Aug. 1, 2023

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Pathward Financial (NASDAQ: CASH) – Pathward Financial is the national banking partner of the mission-driven fintech company Claire. In July, Claire announced that it had received $175 million in funding to launch the first free, on-demand pay solution as a consumer lending program backed by an FDIC-insured bank.

In Pathward’s third quarter earnings report July 26, the bank posted earnings per share of $1.76, beating consensus estimates by 19.73 percent.

SAB Biotherapeutics (NASDAQ: SABS) – In SAB Biotherapeutics’ June Investor Presentation, it outlined the plan for its SAB-142 immunology treatment to modify Type 1 diabetes. This is the first fully human, multi-target, antibody treatment designed to delay the onset of progression of this disease.

First Interstate BancSystem (NASDAQ: FIBK) – First Interstate BancSystem was named MoFi’s Montana Lender Partner of the Year for 2022. The bank earned the award by referring more business to MoFi than any other lending institution in the state.

Also in July, in an effort to increase the bank’s sustainability efforts, First Interstate is subscribing to two community solar gardens. The bank will be an anchor tenant and the first bank subscriber in each community solar garden.

The Bancorp (NASDAQ: TBBK)) – On July 27, The Bancorp delivered its earnings report for the second quarter. The bank delivered revenue of $87.2 million, beating analysts’ expectations of $87.09 million. The Bancorp also delivered earnings per share of 89 cents, which was higher than expectations of 87 cents.

Wells Fargo (NYSE: WFC) – Wells Fargo delivered its second quarter earnings report July 13. The company beat expectations for both revenue and earnings. Then, on July 26, it increased its dividend to 35 cents per share from 30 cents per share and also announced a $30 billion share buyback plan.

NorthWestern Corp. (NASDAQ: NWE) – As a response to rising costs, NorthWestern Energy is proposing an 18 percent rate increase that could raise an average South Dakota household’s energy bill by nearly $20 a month. Also in July, the company reported second quarter earnings and delivered earnings per share of 35 cents on revenue of $290.5 million.

CNH Industrial (NYSE: CNHI) – On July 25, CNH Industrial celebrated a 30-year partnership with Hillco Technologies. The two companies work together to provide a leveling system solution that helps farmers keep up with changing technology by maximizing production in a simple, high-capacity design with seamless integration.

Citigroup (NYSE: C) – On July 19, Citigroup launched its Trade and Working Capital eLoans solution for its Citi Commercial Bank clients in the U.S. This program will help clients meet current and projected working capital needs through loan advances via Citi’s easy-to-use and secure eLoans platform.

Also in July, the bank raised its base lending rate from 8 percent to 8.25 percent. The change went into effect July 27.

McDonald’s (NYSE: MCD) – McDonald’s reported second quarter earnings July 27 and delighted investors with quarterly earnings per share of $3.17 on revenue of $6.5 billion. Both numbers exceeded analysts’ forecasts and showed that the company continues to have pricing power as consumers look for cost-effective options. The company also attributed its success to the launch of chicken menu items in the past quarter.

Walmart (NYSE: WMT) – In an effort to help offset the costs associated with the back-to-school season – a cost frequently absorbed by teachers – Walmart is donating $1 million to schools through Spark Good during this back-to-school season. This will allow schools to create a nonprofit account and benefit from tax-deductible donations through Walmart’s Spark Good Registry and Spark Good Round Up programs.

Target (NYSE: TGT) – Like many retailers, Target continues to deal with weak sales and traffic trends as well as retail theft. That caused the analyst firm Raymond James to issue a rare double downgrade on the stock, moving it from a “strong buy” to a “market perform.” The company will give consumers and investors more direction in August when it reports quarterly earnings.

Macy’s (NYSE: M) – On July 19, Macy’s introduced On 34th, its new private brand that is the first new brand that will be part of the company’s reimagined customer-centric private brands portfolio. On 34th is a line of women’s apparel and accessories designed by women for women.

Amazon (NASDAQ: AMZN) – Consumers celebrated Amazon’s annual Prime Day, and this year they celebrated at historic levels. On July 13, Amazon reported that the first day of Prime Day was the single largest sales day in the company’s history. The company sold over 375 million items and generated $2.5 billion in sales.

Costco (NASDAQ: COST) – Costco continues to show why it’s the preferred choice of consumers regardless of what’s happening in the economy. On July 6, the company provided its monthly update of net sales for the prior month. In the five weeks ending July 2, the company reported net sales of $22.86 billion, which was 0.4 percent higher than the $22.78 billion it recorded for that period a year ago.

Ford Motor (NYSE: F) – On July 27, Ford Motor reported earnings and revenue that beat analysts’ forecasts. However, investors are souring on Ford stock after the company announced that it was shifting its goal of producing 600,000 electric vehicles on an annual basis to 2024. The company had said it expected to hit that milestone by the end of 2023.

General Motors (NYSE: GM) – Similar to Ford Motor, General Motors reported strong second quarter earnings. However, analysts are lowering their price targets for the stock based on a delay in EV production as well as concerns over a United Auto Workers strike.

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