MarketBeat April market recap

May 1, 2024

This paid piece is sponsored by MarketBeat.

Pathward Financial (NASDAQ: CASH)—For the second consecutive year, Pathward Financial has received the distinguished Great Place to Work Certification. This award is based solely on what current employees say about their experience working at Pathward. Remote work, well-being and company culture are some of the factors employees appreciate about Pathward.

SAB Biotherapeutics (NASDAQ: SABS) – In April, the clinical-stage biopharmaceutical company gave an update on the phase one clinical trial for its SAB-142 lead candidate for delaying the onset or progression of Type 1 diabetes. The company announced it completed dosing for the third cohort of the trial with no observation of serum sickness to date.

First Interstate BancSystem (NASDAQ: FIBK) – On April 24, First Interstate BancSystem reported its first quarter earnings and beat analysts’ estimates for revenue and earnings. Earnings per share of 57 cents beat estimates by 14 percent and were 3 cents higher than the prior year. The bank also announced a quarterly dividend of 47 cents, payable May 16 to shareholders of record May 6.

The Bancorp (NASDAQ: TBBK) – On April 25, The Bancorp reported its first quarter earnings. The bank matched analysts’ estimates for $1.06 earnings per share. Revenue came in slightly lower than estimates at $94.42 million compared with the $94.96 million expected. Separately, the bank increased its share purchase reauthorization for the quarter from $50 million to $100 million.

Wells Fargo (NYSE: WFC) – In April, Wells Fargo announced the expansion of its $10,000 Homebuyer Access grant program to additional communities within the eight metropolitan areas where the program was launched in 2023. The grants also will be available for the first time in all eligible communities in New Jersey.

NorthWestern Energy (NASDAQ: NWE) – On April 25, NorthWestern Energy reported $1.09 in earnings per share on revenue of $475.3 million. Both numbers were higher than in the same quarter in 2023. The company also announced a quarterly dividend of 65 cents per share.

CNH Industrial (NYSE: CNHI) – CASE Construction Equipment, a division of CNH Industrial, announced the launch of a lineup of easy-to-use heavy equipment that it is marketing to help rental companies boost their business.

Citigroup (NYSE: C) – Citigroup delivered its first quarter earnings report April 12. The bank announced earnings per share of $1.58 on revenue of $21.1 billion. Both numbers beat analysts’ expectations. The company also announced a quarterly dividend of 53 cents per share.

McDonald’s (NYSE: MCD) – In early April, McDonald’s Corp. announced it was purchasing the McDonald’s franchises owned and operated by Aloynal Ltd. in Israel. The company has grown the McDonald’s business in Israel to include 225 franchises with over 5,000 employees.

Walmart (NYSE: WMT) – As another example of Walmart’s leadership in digital innovation that improves the customer experience, the retailer announced the rollout of exit technology at Sam’s Club that is powered by AI and computer vision to remove the friction consumers feel when they have to wait in line to have their receipt verified before they leave the warehouse club. The company has deployed the technology in over 120 locations.

Target (NYSE: TGT) – The continued and growing popularity of pickleball is inspiring Target’s partnership with the tennis and lifestyle brand Prince in launching the retailer’s pickleball collection, which includes equipment and apparel.

Macy’s (NYSE: M) – Bloomingdale, whose parent company is Macy’s, announced the launch of its latest pop-up Carousel space called Camp Bloomingdale’s. This space will carry a wide assortment of summer must-haves. Plus, the company welcomed the outdoor gear and equipment brand Coleman to its lineup.

Dillard’s (NYSE: DDS) – In April, Dillard’s announced the launch of two limited-edition capsule collections. Caelynn Bell for Gianni Bini is a versatile, elevated collection of dresses, separates and footwear for spring and summer. M.G. Style for Antonio Melani features multiple coordinating presentations of separates, dresses, swimwear and shoes by Alabama-based stylist and wardrobe consultant Mary Glenn McElveen.

Amazon (NASDAQ: AMZN) – Amazon Web Services announced general availability of Amazon Q. This is Amazon’s most capable generative AI-powered assistant for accelerating software development and leveraging companies’ internal data.

Costco (NASDAQ: COST) – On April 10, Costco reported net sales of $23.48 billion for the month of March, concluding with the five weeks ended April 7. This marked an increase of 9.4 percent from $21.46 billion in the prior year. Costco also increased its quarterly dividend from $1.02 to $1.16 per share. The dividend will be paid May 10 to shareholders of record April 26.

Ford Motor (NYSE: F) – Although Ford continues to invest in battery electric vehicles, the company announced an expansion of its hybrid electric vehicle offerings with plans to offer hybrid powertrains across its entire Ford Blue lineup in North America by 2030.

General Motors (NYSE: GM) – On April 30, General Motors released it 2023 Sustainability Report, which highlights the company’s commitment to building an equitable zero-emissions future and progress toward its carbon-neutral goal.

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MarketBeat April market recap

It’s earnings time for many local publicly traded companies, plus lots of new retail announcements from others in the monthly Market Recap.

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