What's Going On Goldman Sachs Stock Premarket Tuesday?
Portfolio Pulse from Lekha Gupta
Goldman Sachs shares are trading lower premarket due to expected 10% drop in trading revenue for Q3. CEO David Solomon remains optimistic about investment banking and private equity deals. The bank is narrowing its consumer business focus, impacting revenues by $400 million pre-tax.
September 10, 2024 | 1:03 pm
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NEGATIVE IMPACT
Goldman Sachs shares are down premarket as CEO David Solomon forecasts a 10% decline in Q3 trading revenue. The bank is narrowing its consumer business focus, impacting revenues by $400 million pre-tax.
The forecasted decline in trading revenue and the strategic shift away from consumer business are likely to negatively impact Goldman Sachs' short-term stock price. The $400 million pre-tax impact on revenues further supports this negative outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
iShares U.S. Broker-Dealers & Securities Exchanges ETF, which includes Goldman Sachs, may see a slight negative impact due to GS's forecasted revenue decline.
As an ETF that includes Goldman Sachs, IAI may experience a slight negative impact due to GS's expected revenue decline, though the diversified nature of the ETF may mitigate the effect.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Invesco KBW Bank ETF, which includes Goldman Sachs, might experience a minor negative impact due to GS's forecasted revenue decline.
KBWB, which includes Goldman Sachs, might see a minor negative impact due to GS's expected revenue decline, but the ETF's diversified holdings could cushion the effect.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50