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.
Here are all the details…
Goldman Sachs (NYSE: GS) Lines Up Its Next Victim: Ecuador
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.But Ecuador doesn't seem to realize it's dealing with Wall Street's most notorious pirate...
Stock Market Today: New Rules for Big Banks
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.Here are the five things to know to make your day profitable:
Dow Jones Industrial Average Today Falls on Tepid Jobs Report
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.Here's a recap of all of the major events today...
Stock Market Today: Dow Jones Industrial Average Gets Hammered
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.To continue reading, please click here...
Pandora Media (NYSE: P) Stock Up 15%, Can It Keep Climbing?
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.Find out if NYSE: P could turn out to be one of the best investments this year...
- This Is a True "Ground Floor" Opportunity 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. Full Story...
Don't Be Fooled by Goldman Sachs' (NYSE: GS) Earnings Beat
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.To continue reading, please click here...
- Big Bank Earnings Is One of the Most Significant Events of 2014 – And It Could Bring You a Fortune 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, their "financials" could have major implications for your money...
Earnings Today: Citigroup (NYSE: C), Coca Cola (NYSE: KO), and Johnson & Johnson (NYSE: JNJ)
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.To continue reading, please click here...
- Big Dow Index Changes: What They Mean for Your Stocks 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... Read more... Read More...
Stock Market Today: Biggest Winners and Losers
The stock market today rallied for a second session on hopes lawmakers in Washington will ink a fiscal cliff deal before year's end.
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.
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Goldman Sachs Stock (NYSE: GS) Won't Rebound on These Earnings
Goldman Sachs Group (NYSE: GS) handily beat second-quarter earnings and revenue when it reported numbers today (Tuesday) before market open - but that's not too hard to do since expectations had slipped drastically over the past couple months.
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.
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What the Moody's U.S. Bank Downgrades Mean for Investors
Moody's ratings agency issued five U.S. bank downgrades Thursday and a total of 15 cuts for global institutions, but markets shook off the news.
The ratings agency cited concerns about the stability of the global systems. Moody's said the banks are not as sound now as they were before the recent global financial woes and contagion.
"All of the banks affected by today's actions have significant exposure to the volatility and risk of outsized losses inherent to capital markets activities," Greg Bauer, Moody's Global Managing Director, said in a statement Thursday.
Included in the ratings cuts were Citigroup (NYSE: C), Morgan Stanley (NYSE: MS), Goldman Sachs (NYSE: GS), Bank of America (NYSE: BAC) and JPMorgan Chase (NYSE: JPM).
Bank of America and Citi are now rated just two notches above junk status, while Morgan Stanley sits a hair higher at three notches above junk.
Moody's announcement came after the close Thursday, a rocky day for markets with the Dow Jones ending down 250 points and the Nasdaq lower by 71.
The cuts appeared to be a non-event in trading Friday. Shortly after the open, all three major indexes were modestly higher, with affected banks all in the green.
But Moody's U.S. bank downgrades could be a precursor to aggressive trading activity.
"It is a trading indicator that speaks to more volatility in the future for the banks as traders will be jumping all over earnings, derivatives moves, counterparty fears, correlation concerns, "negative watch" implications and regulatory impacts," said Money Morning Capital Waves Strategist Shah Gilani. "I expect the volume in financials to go higher as traders play them more and more."
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