Goldman Sachs – News Stories About Goldman Sachs - Page 16

Morgan Stanley Beats Estimates With 42% Q1 Drop

Earnings Report

Mar 19, 2008 7:53 AM CDT

Morgan Stanley Beats Estimates With 42% Q1 Drop

No. 2 investment bank beats analysts, but earnings fall again

(Newser) - A day after posting its biggest gain on Wall Street in more than a decade—shares rose 18% to $42.86—securities firm Morgan Stanley today reported a second straight quarterly loss, as first quarter earnings fell 42% to $1.55 billion, from $2.67 billion a year ago, reports...

Stocks Blast Off; Dow Rises 420

MARKETS

Mar 18, 2008 3:47 PM CDT

Stocks Blast Off; Dow Rises 420

Worries lessen that investment banks are doomed

(Newser) - Stocks blasted off today, with the Dow up more than 400 points after the Fed rate cut and a rally by investment bank stocks. "The run on the investment banks would appear to be over,'' a strategist told Bloomberg. The Dow ended up 420.41 at 12,392....

Goldman Drops 53%,
Beats Analysts' Estimates

Earnings Report

Mar 18, 2008 7:54 AM CDT

Goldman Drops 53%, Beats Analysts' Estimates

Giant brokerage writes off $2.1 billion, sees revenues fall 35%

(Newser) - Goldman Sachs today beat analysts' dire predictions even though it reported a 53% drop in first-quarter profits—the worst falloff since 1999—after a $2.1 billion writeoff, reports Bloomberg. Analysts had expected the Wall Street brokerage to see profits drop more than 60%. Goldman said net income was $1....

Goldman Sachs Switches Forecasters

Mar 18, 2008 6:39 AM CDT

Goldman Sachs Switches Forecasters

'Belle of the bull market' Cohen has more pessimistic successor

(Newser) - Goldman Sachs has replaced its famously bullish chief forecaster, Abby Joseph Cohen, with a less upbeat analyst, Bloomberg reports. Cohen will remain as senior investment strategist, handing over the daily predictions to David Kostin. Kostin sees a decline for the S&P 500 to 1160 in the short run,...

Investors Ask: Who's Next?

Mar 17, 2008 6:54 AM CDT

Investors Ask: Who's Next?

Wall Street survived the near-collapse of Bear Stearns, but there's more trouble ahead

(Newser) - Wall Street, reeling over JP Morgan’s bargain-basement purchase of Bear Stearns, is anxiously watching to see “who’s next” to succumb to the continuing credit squeeze, reports the Financial Times. As investment banks prepare to release first quarter results this week—led by Goldman Sachs and Lehman Brothers...

Goldman Analysts Warn of Next Crisis

Mar 3, 2008 4:10 PM CST

Goldman Analysts Warn of Next Crisis

Commercial real estate outlook even worse than subprime situation

(Newser) - Commercial real estate could be the next victim of the current economic downturn, and if it is, expect it to cause another full-fledged crisis, the Wall Street Journal reports. Commercial real estate values could fall as much as 26% over the next 2 years, Goldman Sachs analysts predict, leading to...

Goldman Predicts Recession

Jan 10, 2008 12:31 PM CST

Goldman Predicts Recession

Wall Street's top firm sees two unhappy quarters ahead

(Newser) - Goldman Sachs is predicting that the economy will slide into a recession this year—which has Wall Street worried, because Goldman’s been right about everything else. The investment firm forecasts a mild pullback extending over two quarters, driving up already-growing unemployment. “If we don't get job growth we...

Goldman Sees Bigger Losses for Big Banks

Dec 27, 2007 10:24 AM CST

Goldman Sees Bigger Losses for Big Banks

Predicts larger writedowns at Citi, Merrill, JP Morgan

(Newser) - Goldman Sachs has some bad news for Citigroup, Merrill Lynch, and JPMorgan Chase: An analyst predicts even bigger fourth-quarter writedowns for all three firms than they've already cottoned to, thanks to continued exposure to collateralized debt. The losses will be “significantly larger than investors are anticipating.” How large...

Goldman Sachs Awards CEO $68M Bonus

Dec 21, 2007 8:07 PM CST

Goldman Sachs Awards CEO $68M Bonus

Blankfein nets huge payday after bank avoids subprime tank

(Newser) - Goldman Sachs gave CEO Lloyd Blankfein a $67.9 million bonus for 2007, believed to be one of the largest such payouts in history, MarketWatch reports. The bonus includes $26.8 million in cash and $41.1 million in stocks. Goldman succeeded this year while rivals foundered in the subprime...

Stocks Climb After Rough Day

MARKETS

Dec 18, 2007 3:40 PM CST

Stocks Climb After Rough Day

Contrary instincts make for roller-coaster session

(Newser) - The market was up and down all day today as investors divided on whether to applaud cash injections and welcome good earnings reports or fret over bad housing numbers and inflation concerns. The Dow ultimately climbed 65.27 to 13,232.47, the Nasdaq added 21.57 to 2,596....

Credit, Economy Bring
M&A Action to a Crawl

Dec 18, 2007 11:40 AM CST

Credit, Economy Bring M&A Action to a Crawl

After a golden year for LBOs, experts see a chilling of a once-hot market

(Newser) - The slowing economy and financing costs that have more than doubled since June because of the subprime collapse could ice the pace of mergers and acquisitions in 2008, Bloomberg reports. After a record $3.9 trillion in deals in 2007, analysts predict transaction value could plummet 20%. "The mega-LBO...

Goldman
Earnings Hit Record

Dec 18, 2007 9:25 AM CST

Goldman Earnings Hit Record

Firm soars on trading, M&A, shorting subprime as others falter

(Newser) - Still sitting pretty above the subprime fray, Goldman Sachs trumped estimates today and reported a 2% jump in profits in the fourth quarter, breaking the annual profit record for the fourth straight year. Goldman shorted subprime mortgages, profiting from the disaster that sank competitors, and in the quarter actually boosted...

Debut of New Goldman Hedge Fund May Break Record at $10B

Dec 17, 2007 5:55 PM CST

Debut of New Goldman Hedge Fund May Break Record at $10B

Firm spawns first in-house private fund

(Newser) - Goldman Sachs will launch a new stock hedge fund next month with as much as $10 billion, making it the biggest hedge fund debut in industry history, Bloomberg reports, and Goldman's first in-house fund of its kind. The fund, Goldman Sachs Investment Partners, will be run by two Goldman department...

Stagflation Jitters Sink Stocks

MARKETS

Dec 17, 2007 3:29 PM CST

Stagflation Jitters Sink Stocks

Greenspan: 50-50 chance of recession

(Newser) - The markets resumed last week’s downward spiral today, with the Dow diving 172.65 to 13,167.20 despite typically buoying news of major deals. The Nasdaq slid 61.28 to 2,574.46 and the S&P closed at 1,445.90, down 22.05. Alan Greenspan said...

Stocks Fall on Credit Worries

MARKETS

Dec 4, 2007 3:39 PM CST

Stocks Fall on Credit Worries

JPMorgan says earnings will drop at big brokerages

(Newser) - Stocks fell again today after JPMorgan Chase predicted that profits would drop at big brokerages. Meanwhile, lower oil prices lowered earning prospects for energy companies, reports Bloomberg. "Until credit loosens up, you can't get a solid footing in the market," says a manager. The Dow was down 65....

J'Accuse

OPINION

Dec 3, 2007 7:53 AM CST

J'Accuse

Ben Stein accuses Goldman Sachs, and its former CEO Henry Paulson, of peddling mortgage securities while betting on, and abetting, their collapse

(Newser) - In an extraordinary New York Times column Republican/libertarian economist, writer, actor, and lawyer Ben Stein accuses Goldman Sachs of being a willing participant in, and even plotting, the collapse of value in the collateralized mortgage obligation (CMO) market. In the last several years Goldman sold $100 billion of the instruments...

Goldman Sits High and Dry in Credit Crunch

Nov 19, 2007 4:48 PM CST

Goldman Sits High and Dry in Credit Crunch

Wall Street envies lone investment firm that got it right

(Newser) - When Goldman Sachs reported $2.85 billion in third-quarter profits, it sounded like an “I told you so.” As most financials reported credit-crunch pratfalls, Goldman alone had read the signs and gone the right way on mortgages. “You’d have to give them an A-plus,” said...

Goldman Leads Wall Street Bonus War

Nov 19, 2007 11:56 AM CST

Goldman Leads Wall Street Bonus War

Under pressure to keep talent, losing firms shell out big

(Newser) - The Big Five Wall Street securities firms will pay $38 billion in bonuses this year—up from $36 billion last year—while shareholders tote up $74 billion in losses, their worst year since 2002, Bloomberg reports. All but Goldman Sachs lost more than 20% of their market value, says an...

Buffett Helps Keep A-Rod
in Pinstripes

Nov 17, 2007 5:36 PM CST

Buffett Helps Keep A-Rod in Pinstripes

Investor told slugger to negotiate deal sans his superagent

(Newser) - When Alex Rodriguez did an end run around agent Scott Boras to make a deal with the Yankees, he wasn't without high-powered advice, reports the Wall Street Journal: Warren Buffett told him to do it. A worried A-Rod called the Sage of Omaha, a personal friend, as sports scribes blasted...

Goldman Sees $2T Credit Shortfall, Major Slowdown

Nov 16, 2007 10:44 AM CST

Goldman Sees $2T Credit Shortfall, Major Slowdown

Nobel winner, investment firm warn of growing risk

(Newser) - The subprime mortgage crisis that has cost financial companies $400 billion and triggered what one banker is calling the worst housing market since the Great Depression will force a $2 trillion credit squeeze that could set off a “substantial recession” in the US, reports Bloomberg. Goldman Sachs said the...