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The recent collapse of Silicon Valley Bank and Signature Bank has made investors nervous and has led to massive bank runs, the fall of many banking stocks, and increased market volatility.
FCF US Quality ETF (TTAC) holding Ovintiv generated record free cash flow in what president and CEO Brendan McCracken called “a milestone year” for the Denver-based hydrocarbon exploration and production company. The company generated $2.3 billion of free cash flow in 2022, up from the $1.7 billion generated in 2021.
After the sudden collapse of Silicon Valley Bank and now Signature Bank, things are looking a little bit rough for the banking sector.
Occidental Petroleum announced a $3 billion share repurchase program thanks to its “record free cash flow” last year, according to President and CEO Vicki Hollub.
Many analysts believed that the Federal Reserve was nearing the end of its rate hike cycle, as inflation was coming down and the U.S. central bank's latest interest rate increase of 25 basis points was far less aggressive than previous rate hikes.
United Parcel Service (UPS) is flush with free cash flow. The shipping, receiving, and supply chain management company reported that it generated $9 billion of free cash flow in 2022, which handily covered the $5.1 billion it distributed in dividends.
Sylvamo (NYSE: SLVM), aka “the world's paper company,” delivered strong free cash flow “despite global supply chain challenges and unprecedented input cost inflation,” said Chairman and CEO Jean-Michel Ribiéras during the company's earnings call.
IBM's free cash flow is on the rise. The tech giant reported that it generated $9.3 billion of free cash flow in 2022, an increase of $2.8 billion from 2021.
ExxonMobil (XOM) announced in its full-year 2022 results that its annual free cash flow reached $62.1 billion in 2022, an increase of nearly $23 billion, or 64%, from 2021. Meanwhile, ExxonMobil's cash flow from operating activities was nearly $77 billion for the year, up nearly $29 billion, or 60%, from 2021.
Stocks tumbled on Monday as investors wait to see how several big tech firms fared for the final quarter of 2022. This week, Facebook parent Meta Platforms, Apple, Amazon, and Google parent Alphabet are set to report their quarterly earnings.