Goldman Sachs says Amazon earnings will beat the Street, so buy the stock

Amazon is going to beat the Street when it posts third-quarter earnings at the end of this month, according to Goldman Sachs, so the firm says to buy the stock now.


Amazon is going to beat the Street when it posts third-quarter earnings at the end of this month, according to Goldman Sachs, so the firm says to buy the stock now.
Goldman Sachs says Amazon earnings will beat the Street, so buy the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: pippa stevens
Keywords: news, cnbc, companies, goldman, amazon, buy, beat, sachs, going, stock, posts, month, thirdquarter, earnings, street, firm, end


Goldman Sachs says Amazon earnings will beat the Street, so buy the stock

Amazon is going to beat the Street when it posts third-quarter earnings at the end of this month, according to Goldman Sachs, so the firm says to buy the stock now.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: pippa stevens
Keywords: news, cnbc, companies, goldman, amazon, buy, beat, sachs, going, stock, posts, month, thirdquarter, earnings, street, firm, end


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman Sachs Earnings Q3 2019 miss estimates

Among its four main businesses, the bank’s investing and lending division missed expectations by the largest degree, despite those figures coming down in recent weeks. The division produced $1.68 billion in revenue, a 17% drop from a year earlier and below the $1.74 billion estimate. The business was stung by its holdings in Uber, Avantor and Tradeweb, which drove losses of $267 million in the quarter, Goldman said. Trading revenue modestly exceeded expectations: Equities trading desks produced


Among its four main businesses, the bank’s investing and lending division missed expectations by the largest degree, despite those figures coming down in recent weeks. The division produced $1.68 billion in revenue, a 17% drop from a year earlier and below the $1.74 billion estimate. The business was stung by its holdings in Uber, Avantor and Tradeweb, which drove losses of $267 million in the quarter, Goldman said. Trading revenue modestly exceeded expectations: Equities trading desks produced
Goldman Sachs Earnings Q3 2019 miss estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: hugh son
Keywords: news, cnbc, companies, goldman, 2019, quarter, investing, revenue, estimates, sachs, bank, billion, holdings, miss, earnings, banks, trading


Goldman Sachs Earnings Q3 2019 miss estimates

Goldman Sachs shares fell Tuesday after the firm reported third-quarter profit below Wall Street expectations.

The bank said profit slumped 26% to $1.88 billion, or $4.79 a share, below the $4.81 expected by analysts, according to Refinitiv. Revenue fell 6% to $8.32 billion, slightly above the $8.31 billion expected, on lower results in the firm’s investing and lending and investment banking divisions. The firm also set aside $291 million for credit losses in the quarter, 67% higher than a year earlier.

Goldman shares declined by 3.3%.

Chief Executive Officer David Solomon has been at the helm of Goldman Sachs for a full year, but it’s clear that the bank is still a work in progress.

“Our results through the third quarter reflect the underlying strength of our global client franchise and its ability to produce solid results in the context of a mixed operating environment,” Solomon said in the earnings release. “We continue to execute on our strategic priorities, including investing in important growth opportunities in our existing and new businesses.”

Among its four main businesses, the bank’s investing and lending division missed expectations by the largest degree, despite those figures coming down in recent weeks. The division produced $1.68 billion in revenue, a 17% drop from a year earlier and below the $1.74 billion estimate.

The business was stung by its holdings in Uber, Avantor and Tradeweb, which drove losses of $267 million in the quarter, Goldman said.

Trading revenue modestly exceeded expectations: Equities trading desks produced $1.88 billion, exceeding the $1.79 billion estimate of analysts surveyed by FactSet. Bond trading generated $1.41 billion in revenue, above the $1.36 billion estimate.

Investment banking produced $1.69 billion in revenue, just under the $1.72 billion estimate. Investment management matched the $1.67 billion estimate.

One of Solomon’s key initiatives since taking over in October 2018 — an internal review of the bank’s operations — has sparked departures among several longtime Goldman partners, including trading head Marty Chavez and chief information officer Elisha Wiesel.

The review, meant to boost shareholder returns at the New York-based bank, has also taken longer than initially promised, sowing impatience among investors eager for a resurgence at Goldman. The 150-year-old investment bank is plowing money into new ventures including retail banking and corporate cash management to diversify from its traditional strengths in Wall Street trading, which has been mired in the industry’s multiyear slowdown.

Another area that investors will scrutinize is the bank’s holdings in WeWork and other stakes that lost value in the third quarter. The bank could post a $264 million writedown on its holdings in WeWork, Morgan Stanley analyst Betsy Graseck said in a research note.

While the bank’s investing and lending division, where private equity stakes and public holdings are reported, has helped it beat analysts’ profit estimates in previous quarters, investors may complain that it’s a source of earnings volatility in declining markets.

Other big banks also posted earnings on Tuesday. J.P. Morgan Chase reported record revenue and Citigroup beat earnings estimates.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: hugh son
Keywords: news, cnbc, companies, goldman, 2019, quarter, investing, revenue, estimates, sachs, bank, billion, holdings, miss, earnings, banks, trading


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves premarket: JP Morgan, Goldman Sachs, BlackRock & more

Check out the companies making headlines before the bell:JPMorgan Chase – The bank reported quarterly profit of $2.68 per share, 23 cents a share above estimates. BlackRock – The asset management firm beat estimates by 19 cents a share, with quarterly profit of $7.15 per share. Goldman Sachs – Goldman reported quarterly profit of $4.79 per share, 2 cents a share below estimates. UnitedHealth – UnitedHealth reported adjusted quarterly profit of $3.88 per share, beating consensus by 13 cents a sha


Check out the companies making headlines before the bell:JPMorgan Chase – The bank reported quarterly profit of $2.68 per share, 23 cents a share above estimates. BlackRock – The asset management firm beat estimates by 19 cents a share, with quarterly profit of $7.15 per share. Goldman Sachs – Goldman reported quarterly profit of $4.79 per share, 2 cents a share below estimates. UnitedHealth – UnitedHealth reported adjusted quarterly profit of $3.88 per share, beating consensus by 13 cents a sha
Stocks making the biggest moves premarket: JP Morgan, Goldman Sachs, BlackRock & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, goldman, blackrock, morgan, revenue, service, estimates, sachs, stocks, premarket, moves, biggest, quarterly, cents, share, profit, southwest, street, making, retailer


Stocks making the biggest moves premarket: JP Morgan, Goldman Sachs, BlackRock & more

Check out the companies making headlines before the bell:

JPMorgan Chase – The bank reported quarterly profit of $2.68 per share, 23 cents a share above estimates. Revenue also beat Wall Street forecasts, helped by growth in home loans, auto loans, and credit cards.

BlackRock – The asset management firm beat estimates by 19 cents a share, with quarterly profit of $7.15 per share. Revenue came in essentially in line with analyst forecasts. Profit dropped from a year ago, however, as investors shifted money to fixed-income funds and other less profitable accounts.

Johnson & Johnson – The medical device and consumer products maker earned an adjusted $2.12 per share for the third quarter, compared to a consensus estimate of $2.01. Revenue also beat estimates, helped by growth in pharmaceuticals and medical devices.

Goldman Sachs – Goldman reported quarterly profit of $4.79 per share, 2 cents a share below estimates. Revenue was essentially in line with expectations.

UnitedHealth – UnitedHealth reported adjusted quarterly profit of $3.88 per share, beating consensus by 13 cents a share. Revenue came in above forecasts, as well. The company saw higher revenue in both its core health insurance business, as well as its pharmacy benefits management unit. The company also raised its full-year forecast.

Walmart – The retailer has begun its “InHome” service that deliveries groceries directly into a customer’s home refrigerator. The service, which was first announced in June, will start in 3 areas – Kansas City, Pittsburgh, and Vero Beach, Florida.

Southwest Airlines – Southwest pilots are predicting that Boeing’s 737 Max jet won’t return to service until February. Boeing is still targeting a fourth-quarter return, and Southwest – along with United and American – are estimating that the jet will be back in the skies in January. Southwest is the biggest domestic user of the 737 Max jet.

Hilton Grand Vacations – The stock remains on watch after surging yesterday on a Bloomberg report that Apollo Global is offering $40 per share to buy the vacation time-share company.

General Motors – GM and the United Auto Workers union continue to negotiate, with a strike in its fifth week. The UAW has called a Thursday meeting of union leaders from around the nation to update them on the status of the talks.

Deere – Deere is spending billions to ramp up its leasing program, according to The Wall Street Journal, in an effort to combat declining demand for farm tractors and construction equipment.

Bloomin’ Brands – The restaurant chain operator was downgraded to “hold” from “buy” at Deutsche Bank, which is cutting its third-quarter comparable sales estimate for the Outback Steakhouse parent to a 0.6% increase from 1.1%. Deutsche Bank is also becoming more conservative on comparable sales estimates for next year, as well.

Bed Bath & Beyond – Bed Bath & Beyond was upgraded to “overweight” from “sector weight” at KeyBanc, which points to a favorable near-term outlook for the housewares retailer as well as expected improvements in merchandising and operations under a new CEO.

Lowe’s – Lowe’s was upgraded to “overweight” from “neutral” at Piper Jaffray, citing an expected improvement in fundamentals for the home improvement retailer even as Street expectations remain modest.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, goldman, blackrock, morgan, revenue, service, estimates, sachs, stocks, premarket, moves, biggest, quarterly, cents, share, profit, southwest, street, making, retailer


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman Sachs says Amazon earnings will beat the Street, so buy the stock

Amazon is going to beat the Street when it posts third-quarter earnings at the end of this month, according to Goldman Sachs, so the firm says to buy the stock now.


Amazon is going to beat the Street when it posts third-quarter earnings at the end of this month, according to Goldman Sachs, so the firm says to buy the stock now.
Goldman Sachs says Amazon earnings will beat the Street, so buy the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: pippa stevens
Keywords: news, cnbc, companies, goldman, amazon, buy, beat, sachs, going, stock, posts, month, thirdquarter, earnings, street, firm, end


Goldman Sachs says Amazon earnings will beat the Street, so buy the stock

Amazon is going to beat the Street when it posts third-quarter earnings at the end of this month, according to Goldman Sachs, so the firm says to buy the stock now.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: pippa stevens
Keywords: news, cnbc, companies, goldman, amazon, buy, beat, sachs, going, stock, posts, month, thirdquarter, earnings, street, firm, end


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman Sachs is expected to report third-quarter hits from sinking WeWork, Uber stakes

Goldman Sachs may suffer hits to third-quarter results as stakes in once-hot unicorns slammed into the reality of public markets. The bank’s holdings in WeWork, the coworking company whose valuation plunged after its IPO plans collapsed last month, as well as Uber, which has traded lower after its May listing, probably caused writedowns in Goldman’s investing and lending division, according to analysts. Investors are set to scrutinize results from Goldman and J.P. Morgan Chase as banks report th


Goldman Sachs may suffer hits to third-quarter results as stakes in once-hot unicorns slammed into the reality of public markets. The bank’s holdings in WeWork, the coworking company whose valuation plunged after its IPO plans collapsed last month, as well as Uber, which has traded lower after its May listing, probably caused writedowns in Goldman’s investing and lending division, according to analysts. Investors are set to scrutinize results from Goldman and J.P. Morgan Chase as banks report th
Goldman Sachs is expected to report third-quarter hits from sinking WeWork, Uber stakes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: hugh son
Keywords: news, cnbc, companies, writedowns, report, uber, stakes, sachs, unicorns, sinking, hits, thirdquarter, morgan, expected, according, valuation, wework, banks, goldman, results


Goldman Sachs is expected to report third-quarter hits from sinking WeWork, Uber stakes

Goldman Sachs may suffer hits to third-quarter results as stakes in once-hot unicorns slammed into the reality of public markets.

The bank’s holdings in WeWork, the coworking company whose valuation plunged after its IPO plans collapsed last month, as well as Uber, which has traded lower after its May listing, probably caused writedowns in Goldman’s investing and lending division, according to analysts.

Investors are set to scrutinize results from Goldman and J.P. Morgan Chase as banks report third-quarter results starting Tuesday. Estimates for bank profits have been dropping after the Federal Reserve cut rates twice in the quarter, pressuring the industry’s main business of taking in deposits and making loans. But other pitfalls are likely, according to Morgan Stanley analyst Betsy Graseck.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: hugh son
Keywords: news, cnbc, companies, writedowns, report, uber, stakes, sachs, unicorns, sinking, hits, thirdquarter, morgan, expected, according, valuation, wework, banks, goldman, results


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Three before you leave — What to watch for Tuesday including the start of earnings season

Bank earnings on deckWe’ll get quarterly earnings from the four largest U.S. banks with Goldman Sachs, J.P. Morgan Chase, Citigroup and Wells Fargo all reporting before the bell on Tuesday. Goldman may take a $264 million write down on its 1.4% stake in WeWork, said Morgan Stanley analyst Betsy Graseck. Overall earnings season kick offThe unofficial start of third-quarter earnings season kicks off on Tuesday. Earnings for the S&P 500 are expected to decline by 4.6% this quarter, after growing by


Bank earnings on deckWe’ll get quarterly earnings from the four largest U.S. banks with Goldman Sachs, J.P. Morgan Chase, Citigroup and Wells Fargo all reporting before the bell on Tuesday. Goldman may take a $264 million write down on its 1.4% stake in WeWork, said Morgan Stanley analyst Betsy Graseck. Overall earnings season kick offThe unofficial start of third-quarter earnings season kicks off on Tuesday. Earnings for the S&P 500 are expected to decline by 4.6% this quarter, after growing by
Three before you leave — What to watch for Tuesday including the start of earnings season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, season, factset, leave, johnson, quarter, morgan, expected, start, earnings, banks, including, watch, goldman


Three before you leave — What to watch for Tuesday including the start of earnings season

Timothy A. Clary | Getty Images

Here are the most important things to know about Tuesday before you hit the door.

1. Bank earnings on deck

We’ll get quarterly earnings from the four largest U.S. banks with Goldman Sachs, J.P. Morgan Chase, Citigroup and Wells Fargo all reporting before the bell on Tuesday. Wall Street is expecting S&P 500 financial company earnings to drop 2.6% this quarter, according to FactSet, weighed down by the Federal Reserve lowering interest rates twice since July, which pressures bank’s main business of deposits and lending. Some analysts are anticipating disappointing results could come from this year’s over-valued unicorns including Uber’s anticlimactic market debut and pre-IPO bust of WeWork’s valuation. Goldman may take a $264 million write down on its 1.4% stake in WeWork, said Morgan Stanley analyst Betsy Graseck.

2. Overall earnings season kick off

The unofficial start of third-quarter earnings season kicks off on Tuesday. Earnings for the S&P 500 are expected to decline by 4.6% this quarter, after growing by more than 3% in the second quarter, according to FactSet. “Analysts expected declines for the past two quarters that failed to materialize, but the further slowdown in macro data could lead to the first EPS decline since the 2015-16 EPS recession,” said Bank of America equity and quant strategist Savita Subramanian said in a note to clients earlier this month. Along with the major banks, Dow Jones Industrial Average members Johnson & Johnson and UnitedHealth are set to report on Tuesday as well.

3. Manufacturing slump continues?


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, season, factset, leave, johnson, quarter, morgan, expected, start, earnings, banks, including, watch, goldman


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman Sachs stays bullish on the British pound, predicts Brexit deal success

Analysts at Goldman Sachs are maintaining a recommendation to buy sterling, projecting that the pound could rise to $1.30 in the event of a Brexit deal before the October 31 deadline. In a note published over the weekend, Co-Head of Global Foreign Exchange and Emerging Market Strategy Zach Pandl told investors that despite Friday’s substantial rally upon hopes of a Brexit deal, sterling likely has “further to run,” and retained the $1.30 price target initially set on October 4. The currency fell


Analysts at Goldman Sachs are maintaining a recommendation to buy sterling, projecting that the pound could rise to $1.30 in the event of a Brexit deal before the October 31 deadline. In a note published over the weekend, Co-Head of Global Foreign Exchange and Emerging Market Strategy Zach Pandl told investors that despite Friday’s substantial rally upon hopes of a Brexit deal, sterling likely has “further to run,” and retained the $1.30 price target initially set on October 4. The currency fell
Goldman Sachs stays bullish on the British pound, predicts Brexit deal success Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: elliot smith
Keywords: news, cnbc, companies, bullish, sachs, zach, brexit, goldman, british, week, predicts, success, yielded, pound, sterling, stays, deal, 130, weekend


Goldman Sachs stays bullish on the British pound, predicts Brexit deal success

Analysts at Goldman Sachs are maintaining a recommendation to buy sterling, projecting that the pound could rise to $1.30 in the event of a Brexit deal before the October 31 deadline.

In a note published over the weekend, Co-Head of Global Foreign Exchange and Emerging Market Strategy Zach Pandl told investors that despite Friday’s substantial rally upon hopes of a Brexit deal, sterling likely has “further to run,” and retained the $1.30 price target initially set on October 4.

The currency fell by around 0.7% against the U.S. dollar on Monday morning as the U.K. and the European Union enter a critical week of negotiations, with both parties looking to hammer out a Brexit deal before the end of the month.

Hopes of a resolution were dampened over the weekend with several British media outlets reporting that EU negotiators did not believe talks had yet yielded significant progress.

A two-day EU summit commences on Thursday October 17, and if no deal is agreed by October 19, U.K. Prime Minister Boris Johnson is legally bound to request an extension, contrary to one of his key promises upon taking office.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: elliot smith
Keywords: news, cnbc, companies, bullish, sachs, zach, brexit, goldman, british, week, predicts, success, yielded, pound, sterling, stays, deal, 130, weekend


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Netflix will weather onslaught of new streaming services, says Goldman

Netflix faces growing fears that it could lose out in the streaming wars, but Goldman Sachs said in a note to clients on Thursday that the company has fought off competition before, making it likely to weather the storm. But Goldman cut its its 12-month target price from $420 to $360 anyway, citing long-term pressures to subscriber growth and margins. A bevy of new streaming services are set to launch from Disney, Apple, AT&T and others, but Netflix has faced many competitive challenges from tra


Netflix faces growing fears that it could lose out in the streaming wars, but Goldman Sachs said in a note to clients on Thursday that the company has fought off competition before, making it likely to weather the storm. But Goldman cut its its 12-month target price from $420 to $360 anyway, citing long-term pressures to subscriber growth and margins. A bevy of new streaming services are set to launch from Disney, Apple, AT&T and others, but Netflix has faced many competitive challenges from tra
Netflix will weather onslaught of new streaming services, says Goldman Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: annie palmer
Keywords: news, cnbc, companies, streaming, wars, companies, netflix, goldman, competition, youtube, weather, subscriber, analysts, onslaught, services


Netflix will weather onslaught of new streaming services, says Goldman

Netflix faces growing fears that it could lose out in the streaming wars, but Goldman Sachs said in a note to clients on Thursday that the company has fought off competition before, making it likely to weather the storm. But Goldman cut its its 12-month target price from $420 to $360 anyway, citing long-term pressures to subscriber growth and margins. The stock currently trades at $274, up more than 2% on Thursday morning.

A bevy of new streaming services are set to launch from Disney, Apple, AT&T and others, but Netflix has faced many competitive challenges from traditional media companies and larger technology companies, Goldman analysts said. Among those include HBO, Starz, Amazon, Google’s YouTube, Viacom and Comcast’s Sky.

The analysts put together this chart, reprinted here with permission, to show that Netflix’s subscriber numbers kept going up and to the right even as competition stiffened:


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: annie palmer
Keywords: news, cnbc, companies, streaming, wars, companies, netflix, goldman, competition, youtube, weather, subscriber, analysts, onslaught, services


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman downgrades Cisco, says trade ‘uncertainty’ is causing businesses to cut spending

The struggling IPO class of 2019 could be facing another wave of… Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year. Marketsread more


The struggling IPO class of 2019 could be facing another wave of… Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year. Marketsread more
Goldman downgrades Cisco, says trade ‘uncertainty’ is causing businesses to cut spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: pippa stevens
Keywords: news, cnbc, companies, ipos, downgrades, stocks, periods, cisco, trade, struggling, businesses, cut, yearmarketsread, goldman, wave, ipo, spending, oflock, pressure, layer, uncertainty, causing


Goldman downgrades Cisco, says trade 'uncertainty' is causing businesses to cut spending

The struggling IPO class of 2019 could be facing another wave of…

Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: pippa stevens
Keywords: news, cnbc, companies, ipos, downgrades, stocks, periods, cisco, trade, struggling, businesses, cut, yearmarketsread, goldman, wave, ipo, spending, oflock, pressure, layer, uncertainty, causing


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman downgrades Cisco, says trade ‘uncertainty’ is causing businesses to cut spending

The struggling IPO class of 2019 could be facing another wave of… Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year. Marketsread more


The struggling IPO class of 2019 could be facing another wave of… Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year. Marketsread more
Goldman downgrades Cisco, says trade ‘uncertainty’ is causing businesses to cut spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: pippa stevens
Keywords: news, cnbc, companies, ipos, downgrades, stocks, periods, cisco, trade, struggling, businesses, cut, yearmarketsread, goldman, wave, ipo, spending, oflock, pressure, layer, uncertainty, causing


Goldman downgrades Cisco, says trade 'uncertainty' is causing businesses to cut spending

The struggling IPO class of 2019 could be facing another wave of…

Lock up periods are expiring for new IPOs, which could introduce a new layer of pressure for some already struggling stocks this year.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: pippa stevens
Keywords: news, cnbc, companies, ipos, downgrades, stocks, periods, cisco, trade, struggling, businesses, cut, yearmarketsread, goldman, wave, ipo, spending, oflock, pressure, layer, uncertainty, causing


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post