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Stock Market & Financial Investment News

News Breaks
January 15, 2013
14:21 EDTGSEarnings Preview: Analysts bullish on Goldman Sachs into Q4 results
Goldman Sachs (GS) is scheduled to report Q4 earnings before the open on Wednesday, January 16, with a conference call scheduled for 10:30 am ET. Goldman is an investment banking and investment management firm. EXPECTATIONS: Analysts are looking for EPS of $3.78 on revenue of $7.91B, according to First Call. The consensus range for EPS is $2.95-$4.80 on revenue of $6.69B-$8.65B. LAST QUARTER: Goldman reported Q3 EPS of $2.85 against estimates for $2.12 on revenue of $8.35B against estimates for $7.3B. Goldmanís CEO said the companyís performance was "generally solid." The firmís investment banking revenues surged 49% versus the same period in 2011, but client services revenue only rose 3% and net revenue from equities sank 16%. The decline in equities revenue primarily reflected significantly lower commissions and fees, due to lower market volumes, and lower net revenues in equities client execution, Goldman stated. STREET RESEARCH: Seventeen Wall Street analysts have increased their estimates for Goldman in the past four weeks, as a number of analysts predict that trading and investment banking revenue accelerated significantly last quarter, Bloomberg reported. One of the firms that raised its estimates was Credit Suisse, which on January 2 hiked its Q4 EPS estimate for the bank to $4.60 from $2.50, citing a few one-time items and a strong end to the year due to the U.S. fiscal cliff debate, improved institutional client risk appetite and stable-to-higher asset prices The firm maintained a $145 price target and Outperform rating on the shares. JMP Securities also recently became more optimistic about Goldman Sachs, as the firm upgraded the shares to Market Perform from Underperform. JMP Securities upgraded Goldman along with several other capital markets firms, citing decisions by U.S. and European policymakers to "kick the can down the road" on fiscal issues. Furthermore, core equities trading by major Wall Street investment should rise 15%, while revenue from M&A activities are poised to surge 25% in 2013, JMP Securities added. PRICE ACTION: Over the last three months, Goldman's stock has risen almost 10% to above $136, after reaching a trough of ~$114 in mid-November.
News For GS From The Last 14 Days
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July 6, 2015
05:51 EDTGSPhilip Morris to cut stake in Indonesian unit, may raise over $1B, Reuters says
Philip Morris (PM) plans to sell a stake worth at least $1B in its Indonesian unit to comply with free-float rules, reports Reuters. According to two people familiar with the matter, the company short-listed Goldman Sachs (GS), Credit Suisse (CS), JPMorgan (JPM), Citigroup (C) and Mandiri Sekuritas to sell down its holding by at least 5.68%. Reference Link
July 1, 2015
07:57 EDTGSU.S. banks not facing significant direct losses on Greek default, WSJ says
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June 30, 2015
12:33 EDTGSGoldman Sachs charged by SEC for violating market access rule
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June 28, 2015
16:42 EDTGSGoldman Sachs will look to other countries if Britain leaves EU, Reuters says
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June 25, 2015
07:56 EDTGSMLB Advanced media considering IPO, NY Post reports
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07:13 EDTGSFed director says full transparency in stress testing can be 'enormous weakness'
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June 24, 2015
10:00 EDTGSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
06:37 EDTGSDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
06:27 EDTGSGoldman Sachs downgraded to Hold from Buy at Deutsche Bank
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June 23, 2015
06:53 EDTGSPSAV prepares for IPO that could raise roughly $300M, Bloomberg says
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