MarketBeat August market recap

Sept. 1, 2022

This paid piece is sponsored by MarketBeat.

Sioux Falls-based MarketBeat is a one-stop resource that brings together fundamental and technical analysis so investors have a single resource to get timely information on news that affects the stocks in their portfolio or watchlist. MarketBeat is partnering with SiouxFalls.Business to provide a monthly overview of stocks of local interest. Here’s a recap of what has been moving these stocks in the past 30 days.

Pathward Financial (NASDAQ:CASH) – On Aug. 25, Pathward Financial announced it will issue a cash dividend of 5 cents per share for shareholders of record as of Sept. 8, 2022. The dividend will be paid on Oct. 3.

SAB Biotherapeutics (NASDAQ:SABS) – SAB Biotherapeutics reported its second quarter earnings report Aug. 10. The biotech firm beat estimates by delivering 11 cents earnings per share but falling short on revenue expectations. Revenue came in at $6.35 billion, which was below the forecast for $10.8 billion. The company is forecasting that it has enough cash on hand to fund operations for the next 12 months.

First Interstate BancSystem (NASDAQ:FIBK) – First Interstate BancSystem issued a cash dividend of 41 cents per share Aug. 19. The bank has raised its dividend in each of the past nine years and currently pays an annual dividend of $1.64 per share.

Wells Fargo (NYSE:WFC) – Today, Wells Fargo will pay out a quarterly dividend of 30 cents per share for shareholders of record on Aug. 5, 2022. The bank also declared cash dividends on eight series of preferred stocks that will be paid on Sept. 15.

NorthWestern (NASDAQ:NWE) – NorthWestern was named a top 10 dividend paying utility stock by Dividend Channel in its weekly DividendRank report. The company earned this distinction for its attractive valuation and track record of strong profitability.

CNH Industrial (NYSE:CNHI) – On Aug. 23, CNH Industrial received the 2022 Red Dot Design Award for its Hybrid Drivetrain Konzept, which the company is designing to power lightweight, high-horsepower tractors.

Citigroup (NYSE:C) – On Aug. 26, Citigroup issued a cash dividend of 26 cents per share to shareholders of record on Aug. 1, 2022. The company also announced it expects to incur a $170 million loss as it winds down its consumer and commercial banking operations in Russia.

McDonald’s (NYSE:MCD) – In mid-August, McDonald’s announced it would begin to reopen some of its restaurants in Ukraine over the next several months. The company is scheduled to pay a $1.38 per share cash dividend Sept. 16 to shareholders of record on Sept. 1, 2022.

Walmart (NYSE:WMT) – Walmart delivered its second quarter earnings report for fiscal year 2023 on Aug. 16. The retailer beat analysts’ expectations for revenue and profit. The company’s top line came in at $152.86 billion, which was better than the forecast for $149.96 billion. And on the bottom line, Walmart booked $1.77 in earnings per share, which beat the forecast of $1.60.

Target (NYSE:TGT) – Target reported second quarter earnings Aug. 17. The company came in lower than analysts’ expectation on both the top and bottom lines. Revenue was $26.04 billion, which was below the forecast for $26.07 billion. On the bottom line, the company reported 39 cents earnings per share, below the forecast of 72 cents per share. The company is citing a change in spending habits by its consumers.

Macy’s (NYSE:M) – Macy’s delivered its second quarter earnings report Aug. 23 and beat on both the top and bottom lines. The company posted $1 earnings per share, which was better than the 80 cents per share that was forecast. And the top line came in at $5.6 billion, which was just ahead of the forecast of $5.5 billion.

Amazon (NASDAQ:AMZN) – Amazon has signed an agreement with Plug Power (NASDAQ:PLUG) for the latter to provide liquid green hydrogen to help Amazon decarbonize its operations. This is part of Amazon’s pledge to be net-zero carbon by 2040. The agreement begins in 2025.

Costco (NASDAQ:COST) – Costco issued a cash dividend of 9 cents per share Aug. 12. The dividend was paid to shareholders of record as of July 29, 2022. The company will report fourth quarter earnings Sept. 22.

Ford Motor (NYSE:F) – Ford Motor will pay a cash dividend of 15 cents per share today to shareholders of record on Aug. 11, 2022. The company’s stock continues to draw interest as demand for electric vehicles is increasing.

General Motors (NYSE:GM) – General Motors reinstated its cash dividend in August. The company will pay a cash dividend of 9 cents per share Sept. 15 to shareholders of record on Aug. 31, 2022. Additionally, the auto manufacturer announced it is increasing share buyback capacity to $5 billion from the previously announced $3.3 billion.

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MarketBeat August market recap

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