June 1, 2023

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Pathward Financial (NASDAQ: CASH) – On May 11, Pathward Financial announced a cash dividend payment of 5 cents per share for its third quarter. The dividend will be paid July 3 to shareholders of record as of June 8. In other company news, Pathward’s senior vice president and managing counsel, Lauren Brecht, was invited to provide insight into a report by bankdirector.com about the risks and responsibilities of outsourcing banking as a service, or BaaS, and how to invest in partnerships with the providers who provide compliance.

SAB Biotherapeutics (NASDAQ: SABS) – On May 16, SAB Biotherapeutics delivered its first quarter earnings report. The company missed on both the top and bottom lines. However, the company had more encouraging news for investors on the progress of its pipeline. Specifically, the company announced it received breakthrough therapy and fast track designations from the Food & Drug Administration for its SAB-176 candidate to treat Type A and Type B influenza.

First Interstate BancSystem (NASDAQ: FIBK) – First Interstate BancSystem delivered its first quarter earnings report April 26. The company’s net income of $53 million and earnings per share of 54 cents were lower on a year-over-year basis. However, at a time when regional banks are under close scrutiny, the bank announced it had exceeded all regulatory capital-adequacy requirements. On May 18, the bank paid a 47-cent-per-share dividend to shareholders of record as of May 8.

The Bancorp (NASDAQ: TBBK) – On April 27, The Bancorp delivered its first quarter earnings report. The bank beat on the top and bottom lines with revenue of $85.82 million and earnings per share of 88 cents. The results highlight the bank’s unique structure in which it invests depositor funds in short- to medium-term assets at floating rates. This is an efficient strategy at a time when the yield curve is inverted.

Wells Fargo (NYSE: WFC) – On May 16, Wells Fargo agreed to pay $1 billion to settle a lawsuit in which the bank was accused of defrauding shareholders about its progress in recovering from a series of scandals over how the bank treated customers. On June 1, the bank will pay a cash dividend of 30 cents per share to shareholders of record as of May 5.

NorthWestern Energy (NASDAQ: NWE) – On April 27, NorthWestern Energy delivered its earnings report for the quarter ending March 31. The company’s revenue of $62.5 million was higher than the prior year, but earnings per share of $1.05 were slightly lower than the $1.08 in the same quarter the prior year. On May 1, the company issued its 2023 Electric Integrated Resource Plan and cited an ongoing risk stemming from the retirement of traditional energy generation resources such as coal plants. This is creating uncertainty as to whether Montana residents will have the energy to meet peak demand.

CNH Industrial (NYSE: CNHI) – CNH stock is down approximately 2 percent for the month of May despite delivering record revenue that was higher than the same quarter in 2022. The company also increased its net sales guidance for the full year. On May 22, CNH announced a collaboration agreement to integrate One Smart Spray’s advanced spraying system into its product portfolio.

Citigroup (NYSE: C) – On May 24, Citigroup announced that it would pursue an initial public offering  of its Banco Nacional de México, or Banamex, operation. The bank will continue to operate locally licensed banking business in Mexico.

McDonald’s (NYSE: MCD) – As if investors needed another reason to be excited about McDonald’s stock, the company already is using artificial intelligence to handle some of the tasks done by employees. And some analysts predict the company may be able to use AI to fill even more jobs in the future.

Walmart (NYSE: WMT) – On May 18, Walmart delivered a strong earnings report for the first quarter of its 2024 fiscal year. The retail giant posted revenue of $152.30 billion and earnings per share of $1.47. The numbers beat expectations and were higher than the same quarter a year ago. The company cited consumers shifting their spending patterns to buying staple items at the expense of discretionary goods.

Target (NYSE: TGT) – As of May 26, Target stock is down sharply. Investors already were weighing the company’s earnings report, in which it beat earnings estimates but lowered its full-year guidance on softening demand and the ongoing threat of organized retail crime. But TGT stock fell sharply in the week of May 22 as the company’s recent launch of Pride month merchandise is receiving a backlash from consumers and investors.

Macy’s (NYSE: M) – Macy’s continues to pivot into an omnichannel future as it announces a partnership with The Trade Desk Inc. (NASDAQ: TTD), a global advertising technology leader. The partnership “will bring highly engaged customers” from its Macy’s and Bloomingdale’s brands via its in-house media publisher, Macy’s Media Network, to advertisers for off-site digital media plans.

Amazon (NASDAQ: AMZN) – Amazon stock continues its 2023 recovery after the company reported quarterly earnings April 27. Amazon beat on the top and bottom lines. AMZN stock was one of the most beaten-down stocks of 2022 but has been recovering as the company is seeing stable growth in its cloud business.

Costco (NASDAQ: COST) – Costco stock is up 4 percent after delivering a mixed earnings report May 25. The company beat earnings estimates but missed slightly on revenue. The company is noticing fewer big-ticket purchases, which reflects the overall trend away from consumer discretionary purchases.

Ford Motor (NYSE: F) – Ford stock was up nearly 7 percent the day after the company announced an agreement that will allow electric vehicle owners to use Tesla Inc. (NASDAQ: TSLA) charging stations beginning in early 2023. This comes after Ford delivered a strong earnings report May 2, with the company beating on the top and bottom lines.

General Motors (NYSE: GM) – While many small, startup companies garner the headlines in the electric vehicle space, it may be time to look at the legacy automakers. For example, General Motors is increasing its investment in electric and autonomous vehicles to $35 billion through 2025. That’s a 30 percent increase to the amount the company announced in November 2022.

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