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“It’s less human capital, it’s more platform driven,” said chief financial officer Stephen Scherr. Star traders and elite investment bankers are meant to bring in the dosh with their brilliance and connections.
Sonal Shah worked at Goldman Sachs from 2004 to 2007 as a vice president, according to her LinkedIn page. She then worked for Google as its head of global development initiatives from 2007 to 2009.
Loan growth, higher mortgage banking income and relatively higher rates support BB&T's (BBT) Q2 earnings. However, higher costs and a modest decline in deposits are undermining factors.
Booming stock markets around the globe helped Goldman Sachs Group Inc offset declines in other businesses last quarter, but those gains may not be sustainable, analysts said. The biggest contributor to the bank's profits was the $1.5 billion it notched from its own equity investments – including $375 million from electronic trading company Tradeweb – some of which it sold during the second quarter. Its investment bankers also handled more stock offerings than any rivals during the period, which in turn helped boost revenue from equity trading, where Goldman is also nabbing market share.
The ins and outs of the 1MDB money laundering and bribery scandal will be played out in a Brooklyn courtroom from May 11 next year if former Goldman Sachs banker Roger Ng fails to reach a plea agreement with US prosecutors before then. US District Judge Margo Brodie set the preliminary date for the hearing of Mr Ng, who stands accused of participating in an international fraud that led to billions of dollars raised by Goldman Sachs being misappropriated before it could reach the coffers of Malaysia’s development fund, Goldman’s client. Lawyers for both Mr Ng and for the Department of Justice told Judge Brodie that talks over a potential plea bargain are continuing, and that a deal could be reached before the case reaches trial.
EBAY has displayed a sharp rally so far in 2019, surging 42.5% since January 1st, far outperforming the e-commerce sector. Analysts have been increasing long term earnings estimates, propelling EBAY into a Zacks Rank 1 (Strong Buy).
EBay Inc. was added to the Zacks Rank 1 (Strong Buy) list on Tuesday, with the company set to report its quarterly earnings results Wednesday after the market closes. YTD, EBAY is up 42.5%.
Investing.com – Levi Strauss led the slump in apparel stocks Tuesday after Goldman Sachs (NYSE:GS) signaled it was time to move out of apparel brands who rely on department stores to flog their branded merchandise amid fears that increasingly unfashionable performances await in the second half of the year.
Wall Street???s rally ended on Tuesday after President Donald Trump expressed his doubts about a near term solution to the lingering trade battle between the United States and China.
Modest loan growth, higher rates and prudent cost management aid BofA's (BAC) Q2 earnings. However, dismal trading and investment banking performance, and rise in provisions pose concerns.
U.S. Bancorp's (USB) Q2 performance reflects higher revenues, aided by growth in loan balances, partly offset by elevated expenses and provisions.
By John Jannarone What’s virtually immune to the economy, technological change, and the Amazon effect? The need to get children out of the house every now and then. Perhaps the best way to bet on that phenomenon is investing in Chuck E. Cheese, a children’s entertainment destination and restaurant founded in 1977 whose prospects are […]
Wells Fargo (WFC) posted better-than-expected second-quarter results on Tuesday. The bank’s revenues and EPS beat analysts' expectations.
Investing.com - Bank of America (NYSE:BAC) followed its Wall Street rivals in reporting a second quarter that showed strength in its consumer and business lending, offset by a decline in revenue at its investment bank that reflected the growing impact of trade disputes and slowing growth on financial markets.
Investors have long fretted about falling interest rates hitting growth at even the best-managed lenders. Announcing a mixed set of second-quarter results, JPMorgan cut its 2019 outlook for lending profits by half a billion dollars in expectation of multiple rate cuts from the Federal Reserve, which will compress lending margins. BofA matched that and more, taking almost a billion out of its outlook.