Goldman boosts dividend after solid earnings
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 15 July 2024
⏱️ 10 minutes
🧾️ Download transcript
Summary
Show Notes
Raymond James' Larry Adam On Possible Rate Cuts, Averting Recession And What's Priced In
Nvidia faces French probe over anti-competitive practices
Walmart continues to add more restaurant chains to its stores
Episode transcripts: seekingalpha.com/wsb
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news and analysis. |
| 0:10.0 | Good afternoon, today is Monday, July 15th, and I'm your host Kim Khan. Our top story |
| 0:15.1 | so far. Goldman Sachs topped earnings and revenue expectations for Q2 and |
| 0:19.8 | also boosted its dividend. Goldman's earnings reflected strong year-on-year growth in |
| 0:24.8 | both global banking and markets and asset and wealth management, CEO David |
| 0:29.0 | Solomon said. Debt and equity underwriting helped to fuel the year over year strength. |
| 0:34.0 | Q2 operating expenses, though lower from the previous quarter and a year ago, also came in higher than the average analyst estimate. |
| 0:41.0 | Q2 GAP EPS of 862 topped the 840 |
| 0:45.2 | consensus jumping from 308 in Q2 2023. Total net revenue me a while rose to |
| 0:51.4 | 12.7 billion topping the average analyst estimate of 12.4 billion. |
| 0:56.2 | That's down from 14.2 billion in the prior quarter and up from 10.9 billion a year ago. |
| 1:01.4 | 2-2 net interest income of 2.4 billion flew past the visible alpha consensus of 1.66 billion. |
| 1:08.2 | Provision for credit losses of $282 million was lower than the $476 million visible alpha estimate. |
| 1:15.0 | Goldman declared a quarterly dividend of $3 per share up from the prior dividend of $275. |
| 1:21.0 | In today's trading, stocks are higher with the broader market up about half a percent. |
| 1:26.0 | Treasury yields are moving higher on the longer end of the curve and lower on the shorter end. |
| 1:30.0 | The 30-year yield moved above the two-year yield for the first time since January. |
| 1:35.0 | The two-stands inverted spread, narrowed to 23 basis points, its closest level to normalization since January 29th. |
| 1:42.0 | Society General indicated that the two year has breached the lower band of its range that was developed during May and June. |
| 1:49.0 | It's now probing the March trough of 4.44% slash 4.4%, which also represents a trend line drawn since last year. |
| 1:58.0 | Daily MacD is anchored with a negative territory denoting prevalence of downward momentum. |
| 2:03.7 | In case a brief up move takes shape, the 50-day moving average near 4.74% to 4.8% is likely to remain an important |
... |
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