BMO Capital Raises Price Target on Goldman Sachs (GS) Following EPS Beat

Goldman Sachs (GS) PT Trimmed to $180 at UBS

UBS analyst Brennan Hawken reiterated a Buy rating on Goldman Sachs (NYSE: GS) but trimmed its price target to $180.00 (from $185.00). Hawken said expense progress i encouraging but catalysts to drive the top-line are lacking.

Hawken commented, "Expense savings from 1H16 cost initiatives, including a 5%... More

Goldman Sachs (GS) PT Bumped to $197 at Nomura

Nomura Securities analyst Steven Chubak reiterated a Buy rating and raised his price target on Goldman Sachs (NYSE: GS) to $197.00 (from $195.00) following Q2 results.

Chubak commented, "GS reported 2Q16 EPS of $3.72 vs. our $2.80 estimate and cons. of $3.05. Adjusting for the lower tax rate, core EPS was closer to $3.47. Versus our forecast, the... More

Morgan Stanley hits CEO's bond trading target, surprising analysts

By Olivia Oran and Sudarshan Varadhan

(Reuters) - Morgan Stanley, which has struggled for years to improve its bond-trading business, may finally be turning the corner.

The Wall Street bank reported a lower second-quarter profit on Wednesday, but beat expectations by delivering relatively strong bond-trading revenue and cutting expenses.

Chief Executive James Gorman has faced tough questions from analysts about the state of its fixed income, currency and commodities trading unit since taking the helm of the bank in 2010. Morgan Stanley scaled back the business in an effort to make it more profitable, but its... More

Brexit bump instills no confidence on sullen bond trading floors

By Olivia Oran

(Reuters) - Even after a good quarter, optimism is hard to find on Wall Street's bond trading floors.

Revenue from fixed income, currency and commodities trading was up 24 percent at the five biggest U.S. banks in the second quarter from a year ago, to $11.8 billion, according to a Reuters calculation based on the banks' reported results.

Results were helped by Britain's surprise vote to leave the European Union, which rippled across global markets including record currency volumes for some big banks.

But executives say that bump in activity was short-lived.... More

Brexit bump instills no confidence on sullen bond trading floors

By Olivia Oran

(Reuters) - Even after a good quarter, optimism is hard to find on Wall Street's bond trading floors.

Revenue from fixed income, currency and commodities trading was up 24 percent at the five biggest U.S. banks in the second quarter from a year ago, to $11.8 billion, according to a Reuters calculation based on the banks' reported results.

Results were helped by Britain's surprise vote to leave the European Union, which rippled across global markets including record currency volumes for some big banks.

But executives say that bump in activity was short-lived.... More

Brexit bump instills no confidence on sullen bond trading floors

By Olivia Oran

(Reuters) - Even after a good quarter, optimism is hard to find on Wall Street's bond trading floors.

Revenue from fixed income, currency and commodities trading was up 24 percent at the five biggest U.S. banks in the second quarter from a year ago, to $11.8 billion, according to a Reuters calculation based on the banks' reported results.

Results were helped by Britain's surprise vote to leave the European Union, which rippled across global markets including record currency volumes for some big banks.

But executives say that bump in activity was short-lived.... More

Brexit bump instills no confidence on sullen bond trading floors

By Olivia Oran

(Reuters) - Even after a good quarter, optimism is hard to find on Wall Street's bond trading floors.

Revenue from fixed income, currency and commodities trading was up 24 percent at the five biggest U.S. banks in the second quarter from a year ago, to $11.8 billion, according to a Reuters calculation based on the banks' reported results.

Results were helped by Britain's surprise vote to leave the European Union, which rippled across global markets including record currency volumes for some big banks.

But executives say that bump in activity was short-lived.... More

Brexit bump instills no confidence on sullen bond trading floors

By Olivia Oran

(Reuters) - Even after a good quarter, optimism is hard to find on Wall Street's bond trading floors.

Revenue from fixed income, currency and commodities trading was up 24 percent at the five biggest U.S. banks in the second quarter from a year ago, to $11.8 billion, according to a Reuters calculation based on the banks' reported results.

Results were helped by Britain's surprise vote to leave the European Union, which rippled across global markets including record currency volumes for some big banks.

But executives say that bump in activity was short-lived.... More

Brexit bump instills no confidence on sullen bond trading floors

By Olivia Oran

(Reuters) - Even after a good quarter, optimism is hard to find on Wall Street's bond trading floors.

Revenue from fixed income, currency and commodities trading was up 24 percent at the five biggest U.S. banks in the second quarter from a year ago, to $11.8 billion, according to a Reuters calculation based on the banks' reported results.

Results were helped by Britain's surprise vote to leave the European Union, which rippled across global markets including record currency volumes for some big banks.

But executives say that bump in activity was short-lived.... More

Brexit bump instills no confidence among bond traders

By Olivia Oran

(Reuters) - Even after a good quarter, optimism is hard to find on Wall Street's bond trading floors.

Revenue from fixed income, currency and commodities trading at the five biggest U.S. banks rose 21 percent to $13.1 billion in the second quarter from a year earlier, Reuters calculated from their reported results.

The banks benefited from Britain's surprise vote to leave the European Union, which rippled across global markets and led to record currency volumes for some big banks.

But executives say that bump in activity was short-lived. Although markets have... More

CNBC's Best Morning Interviews 7/19 (NFLX) (GS) (IBM) (UTHR)

Remember when MTV played music? So do we and we wish CNBC would spend more time on investing topics and less time on the Republican convention or talking about House of Cards. To help you catch up on your CNBC binge watching, we posted the links to our favorite... More

Streetinsider.com's Hot Lunchtime Reads 7/19: (VMW) (IBM) (MGT) (GS)

The following is a list of notable articles to help get you through the lunch hour:Trump Wants Former Goldman Exec Mnuchin as Treasury Secretary ->... More

Trump Wants Former Goldman Exec Mnuchin as Treasury Secretary

Donald Trump is said to want former Goldman Sachs banker Steve Mnuchin for U.S. Treasury Secretary.

Fortune reported the news mid-morning on Tuesday,... More

Pre-Open Stock Movers 07/19: (HDSN) (CERU) (VMW) Higher; (SMCI) (NFLX) (GES) Lower (more...)

Today's Pre-Open Stock Movers

Hudson Technologies, Inc. (NASDAQ: HDSN) 36.9% HIGHER; announced that it has been awarded, as prime contractor, a five-year contract including a five-year renewal option, by the United States Defense Logistics Agency (DLA) with an estimated maximum value over the term of the agreement of $400 million in sales to the Department of Defense. The fixed price contract is for the management and supply of refrigerants, compressed gases, cylinders and related items to US Military Commands and Installations,... More

Goldman details cost savings plan after 'challenging' quarter

By Olivia Oran and Sweta Singh

(Reuters) - Goldman Sachs Group Inc (NYSE: GS) reported a higher second-quarter profit on Tuesday, as it benefited from a sharp decline in expenses and more activity in some parts of the fixed-income markets, but most of its businesses came under pressure.

In response to a "challenging backdrop" for revenue, the Wall Street bank embarked on a cost-cutting plan in the first half of the year that will save $700 million a year, Chief Financial Officer Harvey Schwartz said on a conference call.

The Wall Street bank's profit... More

S&P pulls back from record; Dow notches eighth day of gains

By Lewis Krauskopf

(Reuters) - The S&P 500 pulled back from record highs on Tuesday, while the Dow industrials edged up for an eighth straight day of gains, as investors digested mixed earnings reports amid lowered expectations for global economic growth.

Netflix's (NASDAQ: NFLX) disappointing quarterly results weighed on the S&P 500 and the Nasdaq, while Johnson & Johnson's (NYSE: JNJ) strong earnings and forecast helped prop up the Dow.

The International Monetary Fund cut its global growth forecasts for the next two years, citing uncertainty over... More

Goldman Sachs (GS) Tops Q2 EPS Views; Trading Revenues Top Expectations

Goldman Sachs (NYSE: GS) reported Q2 EPS of $3.72, $0.72 better than the analyst estimate of $3.00. Revenue for the quarter came in at $7.93 billion versus the consensus estimate of $7.58 billion.

FICC trading revenue was $1.93 billion, versus $1.80 billion expected.

Total trading revenue was $3.68 billion, with expectations at $3.67... More

Equity markets little changed, euro slips after ECB

By Richard Leong

NEW YORK (Reuters) - World equity markets were little changed on Thursday, with the key U.S. Dow and S&P stock indexes hovering below record highs, while the euro fell, erasing earlier gains spurred by the European Central Bank's decision to refrain from more stimuli.

Oil prices declined after a rise in U.S. gasoline inventories pushed oil stocks to a record high, feeding uneasiness about a persisting global supply glut.

U.S. and European equity markets have been on a tear due to upbeat company earnings and encouraging U.S. economic... More

Goldman asset management executive Gottlieb to leave firm

By Olivia Oran

(Reuters) - Goldman Sachs Group Inc's (NYSE: GS) Jason Gottlieb, a partner in the bank's asset management division, is leaving the firm.

Gottlieb, one of four portfolio managers on the Goldman Sachs Multi-Manager Alternatives Fund , will leave the bank in August, according to an internal memo sent last week and seen by Reuters.

A Goldman Sachs spokesman confirmed the contents of the memo but declined to discuss the reasons for Gottlieb's departure.

Goldman's... More

Trading Radar for 7/19: Microsoft (MSFT), Goldman Sachs (GS), J&J (JNJ), UnitedHealth (UNH), United Air (UAL), Intuitive Surgical (ISRG) Report

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
8:30am EDT

Earnings:

Belden (NYSE: BDC) - consensus EPS $1.26
Comerica (NYSE: CMA) - consensus EPS $0.69
Ericsson (Nasdaq: ERIC) - consensus EPS $0.12
Genuine Parts (NYSE: GPC) - consensus EPS... More

Goldman Sachs (GS) volatility flat into Q2 and outlook

Goldman Sachs (NYSE: GS) July weekly call option implied volatility is at 35, August is at 28; compared to its 52-week range of 16 to 46 into the expected release of Q2 on