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Goldman Sachs just let slip how badly a key business is performing

“While Goldman Sachs had previously said that the second quarter was the worst in commodities in the firm’s history as a public company, Chavez wouldn’t be drawn on the scale of the underperformance, or the extent to which it was dragging down every other business in FICC. Get the latest Goldman Sachs stock price here” writes Matt Turner for businessinsider.com. The US bank on Tuesday reported third-quarter earnings, posting a quarter-on-quarter increase in FICC revenues. Source: businessinsider.com Share This:

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Goldman Sachs results poor, but better than forecasts

“The bank started the year off with flat bond trading, while the rest of Wall Street showed wide gains” reports nypost.com. Goldman, which has struggled to boost earnings this year, overall posted $8.33 billion in profit, a 2-percent increase from last year.Indeed, this is the first quarter this year that Goldman hasn’t completely botched its earnings compared to analysts’ expectations. Source: nypost.com Share This:

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The president of Goldman Sachs says the perfect résumé won’t get you the job — here’s what will

“David Solomon, the president and co-COO of Goldman Sachs, recently shared his best career advice on the firm’s podcast, “Exchanges at Goldman Sachs.”” writes Frank Chaparro for businessinsider.com. A perfect resume isn’t enough to find career success, according to one of the most powerful men on Wall Street. Source: businessinsider.com Share This:

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News Oil 

Goldman sees US-Iran tensions presenting long-term threat to global oil supply

“Goldman Sachs said Tuesday that while clashes in the Kurdistan region of Iraq posed a risk to oil output, intensifying geopolitical tensions between the U.S. and Iran remained a more formidable and longer-term threat to global oil supply” writes unknown author for cnbc.com. After several weeks of fairly flat trade, a risk premium has returned to oil markets and boosted global prices.If they are, we expect that several hundred thousand barrels of Iranian exports would be immediately at risk,” analysts at Goldman Sachs said in a research note published Tuesday.On…

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Goldman: Bet against GE, dividend cut is coming

“Goldman is the second high-profile Wall Street firm in as many weeks to raise concerns about the GE dividend” writes unknown author for cnbc.com. “Our fresh look at GE’s fundamentals leaves us incrementally bearish, as we see a significant EPS/FCF reset and a potential dividend cut to come,” wrote analyst Joe Ritchie in the report.Goldman says the options market is pricing in a cut of the payout to 78 cents in 2018.General Electric may likely cut its dividend soon as it looks to simplify its businesses and streamline its accounting…

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News Stocks 

Goldman Sachs stock jumps as earnings crush estimates

“Goldman said it had third-quarter net revenue of $8.3 billion, or per-share earnings of $5.02, up from $8.2 billion and $4.88, in the year-ago quarter” writes Andrea Riquier for marketwatch.com. GS, +1.63% jumped more than 1 percent in pre-market trading after the bank reported third-quarter results that handily beat market expectations.But revenues from trading of fixed income, currencies and commodities sank 26% for the year.Investment banking revenue was 17% higher than in the third quarter of 2016, the bank said. Source: marketwatch.com Share This:

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Markets News Stocks 

Goldman Sachs’ chief equity strategist says there is an 88% chance we’re heading into a bear market

“If a bear market does happen it will be a roller coaster ride” writes Jim Edwards for businessinsider.com. However, Oppenheimer also believes that a bear market is currently being held back by low inflation, which in turn will force central banks to keep interest rates very low.Most of their data focus on the US S&P 500 index of stocks – the largest and most-followed of the share indices globally. Source: businessinsider.com Share This:

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Goldman’s global equity chief sees signs of a market top, but says investors shouldn’t worry

“The investment bank has built a “Bear Market Risk Indicator” to gauge when a market may have topped out” writes David Reid for cnbc.com. “The second point is when you get a bear market it doesn’t start with a huge collapse in one direction.Oppenheimer said using 200 years of U.S. data, Goldman splits bear markets into three categories: cyclical bear markets, which typically relate to the economic cycle; event-driven bear markets (such as a war or oil price shock); and structural bear markets, triggered by structural imbalances and financial bubbles.Goldman’s…

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Goldman Sachs is buying a lender that specializes in house flippers

“Goldman Sachs Group Inc has agreed to buy private mortgage lender Genesis Capital LLC as the Wall Street bank looks to new businesses for growth while trading revenue remains sluggish” writes Olivia Oran for businessinsider.com. Goldman is grappling with ways to boost revenue as trading, its traditional profit engine, has slowed amid post-financial crisis regulations.Lending to house-flippers is another way in which Goldman can put its deposits to work.Pushing more deeply into lending to both large corporations and consumers, Goldman purchased $17 billion worth of online retail deposits last year…

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