consensus during the quarter.

In late February, UNTY also announced a 7.7% hike in its quarterly dividend per share to $0.14, marking its 12th consecutive year of dividend growth.

Click here to download our most recent Sure Analysis report on UNTY (preview of page 1 of 3 shown below):

Safest Dividend Stock #1: Matson, Inc. (MATX)

Matson, based in Honolulu, Hawaii, is a leading provider of ocean transportation and logistics services, operating via two primary segments: Ocean Transportation and Logistics.

The Ocean Transportation segment plays a critical role in serving the domestic non-contiguous markets of Hawaii, Alaska, Guam, and other island economies in Micronesia and the South Pacific.

The segment also includes expedited services from China to Southern California and a large terminal network via Matson’s 35% ownership stake in SSA Terminals.

The Logistics segment extends Matson’s transportation reach throughout North America and Asia, offering a range of services such as intermodal transportation brokerage, freight forwarding, and warehousing.

On February 25th, 2025, Matson posted its Q4 and full-year results for the period ending December 31st, 2024. Quarterly revenues grew by 12.8% to $890.3 million. Ocean Transportation revenues rose by 16.0% to $742 million mainly due to significantly higher freight rates and volume in China.

Logistics revenue fell 0.7% to $148 million mainly due to lower revenue in transportation brokerage, partially offset by higher revenue in supply chain management. EPS was $3.80 compared to $1.78 last year. For the year, EPS was $14.14.

Click here to download our most recent Sure Analysis report on MATX (preview of page 1 of 3 shown below):

Additional Reading

Investors looking for more of the safest dividend stocks can find additional reading below:

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David Booth, the founder and Chairman of Dimensional Funds, on how he and a group of future Nobel Prize winners came together at the University of Chicago in the late 1960’s and 70’s and revolutionized the investing world by applying data, for the first time, to quantify the real performance of the stock market, and to shine a glaring spotlight on the way Wall Street used to work. In the process, they created Dimensional Funds—one of the most successful investing firms in history.

Links for Show Notes:

https://www.dimensional.com/us-en/who-we-are/about-us
https://www.youtube.com/watch?v=T98825bzcKw