Posts Tagged ‘Goldman Sachs’

(Lee Siler) - Positive earnings news out of Wal-Mart is being over shadowed by surprisingly negative news in the over-all retail sector. The world's largest retailer reported flat earnings from the previous year, but beat analysts' expectations. Wal-Mart's quarterly profit came in at 88 cents a share versus the 85 cents Wall Street was expecting. Cost cutting measures helped the retail giant achieve higher profit margins as well. What's more, the company raised the lower end of their profit guidance. On the news, Wal-Mart is trading higher in the pre-market.

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(Lee Siler) - Markets will try to rally this morning on positive earnings and unemployment data. The Labor Department reported that the number of Americans collecting unemployment benefits unexpectedly dropped last week to 6.2 million. Economists had been expecting 6.3 million.

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(Lee Siler) - Stocks had their best week in months, as some of the old school companies blew out earnings estimates. Companies like Goldman Sachs, Intel and IBM all beat a pessimistic outlook, as it seems analysts may have taken their estimates way too low. Even the banks stocks are coming in better than expected. Bank of America and Citigroup beat views despite a credit loss. Thus far, the majority of companies reporting second quarter earnings are beating views. However, it is still very early in the season. This week will be extremely busy on the earnings front, especially in the tech sector.

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(Lee Siler) - So far earnings season has started out with a bang. Alcoa got things started by beating estimates last week. Then this morning all eyes were on Goldman Sachs, which their results knocked the cover off the ball. The company reported a 33% rise in quarterly profits on very strong trading results. Certainly a good second quarter for the stock market helped buoy their report. Remember, last month Goldman paid back the TARP money they borrowed and is now the last investment bank standing. Earnings came in at $4.93 a share versus First Call estimates of $3.54 a share. This earnings report was no surprise to Wall Street, as the stock traded up over $8 a share yesterday in anticipation of a blow out number.

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(Lee Siler) - After six straight weeks of positive gains, the recent rally continues to look a little long in the tooth. However, on Friday it looked like investors were throwing money at some of the worst hit sectors such as retailers, building, leisure and steal. Although I think this is a good sign, I get the feeling that the market is getting a little tired and starting to lose some of its luster.

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(Lee Siler) - J.P. Morgan Chase reported earnings that were down from a year ago, but easily beat analysts' expectations. The company announced earnings for the first quarter of 40 cents a share on record revenues of $26.9 billion. The Street was expecting somewhere around 32 cents. J.P. Morgan Chase, like Goldman Sachs, attributed their performance to increased activity on their fixed income trading desk.

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(Lee Siler) - Despite a good earnings report out of Intel, their lack of guidance is putting pressure on the market this morning. Intel announced after the close that they easily beat analysts' profit expectations. And what's more, said that slumping computers sales are bottoming out.

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