MarketBeat October market recap

Nov. 1, 2022

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Pathward Financial (NASDAQ:CASH) – Pathward Financial beat on both earnings and revenue when the company reported earnings Oct. 27. The company posted earnings per share of $1.04, which was better than expectations of 74 cents. Revenue came in just a touch higher than expectations of $123.20 million with sales of $123.22 million.

SAB Biotherapeutics (NASDAQ:SABS) – On Oct. 27, SAB Biotherapeutics announced that it had entered into an exclusive manufacturing services agreement with Emergent BioSolutions Inc. (NYSE:EBS). Emergent will provide manufacturing support to facilitate production of SAB’s fully-human polyclonal antibody products.

First Interstate BancSystem (NASDAQ:FIBK) –First Interstate BancSystem reported earnings Oct. 26. The company missed on both the top line and bottom line. Revenue came in at $291.8, which was short of the $299.74 that was forecast. On the bottom line, the company delivered earnings per share of 80 cents, which was below the forecast of 92 cents.

Wells Fargo (NYSE:WFC) – Wells Fargo delivered mixed results when it reported earnings Oct. 16. The bank posted revenue of $19.51 billion, which was above analysts’ expectations for $18.78 billion. However, earnings came in at 85 cents per share, which was below expectations of $1.09.

NorthWestern Energy (NASDAQ:NWE) – NorthWestern Energy delivered its quarterly earnings report Oct. 24. The company posted mixed results. Revenue was better than expected with the company posting $335.1 million, which was better than the $317.08 that was forecast. However, on the bottom line, the news was not as good. The company delivered earnings per share of 42 cents, which was sharply below the estimates of 58 cents.

CNH Industrial (NYSE:CNHI) – On Oct. 26, CNH Industrial announced a series of transactions that it completed as part of the first tranche of its $50 million share buyback with the company’s $300 million common share buyback program.

Citigroup (NYSE:C) – On Oct. 14, Citigroup delivered its quarterly earnings report. The company beat forecasts for both earnings and revenue. Earnings came in at $1.63 per share, which was above the forecast of $1.46. Revenue came in at $18.51 billion, which was ahead of the $18.28 billion that was forecasted by analysts.

McDonald’s (NYSE:MCD) – McDonald’s beat on both the top and bottom lines when the fast-food giant reported earnings Oct. 27. The company delivered revenue of $5.87 billion, which was better than the $5.7 billion being forecast. The story was the same on the bottom line with McDonald’s posting earnings per share of $2.68, which was 10 cents higher than the forecast.

Walmart (NYSE:WMT) – In advance of the holiday season, Walmart is partnering with FIS, a fintech firm. Specifically, Walmart will join the FIS Premium Payback rewards program that will allow customers with eligible cards to have the option to redeem points as a discount on their purchase amount.

Target (NYSE:TGT) – Target is expanding the number of Apple at Target store-in-stores. The move will boost the company’s consumer electronics offerings ahead of the holiday season. This latest expansion will bring the total number of Apple at Target stores to 150.

Macy’s (NYSE:M) – This holiday season will be a big test for Macy’s partnership with Toys R Us. Macy’s has installed 451 Toys R Us-branded toy shops as a store-in-store concept. The company celebrated the launch Oct. 13 at its flagship store in New York City.

Amazon (NASDAQ:AMZN) – Amazon delivered disappointing earnings Oct. 27. Despite double-digit revenue growth, the tech giant couldn’t overcome inflationary pressures that weighed on margins. The company is seen as a bellwether for the retail sector, but what the report means for the holiday season has yet to be determined.

Costco (NASDAQ:COST) – Costco has announced plans to build a 164,500-square-foot store in the Twin Cities area of Chaska. The company has purchased land for the store near Hazeltine National Golf Club.

Ford Motor (NYSE:F) – Ford Motor delivered its third quarter earnings report Oct. 26 and delivered mixed results. The company beat revenue estimates by posting $37.19 billion, which was higher than the $37.11 billion that was forecast. However, earnings per share came in at 30 cents, which was a penny shy of expectations.

General Motors (NYSE:GM) –  General Motors gave investors its third quarter earnings report Oct. 25. The company delivered better-than-forecast earnings of $2.25 cents per share. That was well above the $1.88 being forecast. However, on the bottom line, the company delivered $41.89 billion in revenue, which was below the $42.05 billion that analysts were forecasting.

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MarketBeat October market recap

October was a positive month for many stocks — it also was a newsworthy one for stocks of local interest.

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