|Bid||192.63 x 1800|
|Ask||193.47 x 900|
|Day's Range||191.68 - 194.07|
|52 Week Range||151.70 - 245.08|
|Beta (3Y Monthly)||1.22|
|PE Ratio (TTM)||8.03|
|Earnings Date||Jul 15, 2019 - Jul 19, 2019|
|Forward Dividend & Yield||3.40 (1.65%)|
|1y Target Est||229.32|
Goldman Sachs will use newly acquired United Capital to speed up its assault on middle America’s wealth management market, deploying an army of investment advisers to target the employees of corporate clients. The new business will operate alongside Ayco, the workplace financial counselling service Goldman had been using to target mass-market wealth management. “United Capital ramps up our growth plan by five years,” Ayco chief executive and Goldman Sachs partner Larry Restieri told the Financial Times in an interview.
The Texas Republican disclosed Friday that a joint account that he owns with his wife Heidi sold $50,001 to $100,000 of the investment bank’s shares earlier in May.
HARRISBURG, Pa. (AP) — Pennsylvania's treasury department is accusing about a dozen large financial firms of working together to illegally inflate the price of bonds issued by Fannie Mae and Freddie Mac over seven years.
Goldman Sachs raised its probability of a no-deal Brexit to 15% from 10% on Friday as Prime Minister Theresa May's resignation potentially opened the way for a more hardline politician to lead the UK to exiting the European Union. Goldman Sachs economist Adrian Paul said ratification of a Brexit deal would no longer be possible in the second quarter. "We pencil in an orderly EU withdrawal in late 2019 or early 2020, but our conviction is low," he wrote.
If any company can take a cryptocurrency mainstream, it is Facebook. Facebook’s answer, according to several people familiar with its secretive “Libra” project, will be to try to launch a “stablecoin”, a digital currency pegged to the dollar. If successful, the Facebook coin could not only allow payments and transfers within the Facebook empire, but could also be stored on digital wallets and spent in shops, or exchanged into traditional currencies.
United Capital’s founder says the $750 million acquisition by a Wall Street institution isn’t a sellout but rather the next step in transforming the wealth management landscape.
The U.S. Department of Justice handed over to Ng's lawyers a "small subset" of more than 1 million documents the government is relying on to prosecute the case, said Assistant United States Attorney Drew Rolle during a hearing at a Brooklyn federal court. The United States accused 46-year-old Ng last year of conspiring to launder money and bribe government officials in Malaysia and Abu Dhabi through bond offerings that Goldman Sachs Group Inc handled. Ng pleaded not guilty to the charges on May 6 and was released in exchange for a $20 million bond.
Former Goldman Sachs Group Inc banker Roger Ng is unlikely to get a plea deal this week on criminal charges linked to a multibillion-dollar scandal at the Malaysian state investment fund 1MDB, both sides told Reuters on Thursday. Plea negotiations are not yet on the agenda, a lawyer for Ng and a spokesman for the U.S. Department of Justice said. Instead, they plan to only discuss scheduling for case proceedings at a Brooklyn federal court.
Goldman Sachs’s credit traders had positioned themselves through a default-swaps wager that would have benefited if Weatherford managed to avoid near-term death, even if its longer-term prospects remained bleak, according to people with knowledge of the matter. The trade is notable for its sudden collapse and is likely to rank among the duds this quarter for the leveraged-finance trading team led by Tom Malafronte. In this case, the desk was selling short-dated credit swaps contracts, expecting Weatherford to avoid default over the next year while purchasing longer-term derivatives that would still benefit from an eventual collapse for the oilfield services provider.
It was 2016 and Goldman Sachs Group Inc. decided the time was right to pump money into a Sao Paulo startup looking to reinvent the country’s financial industry, starting with zero-fee credit cards. The venture, now widely known in Brazil as Nubank, for Nu Pagamentos SA, has reached 8.5 million consumers and sold private shares in itself with a $3.6 billion valuation. If it keeps expanding at its current rate, it will soon become the fourth-biggest card issuer in Latin America’s largest economy, and it’s starting to expand abroad.
FT premium subscribers can click here to receive Due Diligence every day by email. Few on Wall Street or in Silicon Valley believe the battle between Morgan Stanley and Goldman Sachs will shake out the same way in one category. The next three banks — Bank of America, Allen & Co and Citigroup — earned less than a third of their bounty, according to data provider Refinitiv.
For a midsized accounting firm founded in the picturesque French cathedral city of Rouen, Mazars has picked up some surprisingly high-profile clients. , the world’s largest investment bank, confirmed it had selected Mazars to audit its European businesses in London and Frankfurt — a huge victory for a firm that ranks eighth in the UK in terms of its revenues. A US judge said he would not block a subpoena issued to Mazars USA seeking access to Mr Trump’s financial records, as part of a long running political inquiry into the president’s business interests.
Goldman Sachs and Morgan Stanley have distinct ways of doing business, with one focusing on high rewards and the other on caution.
Goldman Sachs announced today that it has completed the final close for its latest performing senior credit vehicle, Broad Street Senior Credit Partners II .
Paint and coatings stocks have retreated toward support amid trade tariffs and margin pressure. Brush up on three trading ideas to play a rebound.
Morgan Stanley, Goldman Sachs and JPMorgan Chase have a vice-like grip on advising top technology companies. After Uber and Lyft’s weak initial public offerings, rival banks are hoping for some market disruption. “The quality of deal execution is being called into question more, by both corporates and VCs [venture capital firms],” said David Hermer, head of equity capital markets at Credit Suisse, noting that a “small number of banks have a disproportionate share of leadership roles in technology IPO”.
It has also been amended to reflect that shares of Arabian Centres are due to start trading on Wednesday. It will be the biggest initial public offering since the $6bn listing of lender National Commercial Bank in late 2014.
There are a few reasons why Goldman Sachs will not touch Deutsche Bank with a 10- foot pole. First, and foremost, Deutsche Bank does not meet the capital requirement required by US regulators as its leverage ratio is well below the 5 per cent minimum as against 8.5 per cent for Goldman Sachs. This thin sliver of capital is meant to be a backstop for the risk in €1.4tn of total assets, three times Goldman’s exposure.
FT premium subscribers can click here to receive Due Diligence every day by email. One thing to start: DD has teamed up with Murad Ahmed, sports correspondent, to launch the FT Business of Football summit. The inaugural event is today at Claridge’s in London.
This market's gotten real simple, real fast. We've got a new rubric to judge stocks. Too much Chinese exposure and you're toast. But if you've got little or no Chinese exposure, your stock can rally, even on a not-so-hot day like this one.