Northern Trust Corp (NTRS)

Shares of Northen Trust Corporation (NTRS) dropped by 6.61% from $70.61 to $65.94 in the trading on Wednesday, October 18, 2023. The reason why NTRS stock down is due to its disappointing Q3 earnings:

• Northern Trust reported quarterly earnings per share of $1.49, falling short of the Zacks Consensus Estimate of $1.50 per share and marking a decrease from $1.80 per share in the previous year. This resulted in an earnings surprise of -0.67%.
• The company also posted revenues of $1.73 billion for the quarter, slightly surpassing the Zacks Consensus Estimate by 0.30%.
• However, these figures, combined with the stock's year-to-date loss of approximately 20.2%, contributed to the downward movement in Northern Trust Corporation's stock.

Shares of Northern Trust Corp. (NTRS) fell by 6.79% to $71.85 after the custodian and asset manager forecast a bigger-than-expected drop in net interest income in the third quarter

https://www.reuters.com/business/finance/northern-trust-shares-slide-after-forecasting-bigger-drop-net-interest-income-2023-09-12/