Goldman Sachs on Tuesday posted its largest earnings miss in a decade as revenue fell and expenses and loan loss provisions came in higher than expected. Here’s what the investment bank reported: Earnings: $3.32 per share vs. $5.48 estimate of analysts surveyed by Refinitiv Revenue: $10.59 billion vs. $10.83 billionContinue Reading
(Bloomberg) — Stocks are worth buying because they’ve fallen so far that further dramatic declines are unlikely, according to a top wealth adviser at Goldman Sachs Group Inc. Most Read from Bloomberg The odds of a recession are about 50-50, which the market has already factored into share prices andContinue Reading
(Bloomberg) — Goldman Sachs Group Inc. economists said they now expect the US Federal Reserve to raise interest rates to 5%, higher than previously predicted. Most Read from Bloomberg The central bank will lift its benchmark rate to a range of 4.75% to 5% in March, 25 basis points moreContinue Reading
Goldman Sachs posted third-quarter results Tuesday that topped analysts’ expectations for profit and revenue on better-than-expected trading results. Here are the numbers: Earnings: $8.25 a share vs. $7.69 per share estimate according to Refinitiv Revenue: $11.98 billion vs. $11.41 billion estimate The company said profit fell 43% to $3.07 billion,Continue Reading
(Bloomberg) — The OPEC+ alliance agreed to its biggest production cut since the start of the pandemic in Vienna on Wednesday, a move that drew a swift rebuke from the US and prompted Goldman Sachs Group Inc. to increase its price forecast for global benchmark Brent crude this quarter. MostContinue Reading
There’s no doubt, Wall Street did not like Fed Chair Jerome Powell’s Jackson Hole speech. The markets tumbled after Powell stressed the central bank is committed to taming inflation and will implement another 75bp hike if that is what is needed to get the job done. The markets might haveContinue Reading
In China, people typically buy apartments before they are completed. Pictured here on June 28, 2022, are unfinished residences in Nanning, Guangxi Zhuang Autonomous Region. Future Publishing | Future Publishing | Getty Images BEIJING — Goldman Sachs has cut its forecast for the MSCI China index due to a worseningContinue Reading
July has become a month for unexpected plebiscites. First there is the mind-boggling: the UK’s ruling Conservative party allowing a vote of confidence in itself on Monday. This “sideshow” as the FT’s parliamentary team labelled it last week, certain to be won by the ruling party, is best seen asContinue Reading
Goldman Sachs on Monday posted profit and revenue that exceeded analysts’ estimates as fixed income traders generated roughly $700 million more revenue than expected. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $7.73 vs. $6.58Continue Reading
(Bloomberg) — The first hints that consumer belt-tightening is passing through to corporate earnings are coming in, posing a bigger risk to US equities than stock-selling by American households, according to Goldman Sachs Group Inc.. Most Read from Bloomberg High inflation and declining asset prices have started to strain householdContinue Reading