March 4, 2024

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Pathward Financial (NASDAQ: CASH) recently released the results of its Small Business Credit Habits and Needs report, which paints a mixed picture of the economy. The survey of 1,000 small-business owners and executive decision-makers reveals that although 70 percent consider their businesses to be in growth mode, one in three small businesses have struggled with cash flow, and 56 percent expect to need funding in the next year.

SAB Biotherapeutics (NASDAQ: SABS) – A change has occurred at the top for SAB Biotherapeutics. On Feb. 2, the biotech company announced the appointment of Samuel Reich as CEO. This is an expansion of Reich’s role as executive chairman. Co-founder Eddie Sullivan, the former CEO, will continue in his role as president and member-at-large on the company’s board of directors. His responsibilities will include leadership of operational research and development functions of the company.

First Interstate BancSystem (NASDAQ: FIBK) – As a regional bank, Montana-based First Interstate BancSystem is facing a situation in which the bank has the resources to loan money but is finding that demand is simply not there. However, CEO Chris Riley remarked on the company’s January earnings call that he expects conditions to improve later in 2024.

The Bancorp (NASDAQ: TBBK) – In the month following The Bancorp’s earnings report, TBBK stock is up over 3 percent. The bank announced that it’s raising a planned stock buyback to $50 million per quarter in 2024. Analysts give the stock a consensus “buy” rating, with two “strong buy” ratings from the three analysts who have issued a rating in the past three months.

Wells Fargo (NYSE: WFC) – The inaugural Wells Fargo Money Study reveals what many Americans feel every day. Specifically, the study shows that across all income levels, many individuals are concerned about the sustainability of their financial lives. Two-thirds of those surveyed say they’ve cut back on spending, and 45 percent disclosed putting some life plans on hold. The bank conducted the study to get fresh eyes on consumer concerns in an effort to understand how to help them.

NorthWestern Energy (NASDAQ: NWE) – In February, NorthWestern Energy announced that it had donated nearly $400,000 to organizations in over 400 communities it serves in Montana, South Dakota and Nebraska. The company has a tradition of supporting community organizations through donations from the company and its employees and not through the rates its consumers pay.

The company also announced a 65-cent-per-share dividend that will be paid March 29 to shareholders of record on March 15.

CNH Industrial (NYSE: CNHI) – CNH Industrial took another step in its long-running commercial partnership with Bem Agro by taking a minority stake in the Brazilian drone imaging startup that uses artificial intelligence to convert any type of aerial field image into agronomic mapping reports.

Citigroup (NYSE: C) – On Feb. 14, Citi announced that it had successfully completed a proof of concept on the tokenization of private funds. The proof of concept, which was done along with Wellington Management and WisdomTree, found that smart-contract capabilities could deliver functionality and operational efficiencies that currently are unavailable with traditional assets. This potentially opens the door for buy- and sell-side institutions to engage with distributed ledger infrastructure in a way that is consistent with regulations.

McDonald’s (NYSE: MCD) – On Feb. 5, McDonald’s announced its earnings report for its fourth quarter. The company announced revenue of $6.41 billion, which was slightly lower than the $6.45 billion that analysts were forecasting. However, the company delivered earnings per share of $2.95, which came in above estimates of $2.83.

Walmart (NYSE: WMT) – On Feb. 22, Walmart accelerated its efforts to provide its associates with pathways to higher-paying, higher-skilled jobs. The goal is to help fast-track these associates into approximately 100,000 in-demand jobs the company expects to fill in the next three years.

Target (NYSE: TGT) – On Feb. 21, Target announced that company associates donated over 1 million hours to their communities in 2023. The company said this milestone is a key way that it uses its size and scale to make a meaningful impact in the communities in which it operates.

Macy’s (NYSE: M) – On Feb. 27, Macy’s announced a new corporate initiative, A Bold New Chapter, that is designed to fundamentally reposition the customer experience, deliver growth and unlock shareholder value. As part of the initiative, the company plans to close 150 unproductive locations through 2026.

Amazon (NASDAQ: AMZN) – In February, Amazon announced that the “techbio” company Owkin is partnering with Amazon Web Services to advance generative AI for precision medicine applications, including drug discovery, de-risking and accelerating clinical trials, and developing AI diagnostics.

Costco (NASDAQ: COST) – On Feb. 7, Costco announced January sales results. The company delivered net sales of $22.08 billion, which was an increase of 4.5 percent from the $21.13 billion it recorded in the prior year.

Ford Motor (NYSE: F) – On Feb. 6, Ford Motor announced financial results for its fourth quarter. The automaker delivered earnings per share  of 29 cents on revenue of $43.21 billion. Both numbers exceeded analysts’ estimates. The company also announced a supplemental dividend of 18 cents in addition to its regular quarterly dividend of 15 cents. The dividends were paid March 1 to shareholders of record on Feb. 16.

General Motors (NYSE: GM) – In an effort to accelerate its vision of an all-electric future, General Motors announced the hiring of Kurt Kelly, a globally recognized battery expert and former Tesla executive, as vice president of batteries. Kelly is tasked with pairing his industry experience with GM’s battery development resources to deliver profitable, low-cost, high-performing EVs at scale.

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