199.11 +0.02 (0.01%)
After hours: 7:56PM EST
|Bid||198.65 x 900|
|Ask||199.45 x 900|
|Day's Range||192.83 - 199.80|
|52 Week Range||151.70 - 275.31|
|Beta (3Y Monthly)||1.07|
|PE Ratio (TTM)||14.52|
|Earnings Date||Apr 15, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||3.20 (1.82%)|
|1y Target Est||226.91|
Former top economic advisor to President Donald Trump Gary Cohn says shutdown makes no sense. He left the administration last year.
When the going gets tough on Wall Street, brokers can lose money too, just like their customers. There’s a scene in the classic 1983 movie “Trading Places,” in which the Duke brothers, played by Ralph Bellamy and Don Ameche, explain to Eddie Murphy’s character Billy Ray Valentine that whether their clients make money or lose money, their brokerage Duke & Duke makes money.
Investment banking giant Morgan Stanley fell well short of Q4 earnings and revenue forecasts, after rival Goldman Sachs turned in blowout earnings .
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased The Goldman Sachs Group, Inc. securities between February 28, 2014 and December 17, 2018, inclusive .
Investors ignored Goldman Sachs' (NYSE:GS) Malaysian 1MDB scandal on Jan. 16, sending the stock up 10% after it beat earnings estimates. The price of Goldman Sachs stock rose as high as $197, but nudged downward below $195 as the hangover from that party set in. Goldman said it earned $2.54 billion, $6.04 per share, during the quarter, on revenues of $8.08 billion. This easily eclipsed estimates of $4.54 per share of earnings on revenue of $7.55 billion. During the quarter Goldman, known entirely as an investment bank, proved it can do retail banking, luring $7 billion in UK deposits through Marcus, an online bank paying high interest rates. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Analysts at other banks were impressed, although some noted that expectations had been low. One analyst even predicted the stock could rise another 25%, as its price is still lower than Goldman's book value. * 7 Stocks to Buy as the Dollar Weakens ### The 1MDB Scandal and Goldman Sachs Stock But the hangover of the 1MDB scandal still hangs over the stock, and before buying you need to hear the story. Malaysia is seeking $7.5 billion from Goldman, which raised $6 billion for a government-backed fund that wound up becoming a slush fund for former President Najib Razak, his associates, and a financier named Jho Low, now a fugitive in China. Along the way Goldman collected $600 million in fees. The scandal brought down the Najib government and brought Mahathir Mohamad, now 93, out of retirement as president, with a mandate to find and punish the guilty. The new government insists Goldman knows where all the money went. The question for courts is whether Goldman Sachs is criminally liable, or just Tim Leissner, the former head of the bank's Southeast Asia department, who has already pled guilty and could wind up with 10 years behind bars. Goldman says Leissner is entirely to blame, but Malaysia disagrees. People who are bullish on Goldman stock assume there will be some penalty levied against the firm, just nothing close to what prosecutors want. New Goldman CEO David Solomon took the unusual step of apologizing on the earnings call to Malaysia for Leissner's actions, but also spread the blame around. "It's very clear that the people of Malaysia were defrauded by many individuals, including the highest members of the prior government," he said. Basically, it's the government's fault too and Goldman was lied to. The size of the penalty levied against Goldman may turn out to be a political decision, as the U.S. tries to maintain relations in the face of growing Chinese power. Another reason to be bearish on Goldman Sachs stock comes from Goldman's own analysts, whose outlook for 2019 warns of slowing growth ahead. Goldman is also concerned that the recent bear market could turn into a self-fulfilling prophecy as people with money slow their spending. If the global bull market is ending, it can't mean anything good for Goldman's stock. ### The Bottom Line on Goldman Sachs Stock Regardless of how the courts rule in the Malaysia case, Goldman is unlikely to disappear. It has a market cap of $77 billion, and over $110 billion of cash on its books. Its Tier 1 ratio, measuring its ability to weather a market downturn, is now at 13.3%, on par with JPMorgan Chase (NYSE:JPM). Book value per common share reached over $207 by the end of the year, up about 15%, even while the stock fell 10.5% over the last 12 months. In conventional terms it's right to call Goldman Sachs stock a bargain. The question is whether these are conventional times. Dana Blankenhorn is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family, available now at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Growth Stocks With the Future Written All Over Them * 7 Reasons Why Buffett's Bet on Apple Stock Is a Good One * 10 Companies That Could Post Decelerating Profits Compare Brokers The post The 1MDB Scandal Won't Really Hurt Goldman Sachs Stock appeared first on InvestorPlace.
LOS ANGELES, CA / ACCESSWIRE / January 17, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against The Goldman Sachs Group, Inc. (''Goldman Sachs'' or ''the Company'') (NYSE: GS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's shares between February 28, 2014 and December 17, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before February 19, 2019.
Bank of America (BAC) followed up with a very impressive record earnings report, and Morgan Stanley (MS) is next. Warning! GuruFocus has detected 1 Warning Sign with GS. If we take a dive into Goldman Sachs' balance sheet and its components, for example, we can see the hard evidence that we are not anywhere near a 2008 scenario, despite housing prices arguably starting to cool a bit.
Both stocks are being sold off on poor earnings. In a world where geopolitics, domestic politics and international trade are cited by so-called experts (who are not expert in any of those fields) as reasons for stock market declines, the performance of Ford and Morgan Stanley shares this week is actually reassuring. Poor earnings are supposed to drive poor stock performance.
NEW YORK, NY / ACCESSWIRE / January 17, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against The Goldman Sachs Group, Inc. ("Goldman Sachs" ...
Freshman Congresswoman Alexandria Ocasio-Cortez will joing the House Financial Services Committee. Yahoo Finance's Adam Shapiro, Julie Hyman, and Brian Cheung discuss.