Key takeaways:

• Microsoft earnings helped the tech giant reach a yearly high

• Share price slumps for Bank of Queensland and Pfizer extended throughout April

As earnings season kicked off in the US, investors took the opportunity to reassess corporate outlooks. Elsewhere, gold rallied amid concerns elevated inflation might be here to stay, with a weaker greenback also aiding the precious metal. On that note, let recap April major movers, and preview a few of the upcoming dividends for May.

Major Movers in April

1. Western Mines Group (ASX: WMG) - up 457.1%

Nickel explorer Western Mines was the standout name throughout April, delighting shareholders with an assortment of updates. It started with the company drilling results at its Mulga Tank Project, where discovery of a significant nickel system propelled the share price higher. Several broad intersections of nickel sulphide mineralisation were picked up, while follow-up aqua regia test work corroborated those findings.

In the second-half of the month, the company also announced a strong intersection during diamond drilling at the same project. Approximately 446 metres of high-MgO adcumulate dunite were intersected in one of the drill holes, with nickel sulphide mineralisation also visible to the naked eye.

2. CXApp (NASDAQ: CXAI) - up 449.9%

Software firm CXApp has had a promising start to life as a publicly-listed company. Dubbed a workplace SuperApp that consolidates workplace tech stack into a single mobile app, the company is still fresh to the market following a special purpose acquisition company (SPAC) merger last month. With no major news moving the CXAI share price, the company exposure to artificial intelligence (AI) likely prompted surging interest in the stock, which comes at a time where publicity has ramped up for the likes of ChatGPT. 

Honourable Mentions:

• 4DMedical (ASX: 4DX) - up 167.2%

• 8I Holdings (ASX: 8IH) - up 150.0%

• Orcoda (ASX: ODA) - up 78.6%

• Besra Gold (ASX: BEZ) - up 76.9%

• SAI.TECH Global Group (NASDAQ: SAI) - up 216.1%

• Inflarx NV (NASDAQ: IFRX) - up 133.2%

• Eyepoint Pharmaceuticals (NASDAQ: EYPT) - up 114.3%

52-Week Highs

1. Wesfarmers (ASX: WES) - up 4.2% in April

Consumer discretionary giant Wesfarmers recorded a series of yearly highs throughout April, with investors seemingly embracing the company diversification. 

Alongside exposure to retail segments such as hardware, homewares, health and beauty, as well as office goods, the company boasts a chemicals, energy, and fertilisers division. This includes the prized Mt Holland Lithium Project, which some analysts have touted as a valuable standalone asset for the company. 

During the month, Wesfarmers also made an offer to acquire skincare clinic operator Silk Laser Australia (ASX: SLA).

2. Transurban (ASX: TCL) - up 6.5% in April

Toll road operator Transurban made news in April following the company latest quarterly report. The company reported a 12.9% increase in average daily traffic compared with the prior corresponding period. That resulted in a record traffic update, led by growth out of the North American market, where traffic grew by 15%. Shareholders would have been delighted to hear that traffic at the company new WestConnex M4-M8 Link surpassed forecasts.

3. Microsoft (NASDAQ: MSFT) - up 5.4% in April

Unveiling its quarterly earnings late in the month, Microsoft managed to beat expectations on both the top and bottom line, helping push the tech giant shares to a 52-week high. Net income rose 9% to US$18.3 billion, while revenue increased 7% to US$52.9 billion. Microsoft Intelligent Cloud division was a key driver behind the result, with revenue up 16%, and the Azure category growing by 27%. However, it was news about the company commitment to invest in AI that caught the market attention, with MSFT shares up more than 7% in the session following its earnings release.

Other Highs:

• Telstra (ASX: TLS) - up 3.1%

• Fisher & Paykel Healthcare (ASX: FPH) - up 1.4%

• Reece (ASX: REH) - up 3.8%

• Washington H Soul Pattinson & Company (ASX: SOL) - up 5.2%

• Stockland (ASX: SGP) - up 10.1%

• Brickworks (ASX: BKW) - up 9.9%

• Webjet (ASX: WEB) - up 5.0%

• Gold Road Resources (ASX: GOR) - up 11.2%

• Starbucks Corporation (NASDAQ: SBUX) - up 8.1%

• Chipotle Mexican Grill (NYSE: CMG) - up 19.0%

• Monster Beverage Corporation (NASDAQ: MNST) - up 2.4%

52-Week Lows

1. Bank of Queensland (ASX: BOQ) - down 10.9% in April

Regional lender Bank of Queensland had a tough month, with the bank announcing a $260 million hit to its earnings. With its net profit down to just $4 million on the back of a $200 million write-down and $60 million in expenses tied to a new risk management program, shareholders also saw the company dividend cut by 10%. 

While the bank sought to placate shareholders' concerns by emphasising the strength of its balance sheet, analysts' suggestions of a peak in net interest margins, as well as prudential issues and compliance matters rattled shareholders.

2. Grange Resources (ASX: GRR) - down 16.0% in April

Iron ore prices are back in focus, with China steel industry looking to curb output. As a key input in the production of steel, iron ore is directly linked to changes in steel supply. The pace of recovery for steel demand has disappointed the local steelmaking industry, weighing on iron ore prices. Furthermore, with China government policy eyeing a reduction in emissions, some analysts have recently begun to question the longer-term outlook for iron ore demand.

3. Pfizer (NYSE: PFE) - down 4.9% in April

Pharmaceutical giant Pfizer reached a new 52-week low in April as the company post-pandemic momentum continues to slide. Investors have largely rotated out of pandemic plays' over the last year, with Pfizer one of two vaccine makers that set a new low last month. Investors may be wondering whether the company has developed a pipeline to replace the windfall that was generated during the pandemic.

Other Lows:

• Brainchip (ASX: BRN) - down 12.5% 

• Oceania Healthcare (ASX: OCA) - down 8.0% 

• Novonix (ASX: NVX) - down 25.0% 

• Zoom Video Communications (NASDAQ: ZM) - down 16.5% 

• US Bancorp (NYSE: USB) - down 9.3% 

• Rivian Auto (NASDAQ: RIVN) - down 18.2% 

• CVS Health (NYSE: CVS) - down 1.7% 

• First Republic Bank (NYSE: FRC) - down 54.5% 

Upcoming Dividends

1. WAM Capital (ASX: WAM) | Ex-dividend: May 15, 2023 | Amount: $0.0775 per share | Franking: 100% | Pay Date: May 26, 2023 

ASX-listed investment company WAM Capital will trade ex-dividend during the middle of May. It will reward investors with a fully-franked dividend of 7.75 cents per share, which is in keeping with the firm dividend payout over the last five years. At the end of March, the company profit reserve, from which it pays out future dividends, was 14.7 cents per share.

2. Costco (NASDAQ: COST) | Ex-dividend: May 4, 2023 | Amount: US$1.02 per share | Franking: 100% | Pay Date: May 19, 2023

Following its latest earnings release, Costco raised its quarterly dividend from US$0.90 per share to US$1.02 a share, an increase of 13%. It also marked the 18th straight year in which the company has hiked its dividend. This latest increase may provide some comfort to shareholders amid concerns about inflation and an economic slowdown, with total comparable sales declining for the first time in years, down 1.1% year-over-year.

3. Goldman Sachs (NYSE: GS) | Ex-dividend: May 31, 2023 | Amount: $2.50 per share | Franking: N/A | Pay Date: Jun 29, 2023

Following a near US$500 million hit associated with the sale of consumer loans, Goldman Sachs' first-quarter revenue fell short of analysts expectations. Nonetheless, management opted to retain the company dividend at US$2.50 per share. With a higher degree of exposure to Wall Street trading than its peers, market volatility also weighed on the bank revenue.

4. Qualcomm (NASDAQ: QCOM) | Ex-dividend: May 31, 2023 | Amount: US$0.80 per share | Franking: N/A | Pay Date: Jun 22, 2023

Semiconductor designer and manufacturer Qualcomm recently announced a quarterly cash dividend of US$0.80 per common share. That figure is an increase compared with the prior quarter, as well as this time last year, when the company paid shareholders a dividend of US$0.75 per share. Qualcomm reports its financials at the start of May, and Wall Street will likely focus on the tech stock outlook.

Other Dividends:

• Bank of Queensland (ASX: BOQ) - $0.20 per share; franking: 100%; ex-div: May 10, 2023; payment: Jun 1, 2023

• Autosports Group (ASX: ASG) - $0.09 per share; franking: 100%; ex-div: May 16, 2023; payment: May 31, 2023

• Microsoft (NASDAQ: MSFT) - US$0.68 dividend; ex-div: May 17, 2023; payment: Jun 8, 2023

• Walmart (NYSE: WMT) - US$0.57 dividend; ex-div: May 4, 2023; payment: May 30, 2023

• Intel (NASDAQ: INTC) - US$0.125 dividend; ex-div: May 4, 2023; payment: Jun 2, 2023

• IBM (NYSE: IBM) - US$1.66 dividend; ex-div: May 9, 2023; payment: Jun 10, 2023

• Target (NYSE: TGT) - US$1.08 dividend; ex-div: May 16, 2023; payment: Jun 10, 2023

• Walgreens Boots (NASDAQ: WBA) - US$0.48 dividend; ex-div: May 18, 2023; payment: Jun 12, 2023

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