An oil pump at sunset in Daqing, Heilongjiang province, China, on July 13, 2006. Lucas Schifres | Getty Images China’s demand for major commodities continues to grow at a robust rate, according to Goldman Sachs. The investment bank reports that China’s demand for copper has risen by 8% year on year, while appetite for iron …
A customer uses an ATM at a Wells Fargo Bank in San Bruno, California, on April 14, 2023. Justin Sullivan | Getty Images Check out the companies making headlines in midday trading. Cintas — Shares fell 5.3% after the company reported its 2024 fiscal first-quarter earnings. The corporate apparel company posted $3.70 in earnings per …
As equities soared in 2020 and consumers flocked to trading apps like Robinhood, Apple and Goldman Sachs had been developing an investing feature to facilitate buying and selling stocks, according to three anonymous sources. The project was put on hold last year due to market downturns, the sources said. This previously unreported effort would have …
Frederic J. Brown | AFP | Getty Images Credit card companies are experiencing a surge in losses, surpassing levels seen in the past three decades, with the exception of the Great Financial Crisis, according to a report by Goldman Sachs. Following a brief decline in September 2021, credit card losses have been steadily increasing since …
Dave McCormick’s second run for a U.S. Senate seat from Pennsylvania was preceded by a lavish party at fashion designer Tory Burch’s Hamptons estate, attended by influential Wall Street figures and held to celebrate McCormick’s new book, “Superpower in Peril.” Among the notable guests were past and current executives from Goldman Sachs, including Lloyd Blankfein, …
The Pinterest app on a mobile phone. Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines before the bell. Dollar General — Dollar General shares dropped by 2% after JPMorgan downgraded the discounter to underweight from neutral. The downgrade comes as the company’s core shopper deals with rising inflationary pressures and …
Morgan Stanley Initiates AI Revolution on Wall Street In a groundbreaking move, Morgan Stanley has officially ushered in the era of generative AI on Wall Street. The bank is proud to announce that its newly created assistant, powered by OpenAI’s advanced generative AI software, is now fully operational for all financial advisors and their support …
Instacart announced its updated filing for the highly anticipated initial public offering (IPO) on Monday. The company aims to raise up to $616 million, differentiating between fresh capital and existing shareholders, with a valuation reaching $9.3 billion. In the IPO, Instacart plans to offer shares at a price range of $26 to $28. This offering …
David Solomon, Goldman Sachs interview with David Faber, September 7, 2023. CNBC The return of large tech IPOs this week after a prolonged drought isn’t just a test of investors’ appetite for risky new offerings — it’s a key moment for Wall Street’s top advisor, Goldman Sachs. Chip designer Arm is expected to begin trading …
The upcoming wave of technology initial public offerings (IPOs) has the potential to revitalize sluggish capital markets, according to Goldman Sachs’ CEO, David Solomon, in an exclusive interview with CNBC’s David Faber. Solomon mentioned that companies considering going public, such as chip designer Arm and grocery delivery service Instacart, will closely monitor the performance of …