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Goldman Sachs stock price target raised to $245 from $221 at BMO Capital
Morgan Stanley said its first-quarter profit rose 40%, following other big Wall Street banks that got a boost from lower taxes and more-active markets. Morgan Stanley reported Wednesday quarterly profits of $2.58 billion, or $1.45 a share, on revenue of $11.08 billion. Both were higher than a year ago and surpassed the average analyst estimates of $1.25 a share in earnings and $10.36 billion in revenue, according to Thomson Reuters.
Morgan Stanley said its first-quarter profit rose 38%, following other big Wall Street banks that got a boost from lower taxes and more-active markets. Morgan Stanley reported Wednesday quarterly profits of $2.67 billion, or $1.45 a share, on revenue of $11.08 billion. Both were higher than a year ago and surpassed the average analyst estimates of $1.25 a share in earnings and $10.36 billion in revenue, according to Thomson Reuters.
Big banks just received the first installment of benefits corporate America will reap from the new federal tax law. The haul: more than $2.5 billion. The latest gain came Tuesday when Goldman Sachs Group Inc. reported first-quarter profit that rose 26% from a year earlier. This was aided by a lower corporate tax rate that boosted earnings by about $232 million.
General Electric Co.'s stock was rallying 3.3% in afternoon trade Tuesday, and options traders are prepared for an even bigger move on Friday, after the industrial conglomerate reports first-quarter results before the market opens. Based on current at-the-month options expiring at the end of the week, a strategy known as a straddle is priced for the stock to move roughly 5.2% in either direction on Friday. That compares with the average move of 2.0% on the day of the past 20 quarterly reports. The 13 times the stock declined--it has declined after nine of the past 10 quarterly reports--the average one-day selloff was 1.9%. The seven up days average a gain of 2.3%. The stock has now run up 5.5% the past week, but was still down 21.1% year to date, while the Dow Jones Industrial Average has inched up 0.3% this year.
Goldman Sachs Group Inc. reported sharply higher profit on Tuesday, looking more like the balanced firm Chief Executive Lloyd Blankfein has been working to build in the wake of the financial crisis. The Wall Street firm's profits rose 26% from a year ago, the biggest gain among the five big U.S. banks to have reported quarterly earnings so far.
Shares of Goldman Sachs Group Inc. slumped 1.1% in midday trade, as they started reversing earlier gains of as much as 1.7% just as the investment bank's post-earnings conference call kicked off. The share initially rallied after Goldman reported first-quarter profit and revenue that rose well above expectations. The stock's intraday high of $262.25 was hit in the opening couple minutes, while the conference call began at 9:30 a.m. ET. After spending $800 million on share repurchases during the first quarter, Chief Financial Officer Martin Chavez said on the call that given current capital levels, he didn't expect Goldman to execute share repurchases in the current quarter, according to a transcript provided by FactSet. Instinet analyst Steven Chubak said while results were "solid," they should spark "significant tug-of-war" among investors, as broad-based revenue strength is balanced with lower-quality revenue sources, such as from equity investing and the continued underperformance of its FICC (fixed income, commodities and currencies) business. The stock has gained 0.1% year to date, while the SPDR Financial Select Sector ETF has slipped 0.6% and the Dow Jones Industrial Average has gained 0.5%.
Shares of Goldman Sachs Group Inc. early Tuesday were producing one of the most significant drags on the Dow Jones Industrial Average, pivoting lower after showing strong gains at the open. Shares of the prominent investment bank were exacting a 22-point toll on the Dow . The Dow component had traded as high as $262.25 on the session, but was most recently trading at $254.83, down 1.3%. Goldman Sachs reported higher profit and revenue from a year ago. Meanwhile, the Dow was up 224 points, or 0.9%, at 24,795, while the S&P 500 index was up 0.9% at 2,701, and the Nasdaq Composite Index traded 1.2% higher at 7,245. Goldman held a call to discuss its results with analysts at 9:30 a.m. Eastern, just before the start of regular trade on Tuesday.
The Dow Jones Industrial Average rose firmly higher to open Tuesday trade with the lion's share of those gains coming from two names. UnitedHealth Group Inc. was delivering a 55-point jolt to the blue-chip average, while shares of Boeing Co. were adding about 40 points. UnitedHealth Group lifted guidance after reporting a nearly 31% profit rise in its latest quarter. More broadly, the blue-chip benchmark was enjoying a bounce from upbeat corporate results from companies including Goldman Sachs Group Inc. , which reported higher profit and revenue from a year ago, and Johnson and Johnson , which lifted its outlook for sales after reporting results that were better than expected. Most recently, the Dow was was up 224 points, or 0.9%. at 24,795, the S&P 500 index was gaining 0.7% at 2,697, and the Nasdaq Composite Index advanced 1% at 7,226.
U.S. stocks opened higher on Tuesday, as equities continued to be supported by strong first-quarter results, including from such heavyweight names as Goldman Sachs and Netflix. The Dow Jones Industrial Average rose 0.9% to 24,792. With the day's gain, the Dow returned to positive territory for the year and rose above its 50-day moving average, which it hasn't closed above since March 9. The S&P 500 added 0.5% to 2,693. The Nasdaq Composite Index rose 0.8% to 7,215. The day's gains were broad, but driven by earnings, which supported the thesis that stock valuations are justified by the level of economic activity. In particular focus were Goldman Sachs , which rose 1.2% after its results, and Netflix Inc. , which jumped 6.7% after reporting higher subscriber growth than had been expected.
Shares of all 30 Dow Jones Industrial Average components were trading higher, as the three companies reporting earnings gave investors reason to cheer. The gainers were leb by the 2.3% jump in UnitedHealth Group Inc.'s stock after the insurer beat profit and revenue expectation. Johnson & Johnson's stock tacked on 0.8% and Goldman Sachs Group Inc. shares gained 0.9% after both companies beat profit and sales expectations. Merck & Co. shares were the second-biggest gainer, up 2.0%. Among other more active Dow stocks, Apple Inc.'s gained 0.6% and General Electric Co.'s tacked o 0.5%. Meanwhile, Dow futures rallied 217 points.
Goldman Sachs Group Inc. reported higher profit and revenue from a year ago, catching the wave of lower taxes and newly active markets that boosted other big banks' quarterly earnings. Revenue at the Wall Street firm rose to $10.04 billion from $8.03 billion a year ago. Goldman's profit was $2.83 billion, or $6.95 a share, up 27% from the year-ago first quarter when the bank's traders made bad bets on the dollar and interest rates.
Goldman Sachs Group Inc. reported higher profit and revenue from a year ago, catching the wave of lower taxes and newly active markets that boosted other big banks' quarterly earnings. Revenue at the Wall Street firm rose to $10.04 billion from $8.03 billion a year ago. Goldman's profit was $2.83 billion, or $6.95 a share, up from the year-ago first quarter when the bank's traders made bad bets on the dollar and interest rates.
Goldman's stock gains 0.5% premarket after Q1 results
Goldman book value per share as of March 31 $186.73; FactSet consensus $184.18
Morgan Stanley’s first-quarter profit rose 40%, boosted by a combination of strong trading results and the benefit of lower taxes.
Big banks just received the first installment of benefits corporate America will reap from the new federal tax law. The haul: more than $2.5 billion.
U.S. stocks rose Tuesday, driven by strong corporate results, sending the Dow industrials back into positive territory for 2018.
Goldman Sachs reported sharply higher profits, looking more like the balanced firm CEO Lloyd Blankfein has been working to build following the financial crisis.
Goldman Sachs benefited in the first quarter from a turnaround in fixed-income trading, but also progress growing other business lines.
Among the companies with shares expected to trade actively in Tuesday's session are Goldman Sachs, Netflix, Amazon.com, Tesla, Microsoft and Roku.
Transportation companies boosted major indexes Monday, as some strong corporate-profit reports helped investors look past simmering geopolitical tensions.
Despite a potential crackdown on U.S. initial coin offerings, many upstart crypto-trading platforms are barreling into uncharted territory.
Among the companies with shares expected to trade actively in Monday's session are Bank of America, Facebook, General Motors, Tropicana Entertainment and Goldman Sachs.
Goldman Sachs bought personal-finance app Clarity Money, acquiring a mobile storefront for its growing consumer bank.
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Morgan Stanley’s first-quarter profit rose 40%, boosted by a combination of strong trading results and the benefit of lower taxes.
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Goldman Sachs (GS) Q1 2018 Results - Earnings Call Transcript
Big banks just received the first installment of benefits corporate America will reap from the new federal tax law. The haul: more than $2.5 billion.
U.S. stocks rose Tuesday, driven by strong corporate results, sending the Dow industrials back into positive territory for 2018.
Can Goldman Sachs Run With the Pack of Big Banks?
Goldman Sachs reported sharply higher profits, looking more like the balanced firm CEO Lloyd Blankfein has been working to build following the financial crisis.
Goldman Sachs (GS) continued the trend of strong trading revenue that was first evidenced by consumer & investment hybrid banks like JPMorgan Chase (JPM), Citigroup (C), and Bank of America (BAC). Morgan Stanley (MS) investors will hope the company can report similar growth. Let's take a closer look at what the latest estimates are saying.
Nomura's Steven Chubak recognizes a "solid" beat from Godlman Sachs, but is not ignoring a continued weak spot with FICC.[...]
Goldman Sachs Earnings: 12 Things to Know About Q1
Goldman Sachs' (GS) first-quarter 2018 results reflect continued investment banking momentum and strong underwriting business, along with fixed income trading activities outperformance.
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Goldman Sachs benefited in the first quarter from a turnaround in fixed-income trading, but also progress growing other business lines.
Strength in Q1 earnings season, at least in these early stages, has helped bolster market indexes. This continues ahead of Tuesday's market open.
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Goldman Sachs Group, Inc. engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Institutional Client Services, Investing and Lending, and Investment Management. The Investment Banking segment gives financial advisory services and help companies raise capital. The Institutional Client Services segment serves clients who come to buy and sell financial products, raise funding, and manage risk. The Investing and Lending segment includes investing and relationship lending activities; and making investment. The Investment Management segment involves in investment and wealth advisory services. The company was founded by Marcus Goldman in 1869 and is headquartered in New York, NY. (See Full Profile)
Name | Chg % | Market Cap |
---|---|---|
Barclays PLC ADR | $51.81B | |
Morgan Stanley | $94.44B | |
Bank of America Corp. | $307.13B | |
Deutsche Bank AG | $24.1B | |
JPMorgan Chase & Co. | $375.86B |