iShares U.S. Broker-Dealers & Securities Exchanges ETF (ARCA: IAI)

Últimas noticias sobre iShares U.S. Broker-Dealers & Securities Exchanges ETF (ARCA:IAI)

iShares U.S. Broker-Dealers & Securities Exchanges ETF

iShares U.S. Broker-Dealers ETF

Financial Services

Other

Technology

The Fund seeks to track the investment results of the Dow Jones U.S. Select Investment Services Index; the Underlying Index, which measures the performance of the investment services sector of the U.S. equity market, as defined by S&P Dow Jones Indices LLC; the Index Provider or SPDJI. The Underlying Index includes companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and securities or commodities exchanges. The Underlying Index includes large, mid or small capitalization companies and may change over time.

Goldman Sachs Group Inc/The

S&P Global Inc

Morgan Stanley

International Exchange, Inc.

Msci Inc Com Usd.01

Moody'S Corp.

Charles Schwab Corp.

Cme Group, Cl A

Nasdaq Inc.

Coinbase Global Inc -Class A

iShares US Broker-Dealers & Securities Exchanges ETF

Equities

Large Cap

News

Guidance

Movers

Media

iShares Dow Jones US Broker Dealers Index Fund

KBWB

Goldman Sachs anticipa una caída del 10% en ganancias de trading, según el CEO David Solomon. Acciones de GS cotizan a la baja.

¿Qué está pasando con las acciones de Goldman Sachs (GS) en el premercado del martes?

The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) shares are trading higher after the company<a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b43093928/schwab-reports-fourth-quarter-and-full-year-results" rel="noreferrer noopener"> reported&nbsp;fourth-quarter&nbsp;results</a>.
Revenue rose&nbsp;20% year over year to&nbsp;$5.33 billion, beating the consensus of&nbsp;$5.19 billion.
Net interest revenue rose 19% Y/Y to&nbsp;$2.531 billion in the&nbsp;fourth quarter. Clients&#8217; daily average trades totaled 6.312 million, up 22%&nbsp;Y/Y.
Asset management and administration fees rose&nbsp;22% Y/Y to $1.51 billion, and trading revenue surged 14%, led by higher volumes and changes in the trading mix.
Adjusted net income rose 44% Y/Y to $1.97 billion. Adjusted EPS increased 49% to $1.01,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$0.91</a>.
The bank had&nbsp;$259.1 billion in deposits at the end of the&nbsp;fourth quarter of 2024, down&nbsp;11% Y/Y.
In the&nbsp;fourth quarter of FY24, core net new assets stood at&nbsp;$114.8&nbsp;billion, pushing total client assets to&nbsp;$366.9&nbsp;billion in 2024 (up 20% Y/Y), reflecting ongoing progress following the Ameritrade integration.
Total client assets rose&nbsp;19%&nbsp;Y/Y to&nbsp;$10.10 trillion. The company&#8217;s active brokerage accounts reached 36.5 million in the quarter.
Mike Verdeschi, CFO, said, &#8220;Client transactional sweep cash grew by $35 billion versus 3Q24, including a $25 billion increase in December due to typical year-end seasonality. This build helped us further reduce Bank Supplemental Funding by $14.9 billion to $49.9 billion – down ~50% from peak levels.&#8221;
Goldman Sachs analyst Alexander Blostein writes that the company delivered strong fourth-quarter results, with improved deposits, reduced supplemental borrowings, solid NNA growth, controlled expenses, and capital rebuilding.
While year-end seasonality boosted cash and client activity, the analyst says that the company&#8217;s EPS growth trajectory remains intact for 2025, and the increased interest rate backdrop should support an upward bias to EPS estimates.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Tidal ETF Trust God Bless America ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YALL#NYSE">YALL</a>).
Price Action: SCHW shares are up 7.41% at $82.02 at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/43089570/charles-schwab-gears-up-for-q4-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-analysts" target="_blank" rel="noreferrer noopener">Charles Schwab Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>
Image via Shutterstock.

Earnings

SCHW

YALL

Charles Schwab Delivers Strong Q4: Higher Trading Volumes And New Assets Drive Growth

JP Morgan analyst Kian Abouhossein shared views on Morgan Stanley&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) fourth-quarter <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/01/43029150/morgan-stanley-q4-earnings-profit-doubles-ceo-calls-it-one-of-strongest-years-aims-for-prudent-dividend-growth" rel="noreferrer noopener">results reported today.</a>
The bank reported an adjusted EPS of $2.22, up from $0.85 a year ago and beating the consensus of $1.70. Revenue of $16.22 billion, up 26% year over year, beat the&nbsp;consensus of $15.03 billion.
The analyst writes that Morgan Stanley&#8217;s Investment Banking performance is strong, with Equity S&amp;T rising 51% year-over-year (JPM estimate +18%) to $3.3 billion, outperforming the U.S. peers.
The analyst also adds that FICC performed well, growing 35% year over year (JPM estimates +19%) versus an average of 25% among its U.S. peers.
With a <a target="_blank" href="https://www.benzinga.com/quote/MS/analyst-ratings" rel="noreferrer noopener">Neutral rating </a>on the stock, the analyst expects Morgan Stanley&#8217;s shares to outperform peers today.
Abouhossein expects mid-to-high single-digit % EPS upgrades to 2025 consensus but this would be partly dependent on earnings conference call.
During the conference call, the analyst anticipates questions regarding Wealth Management NII, the outlook for IB fee growth following optimistic comments from peers.
Also, the analyst expects the bank to provide outlook for share buybacks, which were in line with JP Morgan estimates expectations at $0.75 billion for the fourth quarter.
Investors can gain exposure to the stock via iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: MS shares are up 2.57% at $133.90 at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43031980/big-banks-continue-to-beat-q4-earnings-financial-etf-takes-breather" target="_blank" rel="noreferrer noopener">Big Banks Continue To Beat Q4 Earnings As Financial ETF Takes A Breather</a></li>
</ul>
Image via Shutterstock.

Analyst Color

Analyst Ratings

JP Morgan Analyst Sees Earnings Upside For Morgan Stanley Post-Q4 Beat: Details

On Wednesday, Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)&nbsp;shares traded higher after the <a target="_blank" href="https://www.goldmansachs.com/pressroom/press-releases/2025/2025-01-15-q4-results" rel="noreferrer noopener">company reported its fourth-quarter</a> and full-year 2024 financial results.
Goldman Sachs reported fourth-quarter revenue of $13.87 billion, beating the consensus of $12.39 billion. Revenue increased by 23% year-over-year, reflecting growth across all segments, with significant growth in Global Banking &amp; Markets.
Full-year revenue was $53.51 billion, up 16% YoY, beating the consensus of $51.98 billion.
Net interest income for 4Q24 was $2.35 billion, 75% higher YoY, reflecting a shift towards higher-yielding assets, and was essentially unchanged QoQ. Average interest-earning assets were $1.59 trillion.
Also read: <a target="_blank" href="https://www.benzinga.com//node/42960000" rel="noreferrer noopener">Goldman Sachs Restructures Business for Financing Growth</a>
Segment Revenues: Global Banking &amp; Markets revenues were&nbsp;$8.48 billion, up&nbsp;33% Y/Y. This was boosted by a&nbsp;24% Y/Y increase in investment banking fees to&nbsp;$2.05 billion, led by higher revenues in Debt and Equity underwriting. Investment banking fees backlog increased QoQ, primarily driven by Equity underwriting.
Net revenues in Fixed Income, Currency, and Commodities (FICC) were&nbsp;$2.74 billion,&nbsp;up 35% year over year, primarily reflecting higher net revenues in FICC intermediation and financing.
Net revenues from Equity grew 32% YoY to $3.45 billion, reflecting significantly higher net revenues in intermediation and financing.
Asset &amp; Wealth Management revenue was&nbsp;$4.72 billion,&nbsp;8% higher than last year. Total Wealth management client assets soared to ~$1.6 trillion.
Goldman Sachs clocked fourth-quarter GAAP EPS of&nbsp;$11.95,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$8.30</a>. Full-year GAAP EPS was $40.54, beating the consensus of $36.55.
Provision for credit losses was&nbsp;$351 million for the&nbsp;fourth quarter, down 39% year over year, reflecting net provisions related to the credit card portfolio (primarily driven by net charge-offs).
In the fourth quarter, total Assets Under Supervision (AUS) saw a net inflow of $92 billion. Total AUS for 2024 increased by $325 billion to a record $3.14 trillion.
Stock Buyback: In the fourth quarter, Goldman Sachs repurchased stock worth $2 billion, bringing the yearly stock buyback to $8 billion.
The Standardized CET capital ratio increased to 15%, and the Advanced CET capital ratio increased to 15.4%. The book value per common share increased to $336.77 YoY, compared to $313.56.
In the last 12 months, Goldman Sachs stock has gained 50%, outperforming the S&amp;P500 and the Dow by a huge margin.
Analyst Ratings: In the last 15 days, Oppenheimer lowered Goldman Sachs stock <a href="https://www.benzinga.com/quote/GS/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast</a> from $677 to $639, UBS downgraded the stock to a Neutral rating with a price forecast of $610, and Barclays raised the price forecast from $588 to $713.
Investors can gain exposure to the Goldman Sachs stock via Shares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>), SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a href="https://www.benzinga.com/stock/DJIA#NYSE" target="_blank" rel="noreferrer noopener"> </a>DIA), and Invesco KBW Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NYSE">KBWB</a>).
Price Action:&nbsp;GS shares are up 2.54% at $586.05 premarket at the last check on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/42429413" target="_blank" rel="noreferrer noopener">Goldman Sachs CEO Says Bank Can Consider Bitcoin, Ethereum Spot Trading If Regulations Allow</a></li>
</ul>
Photo via Shutterstock

Trading Ideas

Goldman Sachs Q4 Earnings: Underwriting Boosts Revenue, Assets Reach Record $3.14 Trillion

Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) shares are trading slightly lower in the morning session on Tuesday after gaining over 3% yesterday. In fact, shares of banks and financial services stocks are trading higher amid the 2024 U.S. presidential election results.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, MS stock has gained over 76% in in the past year. Investors can gain exposure to the stock via&nbsp;iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Today, Morgan Stanley Expansion Capital disclosed an investment of $20 million in NovoPayment. The funding will help NovoPayment accelerate product and commercial growth. It will also strengthen NovoPayment&#8217;s <a target="_blank" href="https://www.benzinga.com//node/41901267" rel="noreferrer noopener">position in the banking and payment vertical SaaS market.</a>
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/11/41784504/trumps-win-sends-indices-to-record-highs-financials-small-caps-surge-bitcoin-tops-75-000-w" rel="noreferrer noopener">Trump&#8217;s Win Sends Indices To Record Highs; Financials, Small Caps Surge, Bitcoin Tops $75,000: What&#8217;s Driving Markets Wednesday?</a>
Yesterday, investment funds managed by Morgan Stanley Capital Partners (MSCP) entered into an agreement to sell Sila Services to Goldman Sachs Alternatives. Financial details of the <a href="https://www.benzinga.com//node/41878999">deal were not disclosed.</a>
The transaction will see Sila&#8217;s management continue to lead the company, retaining a significant minority stake. Sila, headquartered in King of Prussia, Pennsylvania, provides residential HVAC, plumbing, and electrical services across the U.S. Northeast, Midwest, and Mid-Atlantic regions.
Sila Services was MSCP&#8217;s first investment and now its first exit in the growing distributed field services sector, a key part of its Business Services vertical.
Since investing in Sila, MSCP has expanded its portfolio with other distributed field services companies, including Fairway Services, Allstar Services, RowCal, and American Restoration.
Price Action: MS shares are trading lower by 0.99% to $132.20 at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/11/41895937/wall-street-futures-show-weakness-as-investors-look-to-lock-in-gains-after-strong-post-election-rally-bull-market-sentiment-remains-intact-says-wharton-economist" target="_blank" rel="noreferrer noopener">Wall Street Futures Show Weakness As Investors Look To Lock In Gains After Strong Post-Election Rally: &#8216;Bull Market Sentiment Remains Intact,&#8217; Says Wharton Economist</a></li>
</ul>

Markets

General

What's Going On With Morgan Stanley Stock Today?

Deutsche Bank analyst Brian Bedell upgraded Cboe Global Markets, Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) to Buy from Hold and raised the <a href="https://www.benzinga.com/quote/cboe/analyst-ratings" target="_blank" rel="noreferrer noopener">price target to $222</a>.
The analyst&#8217;s bullish stance reflects their updated outlook that CBOE will sustain strong revenue growth through at least 2025.
Bedell expects continued volatility in equity markets, especially following the U.S. elections, which will likely increase demand for index <a target="_blank" href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future" rel="noreferrer noopener">and volatility options and futures</a>.
Additionally, the analyst anticipates organic growth driven by ongoing product innovation and rising adoption of options, particularly with the upcoming launch of index options on Robinhood.
Also, the analyst projects stronger revenue growth to lead to positive operating leverage next year, allowing management to exceed its expectations for operating margin stability, as discussed on the recent third-quarter earnings call.
Notably, this month, the company reported third-quarter adjusted EPS of $2.22, which surpassed the $2.19 estimate, and sales of $532.0 million, beating <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41680696/cboe-global-markets-reports-results-for-third-quarter-2024" rel="noreferrer noopener">the expected $530.8 million</a>.
The analyst adds that along with a modest level of share repurchases, this should support high single-digit EPS growth in 2025 and 2026, surpassing their previous forecast of low-to-mid single-digit growth.
Overall, the analyst revised the forecasts for the company, now projecting 8% revenue growth in 2025 and 6% growth in 2026, up from the previous estimates of 6% and 3%, respectively.
Despite robust growth in index product revenue of 55% and 35% in 2022 and 2023, the analyst anticipates index revenue will still grow by at least 10% in 2025, even with challenging comparisons and high volume levels.
Investors can gain exposure to the stock via&nbsp;Listed Funds Trust Horizon Kinetics Blockchain Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCDF#NYSE">BCDF</a>) and iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>).
Price Action: CBOE shares are up 1.88% at $200.56 at the last check Monday.
Photo by Ground Picture on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41783469/cboe-faces-downgrade-analyst-warns-of-earnings-risks-amid-valuation-concerns-and-sl" target="_blank" rel="noreferrer noopener">Cboe Faces Downgrade: Analyst Warns Of Earnings Risks Amid Valuation Concerns And Sluggish Volume</a></li>
</ul>

Upgrades

Price Target

Listed Funds Trust Horizon Kinetics Blockchain Development ETF

BCDF

CBOE

Cboe Upgraded To Buy: Deutsche Bank Sees Strong Revenue Growth And Margin Gains Through 2025

J.P. Morgan analyst Kian Abouhossein expressed the view on Goldman Sachs Group Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) third quarter financial results.
Today, the company reported revenue of&nbsp;$12.70 billion, beating the consensus of&nbsp;$11.87 billion, and EPS of&nbsp;$8.40,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41329766/goldman-sachs-q3-earnings-investment-banking-fees-surges-20-asset-wealth-management-up-16-but-fixed" rel="noreferrer noopener">beating the consensus of&nbsp;$7.03</a>.
In the conference call, CEO David Solomon highlighted strong client demand and a rising deal backlog and expects alternative fundraising to exceed $60 billion in 2024.
He noted the firm remained below 10-year averages for equity and M&amp;A volumes and stressed the need to enhance margins in asset and wealth management.
Solomon also mentioned that the direction of travel at this point is &#8220;back to the core business.&#8221;
On the other hand, Goldman&#8217;s CFO stated that the General Motors credit card partnership transfer is expected to close in the third quarter of 2025.
J.P. Morgan analyst, with an <a href="https://www.benzinga.com/quote/GS/analyst-ratings">Overweight rating</a>, writes that GS&#8217;s results are strong relative to the cautious guidance provided at the recent September Financials conference. Notably, Equity S&amp;T revenues reached $3.5 billion, significantly outperforming peers reported so far, with a substantial ongoing margin, adds the analyst.
Goldman Sachs has shown strength in its core franchises, and Abouhossein anticipates its shares will outperform peers.
The analyst anticipates low single-digit percentage upgrades to the consensus EPS for 2024.
Investors can gain exposure to the stock via&nbsp;Shares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Global X Funds Global X Dow 30 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>).
Price Action: GS shares are down 0.55% at $519.90 at the last check Tuesday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41331839/financial-sector-hits-record-highs-as-goldman-sachs-bank-of-america-citi-beat-q3-ea" target="_blank" rel="noreferrer noopener">Financial Sector Hits Record Highs As Goldman Sachs, Bank of America, Citi Beat Q3 Earnings Expectations</a></li>
</ul>

DJIA

Goldman Sachs' Core Business Strength And Future EPS Growth Has Upside, Analyst Says After Q3 Performance

The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) shares are trading higher after the company <a target="_blank" href="https://benzinga.com/pressreleases/24/10/b41328173/schwab-reports-third-quarter-results" rel="noreferrer noopener">reported&nbsp;third-quarter results</a>.
Revenue rose 5% to $4.85 billion, beating the consensus of $4.78 billion. Net interest revenue declined 1% Y/Y to $2.222 billion in the third quarter. Clients&#8217; daily average trades totaled 5.697 million, up 9% Y/Y.
Asset management and administration fees rose 21% Y/Y to $1.48 billion. Adjusted net income remained flat Y/Y at $1.52 billion. Adjusted EPS was stable Y/Y at $0.77, <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">beating the consensus of $0.75</a>.
The bank had $246.5 billion in deposits at the end of the third quarter of 2024, down 13% Y/Y. In the third quarter of FY24, core net new assets stood at $95.3 billion, pushing the total client assets to $252 billion year-to-date. 
Total client assets rose 27% Y/Y to a record high level of $9.92 trillion. The company&#8217;s active brokerage accounts reached 36.0 million in the quarter.
Walt Bettinger, Co-Chairman and CEO, said, &#8220;Record YTD flows into Schwab Wealth Advisory&nbsp;helped Managed Investing net flows reach $40 billion – an increase of 65% versus 2023 year-to-date. Converted Retail Ameritrade client interest in wealth solutions remains robust, accounting for approximately 35% of these flows.&#8221;
This month, Walt Bettinger&nbsp;announced that he will retire at the end of 2024.&nbsp;Rick Wurster, the current president, will <a target="_blank" href="https://www.benzinga.com/news/24/10/41118258/charles-schwabs-ceo-bettinger-announces-retirement-names-president-rick-wurster-as-successor" rel="noreferrer noopener">succeed him starting Jan. 1, 2025</a>.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Tidal ETF Trust God Bless America ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YALL#NYSE">YALL</a>).
Price Action: SCHW shares are up 8.76% at $73.75 premarket at the last check Tuesday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41200138/schwab-trading-activity-falls-in-september-despite-market-strength-nvidia-palantir-among-most-so" target="_blank" rel="noreferrer noopener">Schwab Trading Activity Falls In September Despite Market Strength: Nvidia, Palantir Among Most Sought-After Stocks But These 5 Fell Out Of Favor</a></li>
</ul>

Management

Charles Schwab Q3 Shines: Client Assets Reach $9.92T, Revenue Hits $4.85B, Debt Reduction & More

On Tuesday,&nbsp;Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)&nbsp;shares are trading higher after the company reported revenue of&nbsp;$12.70 billion for the&nbsp;<a target="_blank" href="https://www.goldmansachs.com/pressroom/press-releases/current/pdfs/2024-q3-results.pdf" rel="noreferrer noopener">third </a>quarter, beating the consensus of&nbsp;$11.87 billion.
Sales increased&nbsp;7% Y/Y, reflecting higher net revenues in Global Banking &amp; Markets and Asset &amp; Wealth Management, partially offset by lower net revenues in Platform Solutions.
Global Banking &amp; Markets revenues were&nbsp;$8.55 billion, up&nbsp;7% Y/Y. This was boosted by a&nbsp;20% Y/Y increase in investment banking fees to&nbsp;$1.87 billion, led by higher revenues in Debt and Equity underwriting. Slight gains in advisory revenues contributed significantly to this growth.
Net revenues in Fixed Income, Currency, and Commodities (FICC) were&nbsp;$2.96 billion,&nbsp;down 12% Y/Y, primarily reflecting lower net revenues in FICC intermediation on weak net revenues in interest rate products and commodities.
Asset &amp; Wealth Management revenue was&nbsp;$3.75 billion for the&nbsp;third quarter of 2024,&nbsp;16% higher than last year.
The U.S. financial services giant reported EPS of&nbsp;$8.40,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$7.03</a>.
Provision for credit losses was&nbsp;$397 million for the&nbsp;third quarter, compared with $7 million a year ago, reflecting net provisions related to the credit card portfolio (driven by net charge-offs).
Dividend: On October 11, 2024, the Board of Directors disclosed the quarterly dividend of $3.00&nbsp;per common share, payable on December 30, 2024, to shareholders of record on December 2, 2024.
The company returned common share repurchases worth&nbsp;$1.00 billion&nbsp;in the quarter.
Global core liquid assets averaged $447 billion in the third quarter of 2024, up from $424 billion in the second quarter of 2024, reflecting a positive trend in liquidity.
David Solomon, Chairman and CEO, said, &#8220;&#8221;We continue to lean into our strengths – exceptional talent, execution capabilities and risk management expertise – allowing us to effectively serve our clients against a complex backdrop and deliver for shareholders.&#8221;
Investors can gain exposure to the stock via Shares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Global X Funds Global X Dow 30 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>).
Price Action: GS shares are up 2.92% at $538.00 premarket at the last check Tuesday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41326823/wall-street-on-edge-as-nasdaq-nears-record-high-oil-prices-plummet-strategist-says-theres-opportuni" target="_blank" rel="noreferrer noopener">Wall Street On Edge As Nasdaq Nears Record High, Oil Prices Plummet: Strategist Says There&#8217;s Opportunity If Resilience Continues</a></li>
</ul>

Dividends

Buybacks

Goldman Sachs Q3 Earnings: Investment Banking Fees Surges 20%, Asset & Wealth Management Up 16%, But Fixed Income Falters

Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) disclosed the upcoming launch of PureStream, a volume-based trajectory trading solution that will provide clients access to <a href="https://www.benzinga.com/pressreleases/24/10/g41221318/nasdaq-launches-purestream-in-europe-a-new-tool-for-trajectory-trading" target="_blank" rel="noreferrer noopener">EU shares on Nasdaq Europe</a>.
PureStream, which is currently available in the U.S. and Canada, is expected to debut on Nasdaq Europe in the first quarter of 2025, pending regulatory approval.
PureStream on Nasdaq Europe offers a venue-operated trajectory trading service with conditional indications of interest.
It is expected to enhance collaboration among institutional investors with shared execution goals and provide access to algorithmic liquidity tailored to their volume targets.
The solution enhances price and liquidity discovery through open-ended liquidity transfer rates, enabling institutional investors to reduce market impact.
It automates parent order execution by allowing trades at a percentage of the market&#8217;s future volume based on the volume-weighted average price (VWAP).
Nikolaj Kosakewitsch, Senior Vice President and Head of European Equities &amp; Derivatives at Nasdaq, said, &#8220;This launch underscores our commitment to offering world-class platforms that support the evolving needs of the global capital markets.&#8221;
&#8221;PureStream on Nasdaq Europe will provide greater choice of trade execution mechanisms to our clients and help institutional investors navigate the European trading landscape.&#8221;
Investors can gain exposure to the stock via Listed Funds Trust Horizon Kinetics Blockchain Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCDF#NYSE">BCDF</a>) and iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>).
Price Action: NDAQ shares are up 0.17% at $70.99 premarket at the last check Tuesday.
Photo via Shutterstock
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NDAQ

PureStream Powers Up: Nasdaq's Cutting-Edge Trading Tech Eyes European Expansion

CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) planned the expansion of its Nikkei 225 futures offerings by introducing yen- and U.S. dollar-denominated Micro Nikkei futures on <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41109808/cme-group-to-launch-yen-and-u-s-dollar-denominated-micro-nikkei-futures-on-october-28" rel="noreferrer noopener">October 28, pending regulatory approval</a>.
These new micro contracts, with contract sizes of 50 yen and $0.50, will allow traders to capture Japanese benchmark trading opportunities more precisely, enhancing CME Group&#8217;s current offerings of standard and E-mini Nikkei contracts.
Micro Nikkei futures will expand CME Group&#8217;s suite of micro equity futures contracts, which have traded over 2.9 billion contracts to date.
The recent trading highlights include 220 million cumulative Nikkei futures contracts traded since 2004, an average daily volume of 41,000 contracts year-to-date—up 9% year-over-year—and a year-to-date open interest of 67,000 contracts, reflecting a 2% increase year-over-year.
Paul Woolman, Global Head of Equity Index Products at CME Group, said, &#8220;The addition of micro-sized yen- and U.S. dollar-denominated Nikkei futures contracts will allow global market participants to gain efficient access to the broader Japanese stock market, while also mitigating FX exposure and allowing more granular trading capabilities.&#8221;
&#8220;Year-to-date, nearly 75% of trades in our Nikkei futures occurred outside of&nbsp;Tokyo&nbsp;cash hours, underscoring the need for around-the-clock liquidity for global market participants to manage their equity risk. Similar to their larger parent contacts, the smaller size futures contracts will also offer greater potential capital and margin efficiency.&#8221;
Last week, CME disclosed the expansion of its battery metals suite with the launch of a Spodumene CIF China (Fastmarkets) Futures contract set for <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41084773/cme-group-to-expand-battery-metals-suite-with-launch-of-spodumene-futures-on-october-28" rel="noreferrer noopener">October 28, 2024, pending regulatory approval</a>.
Investors can gain exposure to the stock via&nbsp;The Advisors? Inner Circle Fund Cambiar Aggressive Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAMX#NYSE">CAMX</a>) and iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40693687/cme-group-downgraded-analyst-sees-cutthroat-competition-from-bgc-group-cboe-global-" rel="noreferrer noopener">CME Group Downgraded: Analyst Sees Cutthroat Competition From BGC Group, Cboe Global &amp; Intercontinental Exchange</a>
Price Action: CME shares are up 0.03% at $220.71 premarket at the last check Tuesday.
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CAMX

CME Group Expands Nikkei Futures Offerings, Boosts Japanese Equity Derivatives

Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) expanded its digital bank <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40974376/nasdaq-expands-digital-bank-fintech-presence-in-latin-america" rel="noreferrer noopener">financial technology operations in Latin America</a>.
Notably, the company agreed to supply Nubank with its AxiomSL regulatory reporting solution. Nubank is a digital bank that serves over 100 million customers across Brazil, Mexico, and Colombia.
The agreement strengthens Nasdaq&#8217;s partnership with Nubank, extending support from treasury operations to regulatory reporting in Colombia.
The company underscores the growing demand for third-party financial technology solutions in Latin America, driven by the rapid expansion of digital banking and the need for quick market entry for new products and services.
Nasdaq serves over 50 banking and payment services clients in Latin America, including a mix of digital and traditional banks, local and regional players, and tier-one global banks.
Ed Probst, Senior Vice President, Regulatory Technology at Nasdaq said, &#8220;Digital banking services in Latin America are experiencing a period of extraordinary development, with online marketplaces, open banking and innovative technology combining to empower a new generation of consumers.&#8221;
&#8220;Nasdaq&#8217;s technology is helping to underpin the maturation of the industry, with proven regulatory solutions substantially reducing time to market and providing a competitive advantage in such a fast-paced industry.&#8221;
This month, Nasdaq unveiled a new leadership structure, including an appointment for its Financial Crime Management Technology business, to strengthen its <a target="_blank" href="https://www.benzinga.com//node/40746798" rel="noreferrer noopener">momentum and support continued growth.</a>
Investors can gain exposure to the stock via&nbsp;Listed Funds Trust Horizon Kinetics Blockchain Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCDF#NYSE">BCDF</a>) and iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)
Price Action: NDAQ shares are down 0.08% at $74.23 premarket at the last check Monday.
Photo via Shutterstock
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Contracts

Nasdaq's AxiomSL Solution Powers Digital Banking, Boosts Presence In Latin America

The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares are trading lower premarket Tuesday. On Monday, the company&#8217;s CEO, David Solomon, reportedly stated that trading revenue will likely fall by 10% in the third quarter due to sluggish conditions last month.
However, Solomon noted that investment banking is improving, although activity from financial sponsors hasn&#8217;t rebounded as expected. He remains optimistic that private equity-led deals will recover by the end of this year and into 2025, reported Reuters.
According to Solomon, Goldman Sachs is narrowing its focus on the consumer business. The CEO highlighted the bank&#8217;s sale of loans to small and medium-sized businesses and its plan to exit a credit card partnership with General Motors as examples of its retreat from retail sectors, a strategy that started in late 2022.
Solomon said, &#8220;The combination of those things this quarter will likely have an approximately $400 million pre-tax impact, largely showing up in revenues.&#8221;
In July, the bank reported sales increased&nbsp;17%&nbsp;Y/Y, reflecting higher net revenues in Global Banking and markets and Asset and wealth Management. Also, the U.S. financial services giant reported GAAP EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
Goldman Sachs plans to cut over 1,300 employees from its global workforce in an annual review to eliminate low performers, <a target="_blank" href="https://www.wsj.com/finance/banking/goldman-sachs-to-lay-off-over-1-300-workers-f1d92b88?mod=latest_headlines" rel="noreferrer noopener">WSJ</a> reported in August.
Investors can gain exposure to the stock via&nbsp;iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Invesco KBW Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/08/40484078/goldman-sachs-warns-against-misinterpreting-wednesdays-us-jobs-data-as-crypto-markets-hold" rel="noreferrer noopener">Goldman Sachs Warns Against Misinterpreting Wednesday&#8217;s US Jobs Data As Crypto Markets Hold Their Breath</a>
Price Action: GS shares are down 0.57% at $485.80 premarket at the last check Tuesday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

What's Going On Goldman Sachs Stock Premarket Tuesday?

Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares are trading lower on Tuesday. The bank has reportedly hired veteran investment banker Matt Beitzel, who previously led Citigroup&#8217;s North American banks coverage, as a partner in its financial institutions group.
Beitzel will join Goldman Sachs in November after a period of gardening leave, as per Reuters.
In his new role, he will lead Goldman&#8217;s dealmaking efforts with banks and financial services firms across the Americas.
In July, Goldman Sachs made several senior leadership appointments within its investment banking team, including the appointment of former JPMorgan banker Carsten Woehrn as<a href="https://www.benzinga.com/markets/equities/24/07/39855547/goldman-sachs-bolsters-m-a-team-with-key-hires-report" target="_blank" rel="noreferrer noopener"> joint co-head of M&amp;A in EMEA</a>.
The bank confirmed Haidee Lee&#8216;s return to Goldman Sachs as global co-head of Sponsor M&amp;A. 
This month, Goldman Sachs has reportedly agreed to sell Blanchardstown Centre, Ireland&#8217;s largest shopping mall, to <a href="https://www.benzinga.com/markets/equities/24/08/40400422/goldman-sachs-offloads-irelands-largest-mall-to-strategic-value-partners-report" target="_blank" rel="noreferrer noopener">credit firm Strategic Value Partners</a>.
Investors can gain exposure to the stock via iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
GS Price Action: Goldman Sachs shares are down 0.88% at $500.25 at publication Tuesday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

ETFs

What's Going On With Goldman Sachs Shares Tuesday?

Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) has reportedly agreed to sell Blanchardstown Centre, Ireland&#8217;s largest shopping mall,<a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/08/40364199/heres-how-much-goldman-sachs-invested-in-bitcoin-etfs-despite-saying-theyre-not-believers-" rel="noreferrer noopener"> to credit firm&nbsp;Strategic Value Partners.</a>
The U.S. investment firm, which put the shopping mall for sale last year, aspiring about €650 million ($713.37 million), is selling for a price lower than that, reported Bloomberg, citing people familiar with the discussions.
Goldman Sachs purchased the mall from Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) in late 2020, when it was esteemed at €750 million.
The complex has 180 stores and eateries with 16 million visitors a year. Occupants include Zara and Hollister.
After a decade of disruption from online shopping, malls are attracting investors again, the report mentioned.
Check This Out:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40391777/walmart-q2-earnings-e-commerce-and-advertising-businesses-fuel-revenue-and-profit-beat-hikes-annual" rel="noreferrer noopener">Walmart Q2 Earnings: E-commerce and Advertising Businesses Fuel Revenue And Profit Beat, Hikes Annual Guidance</a>
Recent declines have made space more affordable for retailers, reducing the risk of missed payments. Additionally, tenants benefit from 14 consecutive quarters of rising consumer spending in Dublin, the report highlighted, citing data compiled for the city&#8217;s local governments.
&#8220;Capital values for prime shopping centers in Europe have fallen more than 40% since the peak and rental values in the best malls are now increasing, so if yields stabilize there is value recovery potential,&#8221;&nbsp;Sue Munden, a senior analyst at&nbsp;Bloomberg Intelligence, said about the region&#8217;s retail properties in general.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, GS stock has gained over 50% in the past year.
Investors can gain exposure to the stock via&nbsp;iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: GS shares are trading higher by 0.73% to $502.35 at last check Thursday.
Image via Shutterstock
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Goldman Sachs Offloads Ireland's Largest Mall To Strategic Value Partners: Report

The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reportedly stated that the winner of the U.S. presidential election in November will have limited options to significantly increase <a href="https://www.benzinga.com/topic/oil">domestic oil supply next year</a>.
What Happened: The bank noted that low strategic petroleum reserve stocks and potential regulatory easing are unlikely to significantly boost U.S. oil supply in the short term, though they could impact long-term supply.
Oil prices edged up on Friday following U.S. economic data that exceeded analyst forecasts, boosting investor expectations for higher crude oil demand from the world&#8217;s largest energy consumer.
Brent crude futures for September were trading around $82 per barrel, while U.S. West Texas Intermediate crude for September was about $78.
Goldman Sachs forecasts Brent prices will range from $75 to $90 in 2025, assuming steady GDP growth, stable oil demand, and market balancing by OPEC and its allies.
Tariffs could lower oil prices by up to $19 if the Federal Reserve delays interest rate cuts past 2025 due to high core inflation. Brent could fall to $62 in Q4 2025, vs. the current forecast of $81.
The bank added, &#8220;While there is a lot of uncertainty about trade policy, tariffs on U.S. crude imports seem unlikely.&#8221;
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Why It Matters: For the past six years in a row, the U.S. <a href="https://www.eia.gov/todayinenergy/detail.php?id=61545">produced</a> more crude oil than any nation at any time, according to International Energy Statistics. 
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)&nbsp;and&nbsp;Global X Funds Global X Dow 30 Covered Call ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>).
What&#8217;s Next: Goldman Sachs predicts oil prices could drop by up to $11 per barrel next year due to weaker demand and GDP, particularly if the U.S. imposes a 10% tariff on goods imports.
Price Action: GS shares are up 0.37% at $493.52 premarket at the last check Friday.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Goldman Sachs Warns Of Limited Oil Supply Options For Next US Administration

The Goldman Sachs Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares are trading marginally lower today. The company&#8217;s&nbsp;alternative investments platform reportedly acquired seven logistics properties in Australia to expand its real estate portfolio for an undisclosed amount.
Goldman Sachs Alternatives acquired &#8220;last-mile&#8221; properties in Adelaide, Brisbane, Perth, and Melbourne, leased to e-commerce, transport, and wholesale distributors, Reuters reported.
Last-mile logistics assets, typically urban warehouses, facilitate final delivery processing before reaching end-users.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/07/39861967/goldman-sachs-to-launch-3-tokenization-projects-that-will-change-the-nature-of-investment" rel="noreferrer noopener">Goldman Sachs To Launch 3 Tokenization Projects That &#8216;Will Change The Nature Of Investment&#8217;</a>
The report quoted Nikhil Reddy, head of Asia Pacific real estate at Goldman Sachs Alternatives, who said, &#8220;This investment highlights our continued commitment to Australian real estate and reflects our conviction in sourcing Australian last-mile logistics properties for our investors.&#8221;
Since 2012, Goldman Sachs Alternatives has invested over A$13 billion ($8.62 billion) in Australia, with A$6.2 billion allocated to industrial assets, office and commercial properties, and data centers since 2017.
Last week, Goldman Sachs reportedly made several senior leadership appointments within its <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39855547/goldman-sachs-bolsters-m-a-team-with-key-hires-report" rel="noreferrer noopener">investment banking team</a>.
This month, the bank reported second-quarter revenue of&nbsp;$12.730 billion, beating the consensus of&nbsp;$12.456 billion and EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
Investors can gain exposure to the stock via IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Global X Funds Global X Dow 30 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>).
<h2 class="wp-block-heading">GS Stock Prediction 2024</h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Goldman Sachs have an average 1-year price target of $503.67, representing an expected upside of 3.41%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Goldman Sachs Gr, while 12 analysts have bullish ratings. The street high price target from Barclays is $565.0, while the street low from BMO Capital is $373.0.
Price Action: GS shares are down 0.05% at $486.82 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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Goldman Sachs Boosts Real Estate Portfolio with Australian Last-Mile Asset: Report

The Goldman Sachs Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reportedly made several senior leadership appointments within its investment banking team.
The company appointed former JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) banker Carsten Woehrn as joint co-head of M&amp;A in EMEA to &#8220;grow and develop our European franchise,&#8221; reported Reuters.
Woehrn previously led JPMorgan&#8217;s Infrastructure M&amp;A franchise in Europe, specializing in healthcare, energy, and transportation transactions.
As per the report, Goldman Sachs has appointed Nimesh Khiroya as co-head of M&amp;A in EMEA.
He will continue his role as co-head of UK Investment Banking while previously leading activism and shareholder advisory in EMEA and Nordic M&amp;A.
The memo confirmed Haidee Lee&#8217;s return to Goldman Sachs as global co-head of Sponsor M&amp;A. She previously served as co-head of strategic investor group M&amp;A at JPMorgan.
M&amp;A volumes hit $1.6 trillion globally in the first half of the year, up 20% from a year earlier, Reuters reported earlier.
As per report, Equity capital market volumes increased by 10% over the same period. In their quarterly earnings, Wall Street banks noted a more robust deal pipeline and a surge in investment banking activity.
Yesterday, Goldman Sachs Asset Management and Betterment jointly introduced the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39845249/goldman-sachs-and-betterment-launch-tax-smart-bonds-portfolio-for-savvy-investors-details" rel="noreferrer noopener">Goldman Sachs&nbsp;Tax-Smart Bonds portfolio</a>.
This week, the bank reported second-quarter revenue of&nbsp;$12.730 billion, beating the consensus of&nbsp;$12.456 billion and EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39801120/goldman-sachs-analysts-boost-their-forecasts-following-better-than-expected-earnings" rel="noreferrer noopener">Goldman Sachs Analysts Boost Their Forecasts Following Better-Than-Expected Earnings</a>
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Invesco KBW Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: GS shares are down&nbsp;0.10%&nbsp;at&nbsp;$485.73 premarket&nbsp;at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Sergei Elagin On Shutterstock.com

Goldman Sachs Bolsters M&A Team With Key Hires: Report

The Goldman Sachs Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares are trading lower today. Goldman Sachs Asset Management and Betterment jointly introduced the Goldman Sachs <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39840523/betterment-and-goldman-sachs-launch-industry-first-tax-smart-bonds-portfolio" rel="noreferrer noopener">Tax-Smart Bonds portfolio</a>.
Goldman Sachs has developed a strategy by combining short-duration U.S. Treasury bonds, high-quality corporate bonds, and municipal bond ETFs.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39776059/goldman-sachs-targets-asias-fast-growing-economies-with-new-2b-private-equity-fund-report" rel="noreferrer noopener">Goldman Sachs Targets Asia&#8217;s Fast-Growing Economies With New $2B Private Equity Fund: Report</a>
This portfolio leverages Goldman Sachs&#8217; expertise in bond markets and Betterment&#8217;s automation.&nbsp;
The Goldman Sachs Tax-Smart Bonds portfolio is tailored for clients in higher tax brackets seeking a lower-risk bond strategy compared to equities.
This approach adapts to both longer-term trends and current market conditions, ensuring flexibility to respond to events such as the COVID-19 pandemic and U.S. debt ceiling debates, which can impact market stability.
Padideh Raphael, Global Head of Third Party Wealth at Goldman Sachs Asset Management, said, &#8220;It is important for investors seeking to create and safeguard long-term wealth to consider after-tax returns in their portfolios.&#8221;&nbsp;
&#8220;This latest collaboration, combining Goldman Sachs&#8217;s investment capabilities with Betterment&#8217;s innovative technology platform and customer-first approach, will allow us to work together on behalf of clients who seek attractive after-tax bond yields.&#8221;
This week, the bank reported second-quarter revenue of&nbsp;$12.730 billion, beating the consensus of&nbsp;$12.456 billion and EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39801120/goldman-sachs-analysts-boost-their-forecasts-following-better-than-expected-earnings" rel="noreferrer noopener">Goldman Sachs Analysts Boost Their Forecasts Following Better-Than-Expected Earnings</a>
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Invesco KBW Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: GS shares are down 2.30% at $490.63 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Goldman Sachs and Betterment Launch Tax-Smart Bonds Portfolio for Savvy Investors: Details

RBC Capital Markets analyst Gerard Cassidy raised the price target of Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) to $108 from $91, maintaining a Sector Perform rating following strong second-quarter FY24 results.
Yesterday, the bank reported EPS of $1.82, beating&nbsp;the consensus of $1.65, and sales of $15.02 billion, exceeding <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39793333/morgan-stanley-q2-earnings-higher-profits-as-investment-banking-activity-rebounds-on-track-to-reach" rel="noreferrer noopener">the consensus of $14.30 billion</a>.
The analyst writes that the bank&#8217;s diversified business model, including Institutional Securities, Wealth Management, and Investment Management, drove strong quarterly results with mid-teens ROTCE, led by its premier investment banking and trading operations.
If market conditions remain favorable through the latter half of 2024, Morgan Stanley is poised to sustain these advantages, buoyed by its strong presence in investment banking and trading sectors, says the analyst.
Given the company&#8217;s strong excess capital position, the analyst anticipates the bank will reward shareholders with common share repurchases and increased dividends, which should result in the company returning up to 100% of earnings.
Cassidy adjusted the 2024 and 2025 EPS projections to $6.95 and $7.80, up from $6.67 and $7.75, respectively. This revision reflects anticipated gains in net interest income and non-interest income, tempered by increased expenses.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39803035/morgan-stanley-capital-markets-segment-shines-wealth-metrics-lag-analysts-praise-st" rel="noreferrer noopener">Morgan Stanley Capital Markets Segment Shines, Wealth Metrics Lag: Analysts Praise &#8216;Strong Cost Discipline&#8217;</a>
Apart from this, Barclays raised the price target to $121 from $116 and maintained an Overweight rating, and, Evercore ISI Group upped the price target to $115 from $105 and reiterated the Outperform rating.
Price Action: MS shares are up 0.45% at $106.70 at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Credits &#8211; Shutterstock

Reiteration

Morgan Stanley's Diversified Business Model Drives Q2 Success, Analyst Projects Increased Shareholder Returns

The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) shares are trading lower after the company reported second-quarter 2024 results. Adjusted net income declined&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39789825/schwab-reports-second-quarter-results" rel="noreferrer noopener">2% Y/Y to $1.465 billion</a>.
Adjusted EPS fell 3% Y/Y to $0.73, <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $0.72</a>.
Revenue rose 1% to $4.69 billion, beating the consensus of $4.68 billion. Asset management and administration fees rose 18% Y/Y to $1.38 billion.
The bank had $252.4 billion in deposits at the end of the second quarter of 2024, down 17% Y/Y.
Net interest revenue declined 6% Y/Y to $2.158 billion in the second quarter. Clients&#8217; daily average trades totaled 5.486 million, up 4% Y/Y.
In the second quarter of FY24, core net new assets grew 17% Y/Y to $61.2 billion, pushing the total client assets to $9.41&nbsp;trillion at quarter-end.&nbsp;
The company&#8217;s new brokerage accounts increased 4% Y/Y to 35.6 million.
Walt Bettinger, Co-Chairman and CEO, said, &#8220;Client interest in our broad array of wealth solutions remained strong through June. Year-to-date enrollments are up ~30% versus the prior year period and net flows into Managed Investing solutions reached $25 billion – an increase of 56% versus the first 6 months of 2023.&#8221;
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Tidal ETF Trust God Bless America ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YALL#NYSE">YALL</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39780640/bank-of-america-schwab-morgan-stanley-what-to-expect-from-tuesdays-earnings" rel="noreferrer noopener">Bank of America, Schwab, Morgan Stanley: What To Expect From Tuesday&#8217;s Earnings</a>
Price Action: SCHW shares are down 7.77% at $69.23 premarket at the last check Tuesday.
Photo via Shutterstock

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