Goldman Sachs Group Inc. (NYSE: GS) stock is up today (Tuesday) after GS earnings surprised Wall Street with a strong beat. The investment powerhouse reported second quarter results before Tuesday's opening bell.
Unbowed by fines and new regulations, Goldman Sachs (NYSE: GS) has simply looked elsewhere for fresh victims.
In a deal that barely registered with the mainstream media, Ecuador's central bank agreed earlier this week to swap half of its gold reserves - worth $580 million - with Goldman in exchange for liquid assets.
The Ecuadorian central bank thinks it's going to earn $16 million to $20 million in profit over the three-year duration of the deal.
Stock market news today, April 9, 2014: The Dow Jones Industrial Average rose 10 points yesterday to finish at 16,256. The Nasdaq increased 33 points to finish at 4,112, while the S&P 500 added 6 points to end the day at 1,851.
Today, the FOMC will release minutes from its March meeting. Investors are seeking clues on when Fed Chair Janet Yellen and the central bank will exercise an increase in interest rates.
At the closing bell, the Dow Jones Industrial Average today dropped 159.84 points to finish at 16,412.71. The Nasdaq fell 110.01 points finish at 4,127.73, while the S&P 500 lost 23.67 points to end the day at 1,865.10.
A big reason for today's market fall: The U.S. jobs report disappointed.
Investors can add another deal to the 2014 IPO calendar, with the GrubHub IPO expected to take place on Thursday, April 3.
Today, Grubhub officials announced that they have upped the price range on Grubhub stock to $23 to $25, from a previous range of $20 to $22.
Last week, GrubHub officials announced that they plan to raise approximately $155 million in an initial public offering by selling 7.03 million shares.
Now that the GrubHub IPO financial info has been released, investors are investigating the company.
Stock Market Today, Feb. 3: U.S. stocks closed down Monday after a rough trading session on the heels of a disappointing report on U.S. manufacturing and ahead of a busy week for economic indicators.
The Dow Jones Industrial Average closed down 326.05 points, or 2.1%, at 15,372.80 points; the S&P 500 Index closed down 2.28%, or 40.7 points, at 1,741.89; and the Nasdaq Composite Index closed down 2.61%, or 106.92 points at 3,996.96.
Pandora Media (NYSE: P) stock climbed as much as 15% today to a high of $37.95, after analysts at Goldman Sachs Group Inc. (NYSE: GS) estimated that the stock could nearly double in the next year.
Goldman Sachs analyst Heath Terry told investors that "if Pandora doubles advertising, increases its mix of local commercials to half of all ads and leverages fixed-content costs," the stock could go as high as $60.
Editor's Note: You're getting special access to Bill's Private Briefing today because this technology will change the way you encounter everyday life. It could change the way you invest, too...
Once I get my son Joey off to school each morning - meaning I can switch away from SpongeBob Squarepants or Scooby Doo - I'll put on CNBC as I get ready for my commute to the office.
You know the drill... I leave it on in the background and sort of half listen as I finish dressing. Invariably, a story or two will pique my interest, causing me to give it my full attention.
Goldman Sachs (NYSE: GS) stock rose 1.22% yesterday (Wednesday) to $178.75, ahead of today's Q4 earnings release.
Analysts project EPS of $4.21 on revenue of $7.71 billion. Those figures are down from last year, when GS reported EPS of $5.60 on revenue of $9.24 billion.
The bank is scheduled to report earnings at 7:30 A.M. EST and will follow up with a conference call at 9:30 A.M.
GS stock has performed well lately, up 10% in the last three months and 29% in the last year.
The Big Banks reporting earnings this week will be one of the most significant events of 2014. In the big picture, how the banks fare and what their future prospects are could single-handily determine the trajectory and breadth of the recovery we've been hoping for. Even more importantly,
Third-quarter earnings season has picked up, with a number of companies posting earnings today before the opening bell and two tech giants set to report after the close.
When Q3 earnings kicked off a week ago, analysts estimated third-quarter earnings would come in 6.5% higher than the same quarter a year ago.
The dumping of Alcoa, Hewlett-Packard, and Bank of America from the Dow Jones Industrial Average in favor of newcomers Nike, Visa, and Goldman Sachs is the biggest change to the index in nearly a decade. Here's what investors need to know about this shake-up...
In afternoon trading Tuesday all three major index were sharply higher. The Dow Jones Industrial Average soared some 90 points by 2:30 p.m., the Standard & Poor's 500 Index climbed 11, and the Nasdaq jumped 33. That followed Monday's gains of 100.38 points, 16.78 points and 39.27 points, respectively.
With few economic releases scheduled for Tuesday, investors' focus was pinned on Washington. House Speaker John Boehner, R-OH, and U.S. President Barack Obama continued to haggle over a fiscal cliff deal, with the president making a counter offer late Monday.
First, about those polls leading up to the presidential contest.
How come they were so wrong? How come the candidates were inches apart right up to the finish line, and then it's like a "tortoise and the hare" kind of ending?
Did Romney even finish? Is he finished? Is the Republican Party finished?
Maybe the problem is the questions they ask, the pollsters, that is, or the way they ask them. Maybe they ask questions like a lawyer leading a witness would.
You have to wonder who pays for those polls, too. Survey says: the Super PACs - or is that the stupid hacks? Don't you wish they'd post the questions they asked along with the "Survey Says" results?
And, how stupid are the markets, make that investors, you know who you are. The day of the election, the market was anticipating a Romney victory, after all the polls said it was more than possible, so we got a smart little rally.
Then reality set in. Four more years. And you think it's going to get better?
Here's something else to chew on. If you think the Republicans are going to roll over and play dead, now that they are dead, think again.
The only way to fight back when you're dead is to kill the other guy, so you're both dead. Then, of course, you say, I was dead first, I couldn't have killed the economy, I couldn't have driven us over the fiscal cliff, they did it!
It looks like the market is saying, OMG (that's Oh My God, for you non-texters), we're going over the cliff and there's no stopping us.
Trust me on this one, that cliff everyone's been talking about - it ain't the only cliff.
The investment banking giant's earnings per share came in at $1.78, blowing away analysts' estimates of $1.18. Revenue came in at $6.63 billion, better than the expected $6.28 billion.
A couple months ago these numbers would have actually disappointed.
In the last two months, expectations for the quarter had dwindled. The average earnings per share forecasts dropped to the current $1.18 per share from $2.16 in June and $2.87 in May. Looking back to the same quarter a year ago, earnings were $1.85 per share and revenue was $7.28 billion (8.9% better than the current quarter's revenue).
"During the second quarter, market conditions deteriorated and activity levels for both corporate and investing clients were lower given continued instability in Europe and concerns about global growth," Goldman Chairman and CEO Lloyd Blankfein said in a statement.
The weak economic environment will keep weighing on Goldman through the year.