Latest news with #equitytrading
Yahoo
16-07-2025
- Business
- Yahoo
Goldman Sachs Just Made Wall Street History -- And It's Not Even Close
Goldman Sachs (NYSE:GS) just delivered something Wall Street hadn't seen before: a record $4.3 billion in quarterly equity-trading revenue. That's $600 million above consensus estimates and marks back-to-back record quarters for the trading unit. While rivals like Morgan Stanley and Bank of America saw their numbers slip, Goldman's desks thrived on volatility tied to trade policy shifts under the Trump administration. Intermediation revenue surged 45% from a year ago, and equities financing climbed 23%. Management has been pushing to scale its trading business aggressively and this result could be a signal that strategy is working. Warning! GuruFocus has detected 10 Warning Signs with GS. But it wasn't just trading that fired on all cylinders. Fixed-income revenue clocked in at $3.47 billion, helped by strength in FICC financing, and investment banking fees surged to $2.19 billion including a 71% spike in M&A advisory, though debt underwriting softened slightly. The bank also saw asset and wealth management fees grow 11% year-over-year, even as total net revenue in the segment dipped slightly to $3.78 billion. Goldman recently lifted its dividend by a third to $4 per share after clearing the Fed's latest stress tests a move that could reflect growing confidence in its capital resilience. Still, management isn't taking its foot off the brake. CEO David Solomon told investors the economy is responding to policy changes, but warned outcomes don't always follow a straight line. The firm continues to squeeze its cost base, trimming headcount by 700 and relocating top talent to lower-cost hubs like Dallas and Bengaluru. Meanwhile, shareholders have greenlit $80 million in retention bonuses for Solomon and President John Waldron a clear vote of confidence. Bottom line: Goldman may have just posted a historic quarter, but its focus on risk, cost discipline, and capital return could be what defines its staying power. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
16-07-2025
- Business
- Bloomberg
Bloomberg Intelligence: Goldman Sachs Posts Best Stock-Trading Quarter in History
Watch Paul LIVE every day on YouTube: Bloomberg Intelligence hosted by Paul Sweeney and Lisa Mateo Alison Williams, Bloomberg Intelligence Senior Analyst, Global Banks and Asset Managers, discusses U.S bank earnings. Goldman Sachs Group Inc.'s stock traders posted the largest revenue haul in Wall Street history, with equity-trading revenue of $4.3 billion for the second quarter. Morgan Stanley's stock traders scored their best second quarter on record, earning $3.72 billion in equity-trading revenue, a 23% jump from a year ago. Bank of America Corp.'s traders posted a record second quarter as the company reaped the benefits of volatile markets and net interest income topped analysts' estimates. Woo Jin Ho, Bloomberg Intelligence Senior Technology Analyst, discusses Hewlett Packard Enterprise creating a new strategy committee and agreeing to work with Elliott Investment Management to help boost value. Other members of the committee will include Gary Reiner, Raymond Lane and Charles Noski. Duncan Fox, Bloomberg Intelligence Senior Consumer Staples Analyst, discusses Diageo Chief Executive Officer Debra Crew stepping down after a bruising run in which the company's stock has plummeted. The maker of Guinness and Johnnie Walker whisky said Wednesday Chief Financial Officer Nik Jhangiani had been appointed interim CEO, with a search already under way for Crew's permanent replacement. Herman Chan, Bloomberg Intelligence Senior Analyst for US Regional Banks, discusses regional bank earnings. They include results from First Horizon, PNC Financial, and MT&T Bank.
Bloomberg
16-07-2025
- Business
- Bloomberg
Bloomberg Intelligence: Goldman Sachs Profit Surges (Correct)
Watch Paul LIVE every day on YouTube: Bloomberg Intelligence hosted by Paul Sweeney and Lisa Mateo Alison Williams, Bloomberg Intelligence Senior Analyst, Global Banks and Asset Managers, discusses U.S bank earnings. Goldman Sachs Group Inc.'s stock traders posted the largest revenue haul in Wall Street history, with equity-trading revenue of $4.3 billion for the second quarter. Morgan Stanley's stock traders scored their best second quarter on record, earning $3.72 billion in equity-trading revenue, a 23% jump from a year ago. Bank of America Corp.'s traders posted a record second quarter as the company reaped the benefits of volatile markets and net interest income topped analysts' estimates. Woo Jin Ho, Bloomberg Intelligence Senior Technology Analyst, discusses Hewlett Packard Enterprise creating a new strategy committee and agreeing to work with Elliott Investment Management to help boost value. Other members of the committee will include Gary Reiner, Raymond Lane and Charles Noski. Duncan Fox, Bloomberg Intelligence Senior Consumer Staples Analyst, discusses Diageo Chief Executive Officer Debra Crew stepping down after a bruising run in which the company's stock has plummeted. The maker of Guinness and Johnnie Walker whisky said Wednesday Chief Financial Officer Nik Jhangiani had been appointed interim CEO, with a search already under way for Crew's permanent replacement. Herman Chan, Bloomberg Intelligence Senior Analyst for US Regional Banks, discusses regional bank earnings. They include results from First Horizon, PNC Financial, and MT&T Bank.
Bloomberg
16-07-2025
- Business
- Bloomberg
Goldman's Big Hedge Fund Bet Was Perfectly Timed
Where are all of David Solomon's critics now? Those who haven't left Goldman Sachs Group Inc. for other firms are getting on with their jobs with gusto. The investment bank's chief executive officer had a torrid time cleaning up his strategic misstep into consumer banking, but two years after ending that project, its core businesses are on fire. Goldman reported record equity trading revenue in second-quarter earnings on Wednesday and trounced its peers with a rebound in investment banking revenue that was fueled by a 70% jump in deal-making fees versus the same period last year.
Bloomberg
09-07-2025
- Business
- Bloomberg
Barclays Hires Sales Trader in Hong Kong After Pullback
Barclays Plc hired Joseph Lee from HSBC Holdings Plc as head of high-touch equity sales trading for Asia-Pacific as the UK bank ramps up staffing after exiting the business almost a decade ago. The senior move follows the addition of Paul Johnson from Goldman Sachs Group Inc. in January as head of equities for the region, and Christian Treuer, head of equities distribution. Lee will report to Peter Ramsey, global head of cash equities, and Treuer, according to a statement Thursday.
