{"id":73351,"date":"2024-01-16T09:09:52","date_gmt":"2024-01-16T14:09:52","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=73351"},"modified":"2024-01-16T09:09:52","modified_gmt":"2024-01-16T14:09:52","slug":"coffee-with-greta-more-bank-earnings","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/01\/16\/coffee-with-greta-more-bank-earnings\/","title":{"rendered":"Coffee With Greta: More Bank Earnings"},"content":{"rendered":"

DJIA Futures: <\/b>-147 (-0.4%)<\/span><\/p>\n

SPX Futures: <\/b>-21 (-0.4%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-77 (-0.5%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are lower to start the new week of trade.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Goldman Sachs Top Earnings Estimates<\/span><\/h2>\n

Goldman Sachs <\/b>(GS) shares are down 0.5% ahead of the open despite beating Q4 expectations.\u00a0<\/span><\/p>\n

Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

    \n
  • EPS: $5.48 vs $3.51 expected<\/span><\/li>\n
  • Revenue: $11.32 billion vs $10.80 billion expected<\/span><\/li>\n<\/ul>\n

    Earnings jumped 51% year over year while companywide revenue rose 7%.\u00a0<\/span><\/p>\n

    Asset and wealth management revenue jumped 23% from a year earlier to $4.39 billion, topping estimates by nearly $550 million.<\/span><\/p>\n

    Equities trading revenue rose 26% to $2.61 billion vs $2.22 billion expected.\u00a0<\/span><\/p>\n

    Fixed income trading revenue dropped 24% $2.03 billion vs $2.53 billion expected.<\/span><\/p>\n

    Investment banking fees fell 12% to $1.65 billion, matching estimates.<\/span><\/p>\n

    CEO David Solomon said, \u201cWith everything we achieved in 2023 coupled with our clear and simplified strategy, we have a much stronger platform for 2024.\u201d<\/span><\/p>\n

    Morgan Stanley Drops Despite Revenue Beat<\/span><\/h2>\n

    Morgan Stanley <\/b>(MS) shares are dropping 3.2% in premarket trade despite beating Q4 revenue expectations as earnings fell short.\u00a0<\/span><\/p>\n

    Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

      \n
    • EPS: $0.85 vs $1.07 expected<\/span><\/li>\n
    • Revenue: $12.9 billion vs $12.75 billion expected<\/span><\/li>\n<\/ul>\n

      Net income was down more than 30% year over year as the bank got hit with one-time regulatory charges.\u00a0<\/span><\/p>\n

      Wealth management revenue totaled $6.65 billion up slightly from $6.63 billion a year ago.\u00a0<\/span><\/p>\n

      Investment management totaled $1.46 billion, little changed from last year.<\/span><\/p>\n

      Key Manufacturing Gauge Tumbles<\/span><\/h2>\n

      A key manufacturing gauge tumbled further into negative territory to start the new year.\u00a0<\/span><\/p>\n

      The Empire State manufacturing index dropped 29.2 points this month to -43.7.<\/span><\/p>\n

      That\u2019s the lowest reading since May 2020 and lower than economists\u2019 expectations for the index to rise to -4.\u00a0<\/span><\/p>\n

      The new orders index dropped 38.1 points to -49.4 in January and the shipments index fell 24.9 points to -31.3.<\/span><\/p>\n

      But optimism for the future continued to pick up.\u00a0<\/span><\/p>\n

      The future business conditions index rose 7 points to 18.8 while capital spending increased 10 points to 13.7.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: -147 (-0.4%) SPX Futures: -21 (-0.4%) NASDAQ Futures: -77 (-0.5%) Good morning friends! Futures are lower to start the new week of trade. Let\u2019s get right to it! Goldman Sachs Top Earnings Estimates Goldman Sachs (GS) shares are down 0.5% ahead of the open despite beating Q4 expectations.\u00a0 Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $5.48 vs $3.51 expected Revenue: $11.32 billion vs $10.80 billion expected Earnings jumped 51% year over year while companywide revenue rose 7%.\u00a0 Asset and wealth management revenue jumped 23% from a year earlier to $4.39 billion, topping estimates by nearly $550 million. Equities trading revenue rose 26% to $2.61 billion vs $2.22 billion expected.\u00a0 Fixed income trading revenue dropped 24% $2.03 billion vs $2.53 billion expected. Investment banking fees fell 12% to $1.65 billion, matching estimates. CEO David Solomon said, \u201cWith everything we achieved in 2023 coupled with our clear and simplified strategy, we have a much stronger platform for 2024.\u201d Morgan Stanley Drops Despite Revenue Beat Morgan Stanley (MS) shares are dropping 3.2% in premarket trade despite beating Q4 revenue expectations as earnings fell short.\u00a0 Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $0.85 vs $1.07 expected Revenue: $12.9 billion vs $12.75 billion expected Net income was down more than 30% year over year as the bank got hit with one-time regulatory charges.\u00a0 Wealth management revenue totaled $6.65 billion up slightly from $6.63 billion a year ago.\u00a0 Investment management totaled $1.46 billion, little changed from last year. Key Manufacturing Gauge Tumbles A key manufacturing gauge tumbled further into negative territory to start the new year.\u00a0 The Empire State manufacturing index dropped 29.2 points this month to -43.7. That\u2019s the lowest reading since May 2020 and lower than economists\u2019 expectations for the index to rise to -4.\u00a0 The new orders index dropped 38.1 points to -49.4 in January and the shipments index fell 24.9 points to -31.3. But optimism for the future continued to pick up.\u00a0 The future business conditions index rose 7 points to 18.8 while capital spending increased 10 points to 13.7.<\/p>\n","protected":false},"author":41,"featured_media":73353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-73351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=73351"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73351\/revisions"}],"predecessor-version":[{"id":73354,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73351\/revisions\/73354"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/73353"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=73351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=73351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=73351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}