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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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April 16, 2014
15:17 EDTGSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include General Electric (GE), consensus 32c; Philip Morris (PM), consensus $1.16; Schlumberger (SLB), consensus $1.20; PepsiCo (PEP), consensus 75c; Union Pacific (UNP), consensus $2.37; UnitedHealth (UNH), consensus $1.09; Honeywell (HON), consensus $1.26; Goldman Sachs (GS), consensus $3.44; du Pont (DD), consensus $1.59; Morgan Stanley (MS), consensus 60c; Danaher (DHR), consensus 80c; BlackRock (BLK), consensus $4.14; Blackstone (BX), consensus 55c; Chipotle Mexican Grill (CMG), consensus $2.86; Mattel (MAT), consensus 9c; Snap-on (SNA), consensus $1.54; AutoNation (AN), consensus 74c.
14:12 EDTGSGoldman Sachs April 157 straddle priced for 2.5% move into Q1
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07:16 EDTGSGoldman Sachs volatility flat into Q1 and revenue outlook
Goldman Sachs April call option implied volatility is 39, July is at 21, October is at 20; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q1 results before the open on April 17.
06:32 EDTGSGoldman Sachs tries to jump start stock-trading business amid concerns, WSJ says
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April 14, 2014
08:31 EDTGSBlackstone and Goldman Sachs to acquire Ipreo from KKR
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07:20 EDTGSKKR to sell Ipreo to Blackstone, Goldman Sachs for $975M, Financial Times says
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07:10 EDTGSNBG picks Goldman, Morgan Stanley to manage share offering, Reuters says
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April 11, 2014
15:44 EDTGSTyson, Post final contenders to buy Michael Foods, Reuters says
Michael Foods, the egg and dairy products maker that has been put up for sale by Goldman Sachs' (GS) private equity arm, is evaluating binding bids from Tyson (TSN) and Post (POST) and is near a deal to be sold to one of the two for close to $2.5B, according to Reuters, citing people familiar with the matter. Reference Link
07:37 EDTGSGoldman, Morgan, Citi probed by FINRA over bond deals, WSJ says
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April 10, 2014
08:15 EDTGSGoldman COO says company committed to Brazil operations, Reuters says
Goldman Sachs COO Gary Cohn asserted that the company is committed to retaining its investment-banking operations in Brazil as part of its world-wide footprint, according to Reuters, citing comments from Cohn. Reference Link
07:55 EDTGSGoldman joined by RBC in suing clients after Singapore crash, Bloomberg says
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06:35 EDTGSMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
06:51 EDTGSGoldman, Warburg move forward in China Huarong sale, Reuters says
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06:35 EDTGSRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTGSBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
April 8, 2014
18:56 EDTGSOn The Fly: After Hours Movers
NOTABLE: General Motors (GM) was fined by the National Highway Traffic Safety Administration for failing to respond to the agency's inquiry into the company's recall of faulty ignition switches in a timely manner... According to a report by The Wall Street Journal, Goldman Sachs (GS) executives have broached the subject of closing its dark pool trading operation, Sigma X. HIGHER: Constant Contact (CTCT), up 13% after giving a preliminary first quarter revenue outlook that beat estimates and raising its fiscal 2014 revenue guidance... Alcoa (AA), up 2.5% after reporting adjusted profit that beat estimates on revenue that missed expectations. LOWER: Intuitive Surgical (ISRG), down 9.5% after giving a first quarter revenue outlook that widely missed expectations and saying it will take a $67M charge in the quarter related to legal settlements.
18:29 EDTGSGoldman Sachs considers shutting down dark pool Sigma X, WSJ reports
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06:46 EDTGSGoldman expects Orban risk as Hungary bonds suffer, Bloomberg says
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April 7, 2014
19:57 EDTGSFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:28 EDTGSGoldman sees opportunity to slice China junk debt after gains, Bloomberg says
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