MarketBeat March market recap

April 1, 2024

This paid piece is sponsored by MarketBeat.

Pathward Financial (NASDAQ: CASH) – On March 28, Pathward Financial was named one of the Top 50 ACH originating and receiving financial institutions in the United States. The award, which was issued by NACHA, formerly the National Automated Clearing House Association, confirms the company’s status as a leader in electronic payments.

SAB Biotherapeutics (NASDAQ: SABS) – On March 25, SAB Biotherapeutics announced that the Navy Medical Research Command is moving forward with a safety and feasibility study that will evaluate the company’s SAB-176 candidate as a prophylactic treatment for influenza type A and type B.

The company also announced its fourth quarter and full-year results for 2023 on March 29. The company confirmed it remains on track for a data release this year of its phase one trial for its SAB-142 candidate. The company also reported having cash and cash equivalents of $56.6 million at the end of 2023.

First Interstate BancSystem (NASDAQ: FIBK) – First Interstate BancSystem will announce its first quarter earnings report April 24. Analysts expect the company to report earnings per share of 56 cents, which would be a 2-cent year-over-year improvement.

The Bancorp (NASDAQ: TBBK) – In March, The Bancorp became the subject of an investigation from an activist short-selling firm that accused the company of misrepresenting the quality of its real estate bridge loan portfolio and contending that TBBK’s related loss reserves are inadequate. The company’s stock price has fallen by more than 25 percent during the past month as a result.

Wells Fargo (NYSE: WFC) – In March, Wells Fargo announced it was partnering with the construction technology pioneer ICON to support ICON’s Initative 99 Global Architecture Competition to build homes for under $99,000. The bank is committing $500,000 to an Austin, Texas-based nonprofit undertaking the build at Austin’s Community First Village.

NorthWestern Energy (NASDAQ: NWE) – In an update to a previous report, NorthWestern Energy announced that recent snowstorms in Montana’s Madison Valley have raised the snowpack levels to 83 percent of the 30-year median level. The company said the area still will need above-average snow this spring to catch up to prior levels. It owns and operates two dams on the Madison River, one of which produces power.

CNH Industrial (NYSE: CNHI) – The awards keep coming for CNH Industrial. In March, the company’s Case IH and STEYR each won a prestigious iF Design Award, which is recognized as a global symbol of excellence in design.

Citigroup (NYSE: C) – Citigroup will host an investor day focusing on the bank’s Services business. The event will take place in New York City on June 18 and will allow the bank to go deeper into the strategy and path forward to its Services business.

McDonald’s (NYSE: MCD) – McDonald’s is teaming up with Krispy Kreme (NASDAQ: DNUT) to put Krispy Kreme’s signature doughnuts in every McDonald’s U.S. location. The initiative will begin rolling out this year with a goal of having Krispy Kreme doughnuts in every location in 2026.

Walmart (NYSE: WMT) – On March 7, Walmart launched its Express On-Demand Early Morning Delivery that will deliver packages as early as 6 a.m. As with the company’s regular On-Demand Delivery, shipping is free for Walmart+ members.

Target (NYSE: TGT) – In March, Target announced plans to enhance its customers’ shopping experience. The plans include an evolution of the Target Circle loyalty program with three new membership options, new brand launches and expansions, and plans for hundreds of new stores and investments in approximately 2,000 existing stores over the next decade.

Macy’s (NYSE: M) – On March 4, the Macy’s board of directors confirmed that the company had received a revised, unsolicited, nonbinding proposal from Arkhouse Management Co. LP and Brigade Capital Management to acquire all of Macy’s outstanding shares for $24 per share in cash. The board is advising on the proposal.

Dillard’s (NYSE: DDS) – In a significant announcement, Dillard’s is launching the Katherine Mason for Kinesis line of ladies’ active and athleisure wear. The line, which the fitness and fashion expert designed, is available in Dillard’s locations across the U.S. as well as on dillards.com.

Amazon (NASDAQ: AMZN) – On March 26, Amazon Pharmacy announced the launch of same-day delivery of prescription medications in New York and the Los Angeles area. This is in addition to five cities that already have the service. Amazon plans to expand the same-day prescription delivery to a dozen other cities by the end of the year.

Costco (NASDAQ: COST) – On March 7, Costco announced its net sales for the second quarter of its 2024 fiscal year, which showed an increase of 5.7 percent to $57.33 billion. Net sales for the first 24 weeks increased 5.9 percent to $114.05 billion.

Ford Motor (NYSE: F) – Ecolab, a global sustainability leader that offers water, hygiene and infection solutions, selected Ford’s commercial division, Ford Pro, to accelerate the electrification of its sales and service fleet.

General Motors (NYSE: GM) – General Motors will announce its first quarter earnings results April 23.

MarketBeat Overview

MarketBeat was founded in 2011 to create high-quality stock research tools and make them available to investors at all levels. The site uses the latest technology to provide proprietary, comprehensive, accurate and up-to-the-minute financial data, including information about analyst recommendations, dividend declarations and earnings announcements.

All this information and more is available for free on the company’s website and via the company’s daily newsletters. MarketBeat aims to be a go-to resource for both retail and institutional investors. Currently, over 15 million individuals visit MarketBeat.com every month.

Tags:  

Want to stay in the know?

Get our free business news delivered to your inbox.



MarketBeat March market recap

A big drop in share price for a local company, plus Krispy Kreme at McDonald’s and early morning Walmart deliveries in this month’s Market Recap.

News Tip

Have a business news item to share with us?

Scroll to top