Find out what types of assets make the best planned gifts. Learn about gifts of cash, securities and property.
Bob and Mary Are Giving Smarter and Achieving Their Dreams...Find Out How You Can Too!
Bob and Mary first met at Two-Bit Flicks, a 25-cent movie night held on Fridays in Brighton Lecture Hall. When the spring formal hosted by the women's dorm came around, Mary asked Bob to go with her. It was their first "official" date.
The rest, as the saying goes, is history. Or in Bob and Mary's case, it is natural history. That's because Emporia State also introduced them to a lifelong passion for the natural sciences.
Bob and Mary feel Emporia State was the catalyst for the life they've built together. Mary became a science educator for 6th, 7th, 8th and 9th grade students. Bob founded and served as director of the Great Plains Nature Center and became a renowned nature photographer.
Now they want others to have the same opportunity they did. They want to help students come to ESU and discover a passion they can follow for the rest of their lives.
Bob and Mary found a simple and easy way to achieve this dream. When they set up their trust, they named Emporia State as a beneficiary.
What's your dream?
Learn how easy it is to make your dream a reality by naming Emporia State University in your will or trust. Contact Angela Fullen, Director of Planned Giving at the Emporia State University Foundation. She can answer your questions or help you get started. If you have already named Emporia State in your will or trust, let us know. We will make sure your gift does everything you want it to do.
"I would encourage anyone, if they are thinking about doing something like this, to contact the Foundation. For us, it has been a great experience." - Mary Butel
Getting Started is Easy
Not sure how to take the first step? We've got just the thing you need. Download your free Will and Estate Planning Guide. This guide is an easy way to get started on, or update, your estate plan. It will help you explore your options at your own pace. It's free, easy and yours to keep.
Download your copy today or contact Angela Fullen to request a printed copy.
Starbucks Brews Up Quarterly Earnings
The company reported net revenue of $8.72 billion for the quarter, up 14% from $7.64 billion reported in the same quarter last year. This surpassed analysts' expectations of $8.40 billion in revenue for the quarter.
"I am very pleased with our Reinvention progress and grateful for the opportunity to fully immerse into the company, which I formally took over on March 20, 2023," said Starbucks CEO, Laxman Narasimhan. "From my immersion observations, our leadership team now has a clear line of sight into our growth headroom, as well as our opportunities to enhance margins and modernize the business, brand, partner experience and culture of Starbucks."
Starbucks' net income for the quarter grew to $908.3 billion or $0.79 per adjusted share. This was up from $674.5 million or $0.58 per adjusted share in the same quarter last year.
In the second quarter, Starbucks opened 464 net new stores, ending the quarter with 36,634 stores globally. Global comparable store sales grew by 11%, which the company attributed to a 6% increase in comparable transactions and a 4% increase in average ticket prices. There were 30.8 million active loyalty program members in the second quarter, up 15% year-over-year. Starbucks' board of directors declared a quarterly cash dividend of $0.53 per share, which will be due to the stockholders of record on May 12, 2023, with an anticipated payment date of May 26, 2023.
Starbucks Corporation (SBUX) shares ended the week at $107.21, down 6% for the week.
CVS Announces Latest Earnings
CVS Health Corporation (CVS) reported its first quarter results on Wednesday, May 3. The drug store company's stock dipped more than 2% following the earnings release due to a downward revision of its fiscal year earnings.
Revenue for the quarter came in at $85.28 billion, up 11% from $76.83 billion at this time last year. This was above analysts' estimates of $80.81 for the quarter.
"We delivered another strong quarter while executing on the strategy we outlined in December 2021, leading to the close of the Signify Health acquisition followed quickly by Oak Street Health," said CVS Health CEO, Karen Lynch. "These additions are core to our strategy and will help unlock future growth as we push further into value-based care, which prioritizes keeping people healthy."
The company reported net income of $2.14 billion or $1.65 per adjusted share. This was down from net income of $2.35 billion or $1.77 per adjusted share reported in the same quarter last year.
In the first quarter report, CVS announced the completion of two significant acquisitions. During the first quarter, Signify Health, a company that offers in-home services, was acquired for approximately $7.8 billion which will help advance the company's health care services. On May 2, 2023, the acquisition of Oak Street Health, a leading primary care company with approximately 600 primary care providers and over 170 medical centers in 21 states, was completed for approximately $10.6 billion. CVS's Health Care Benefits segment revenue grew 12.1% to $25.88 billion compared to one year ago. Medical membership increased by nearly a million members to 25.5 million. Health Services revenue rose by 12.6% to $44.59 billion compared to a year ago. CVS updated its guidance and now expects to earn between $6.90 to $7.12 per share in fiscal 2023.
CVS Health Corporation (CVS) shares ended the week at $70.68, down 4% for the week.
Apple Releases Earnings Report
Apple, Inc. (AAPL) reported its second quarterly earnings on Thursday, May 4. The company reported revenue that beat analysts' expectations and Apple shares rose over 4% following the earnings release.
Revenue for the fourth quarter came in at $94.84 billion. This was down from $97.28 billion during the same quarter last year but above the $92.96 billion expected by Wall Street.
"We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high," said Apple CEO, Tim Cook. "We continue to invest for the long term and lead with our values, including making major progress toward building carbon neutral products and supply chains by 2030."
Apple's quarterly net income was $24.16 billion or $1.52 per adjusted share. This was down from net income of $25.01 billion or $1.52 per adjusted share at this time last year.
The tech giant reported iPhone sales of $51.33 billion for the quarter, making up more than half of their total revenue. Mac and iPad sales brought in $7.17 billion and $6.67 billion in revenue respectively.
Sales for the Services segment rose to $20.91 billion from $19.82 billion made last year. The Wearables, Home and Accessories segment posted revenue of $8.76 billion, a slight decrease from the prior year. Apple's board of directors declared a cash dividend of $0.24 per share. The cash dividend will be due to the stockholders of record on May 15, 2023, with a payment date of May 18, 2023.
Apple, Inc. (AAPL) shares ended the week at $173.57, up 3% for the week.
The Dow started the week at 34,117 and closed at 33,674 on 5/5. The S&P 500 started the week at 4,167 and closed at 4,136. The NASDAQ started the week at 12,210 and closed at 12,235.
Treasury Yields Continue to Fluctuate
On Wednesday, the Federal Reserve delivered another 25-basis-point interest rate hike on short-term borrowing, bringing the benchmark rate to a target range of 5% to 5.25%. While the central bank appears dedicated to the tightening of monetary policy, members of the Federal Reserve signaled they may pause increases going forward.
"In pushing the benchmark Fed funds rate above 5% for the first time since 2007, the Federal Reserve is underscoring their commitment to getting inflation under control and restoring price stability," said financial analyst for Bankrate, Greg McBride. "In true central bank fashion, the Fed left themselves a path to pause, or to hike rate[s]d further if necessary."
The benchmark 10-year Treasury note opened the week of May 1 at 3.42% and traded as low as 3.29% on Thursday. The 30-year Treasury bond opened the week at 3.68% and traded as low as 3.66% on Wednesday.
On Thursday, the U.S. Department of Labor reported that initial claims for unemployment increased by 13,000 to 242,000 for the week ending April 29. Continuing unemployment claims decreased 38,000, reaching 1.81 million.
"Labor markets continue to experience exceptionally tight conditions, but the now-sustained increase in claims and potential further uptrend as a result of spreading layoff announcements could be the first steps along a path to more balanced labor market conditions," said senior economic advisor at PNC Financial, Stuart Hoffman.
The 10-year Treasury note yield finished the week of 5/1 at 3.45%, while the 30-year Treasury note yield finished the week at 3.76%.
30-Year Mortgage Rates Dip
This week, the 30-year fixed rate mortgage averaged 6.39%, down from last week's average of 6.43%. Last year at this time, the 30-year fixed rate mortgage averaged 5.27%.
The 15-year fixed rate mortgage averaged 5.76% this week, up from 5.71% last week. During the same week last year, the 15-year fixed rate mortgage averaged 4.52%.
"This week, mortgage rates inched down slightly amid recent volatility in the banking sector and commentary from the Federal Reserve on its policy outlook," said Freddie Mac's Chief Economist, Sam Khater. "Spring is typically the busiest season for the residential housing market and, despite rates hovering in the mid-6% range, this year is no different. Interested homebuyers are acclimating to the current rate environment, but the lack of inventory remains a primary obstacle to affordability."
Based on published national averages, the savings rate was 0.39% as of 4/17. The one-year CD averaged 1.54%.
Editor's Note: The publicly available financial information is offered as a helpful and informative service to our friends. This article is not an endorsement of any company, product or service.