The world’s most influential and successful bank did it again, thanks to fixed income and trading. They beat on both the top and bottom lines — crushing estimates and making the analysts who cover the stock look like complete jerkoffs.
The Wall Street giant said it earned $5.08 a share on revenue of $8.17 billion, with $2.15 billion in net income representing a near-quadrupling in profit. Goldman was expected to post earnings of $4.82 a share on revenue of $7.742 billion, according to analysts surveyed by Reuters. Return on equity was 11.4 percent compared to a 10 percent benchmark for cost of capital.
A jump in trading revenue helped spur the growth, with revenue from bond-related trading soaring 78.3 percent from a year ago to $2 billion. The bank attributed the gain to a fourth-quarter environment “generally characterized by improved market conditions, including rising interest rates and tighter credit spreads.” The news came a day after Morgan Stanley said its trading revenue spiked 173 percent.
Shares are slightly higher early going.
It’s worth noting, however, Goldman had a shitty year, in spite of the shares being up 30% since election night. Aside from debt trading, Goldman bled out in nearly every aspect of their bank.
That’s actual proof that the people who’ve been buying the stocks are essentially clueless. The fundamentals only got better because of the massive Trump induced short squeeze. Other than that, Goldman had nothing going on, at all.
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It’ll be interesting to see if $UEC can weather the shitty news out of $CCJ this morning.
How about that DRYS??
I agree:
” The world’s most influential and successful bank did it again,..”
The squid [GS] is the best at front-running and muppeting its clients.
On CNBC Thursday Jan 12 3:30 PM, two shameless lying shills
were touting big bank stocks whose earnings were going to
be “sensational” and the would SOAR on the news Friday.
Well the big bank earnings were fair, but the stocks TANKED
by 4% to 7% in the two trading days following.
The shills did their thing, by inducing suckers to buy the shit
or its options near the Thursday close – and get the big dick
shoved into them. I didn’t bite, having heard this shit before.
Well, ya know, as an OF I tend to take the long view on a lot of shit. Talking of Shit, let’s talk Matt of Squiddly fame, as compared to Lewis of Greeks Bearing Bonds. The Golden Slack’s parnsipship, now some sort of Mad Money Limited Truth Conglomeration (or shall we say, Lynchian Diworsification) of the former agreement – has come a long way baby from its previous incarnation (applying Hindu ethics to God’s Work is a tricky bizness), sine dubio.
One harkens back to the 2008 debacle, wherein the organ was in terminal collapse, infected by virii of its own ilk, and threatening a forty fiat floor flourishing fountains of phalliaure. No swinging here. But by manic manipulations of minions, the counterparties were covered with SamBucks, and a 4X recovery of the corpse was financially engineered. This coincided with the triumphant return seafood Corsican, which has been rather lodged somewhere in the gastrointestinal tract since.
One must ask, as the world asymtotically approaches the ECRImonious growth rate projected by Apocolyptic (“The Horror”) productivenotness of the World – whether all forms of seafood farmed from Sicily will survive and prosper. Let us see how the Final Battle of the Taibbi and Lewis heavyweight championship – the Fiat Fumble in the Bubble, as it were, tallys out in Parliament. This could get hot.
Hard to tell what you are talking about here, although I get some of it. I never knew before googling John Lewis, that Britain has a department store that sells corporate bonds. I don’t know if that is what your were referring to there. Not sure what Corsican seafood has to do with anything, although a search turns up seafood restaurants there.
But I read Taibbi, and I notice he has a new book out called Insane Clown President. Doesn’t sound like anything that most of the readers of this site, who are apparently mostly Right Winged, would be interested in.
http://www.rollingstone.com/politics/features/matt-taibbis-new-book-insane-clown-president-w461390
Or maybe you meant the John Lewis who said Trump is an illegitimate president. But he has nothing to do with Parliament. But then Taibbi doesn’t either. You write like a puzzle.
Think Bye Bye American Pie.
Actors:
Mad Money
Liars playing Poker – It is Michael not John
Napoleon
Apocalypse Now
Cassius Clay (aka “Ali”) vs Foreman
and yup Taibbi
And as for OF – well no hints here. Well OK. Hint: I was an asshat, but I got better.
Oh yes – and ECRI, playing themselves in this opera.