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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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September 18, 2014
14:08 EDTGSBanks look to high-interest personal loans to boost revenue, WSJ says
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September 17, 2014
13:16 EDTGSHolder says DOJ looking to charge bank executives, Washington Post says
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September 16, 2014
14:44 EDTGSVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
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07:51 EDTGSGoldman Sachs-led investor group backs Privia Health for national expansion
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07:19 EDTGSCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
September 15, 2014
07:49 EDTGSDOJ, FBI 'flip' bank informants as part of forex probe, WSJ says
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September 12, 2014
07:41 EDTGSBank lending grew in quarter, with Capital One leading pack, WSJ reports
Total loans outstanding at U.S. banks and thrifts grew by $178.5B in the second quarter, with Capital One Financial (COF) leading the big banks by growing its loans at an annualized rate of 12.5%, according to SNL Financial data, reported The Wall Street Journal. SNL said 14 of the 15 largest U.S. banks increased their lending, with only Bank of America (BAC) issuing fewer loans than the quarter before, largely attributed to a drop in U.S. closed-end residential mortgages, the report noted. Other publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:35 EDTGSApple getting discounted card fees for Apple Pay, NY Times reports
Banks are charging Apple lower than usual credit card fees for the tech giant's new mobile payment system, according to The New York Times. The banks hope that participating in Apple Pay will enable them to process transactions that aren't currently being paid for with credit cards, the newspaper explained. The banks and credit card networks also hope to use Apple Pay to prevent technologies that don't incorporate banks from becoming popular, The Times reported. Publicly traded credit card networks include American Express (AXP), Capital One (COF), Discover (DFS), MasterCard (MA) and Visa (V). Publicly traded banks 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
September 11, 2014
07:21 EDTGSBankruptcy bill focused on big bank failure moves past committee, WSJ says
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06:43 EDTGSGoldman Sachs to manage $2B of NY pension fund, NY Post reports
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September 10, 2014
14:30 EDTGSPension fund gives Goldman Sachs $2B to invest, Reuters reports
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10:31 EDTGSFortress hires Goldman's Adam Rosenberg
Fortress Investment Group LLC (FIG) announced that Adam Rosenberg has joined its Credit Funds business as a Managing Director leading its Gaming & Leisure investment platform. Rosenberg joins Fortress from Goldman, Sachs & Co., (GS) where he was Global Head of Gaming Investment Banking.
07:16 EDTGSRepublicans, Democrats both push for harder 'too big to fail' rules, WSJ says
Lawmakers from both the Republican and Democrat sides of the aisle urged U.S. regulators to push forward additional regulations to ensure the biggest banks aren't "too big to fail," said The Wall Street Journal. Publicly traded large U.S. banks 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
06:35 EDTGSFed may raise capital requirement for some banks to 11.5%, NY Times reports
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September 9, 2014
06:33 EDTGSFed looks set to pressure large banks to shrink, NY Times says
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