Goldman Sachs posts Q2 earnings blowout, powered by investment banking

Goldman Sachs (GS) reported second-quarter earnings results on Tuesday that far exceeded Wall Street’s expectations, driven by strength in investment banking. Here were the key figures versus expectations:  Adjusted earnings per share (EPS): $15.02 per share vs. $10.15 estimate Revenue: $15.39 billion vs. $12.43 billion estimate Goldman’s investment banking business posted its second-best quarter ever with $3.61 billion, following a record first quarter. Revenue from investment banking… Source link

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Trump’s war on tech has already collapsed

Former President Donald Trump speaks at Trump National Golf Club in Bedminster, N.J., Wednesday, July 7, 2021. (AP Photo/Seth Wenig) Donald Trump has launched a new broadside against Big Tech, with a fresh lawsuit claiming Facebook, Twitter and Google illegally banned him from their platforms. Trumpers might cheer, but the former president already has a losing record in his war against tech, and it’s likely to get worse. During the second half of his presidency, Trump turned verbal assaults… Source link

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JPMorgan earnings soar amid ‘exceptionally strong’ consumer balance sheets, credit release

JPMorgan Chase (JPM) kicked off the second quarter earnings season for bulge-bracket backs on Tuesday, reporting better-than-expected earnings results that were bolstered by a strong economy and the release of credit reserves. Here are the key figures versus estimates, according to Bloomberg: Adjusted earnings per share (EPS): $3.78 vs. $3.15 estimate Excluding credit reserve releases: $3.03 per share Revenue: $31.4 billion vs. $30.06 billion estimate During the quarter, the largest U.S. bank by… Source link

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Google fined 500 million euros in France in news copyright row

The Google logo displayed on a smartphone with the front pages of several newspapers pictured in the background. Hakan Nural | Anadolu Agency via Getty Images Google was fined 500 million euros ($593 million) Tuesday by French competition regulators for failing to comply with an order to negotiate fair deals with news publishers for the use of their content. France’s Competition Authority said Google had breached an April 2020 ruling that ordered the company to negotiate “in good faith”… Source link

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France hits Google with a $600 million fine

The regulator said in a statement on Tuesday that Google (GOOGL) had disregarded several injunctions related to the tech company’s negotiations with French news publishers. Google was fined €500 million ($592 million) over its failure to comply. If the search giant does not present compensation offers to publishers within the next two months, it faces additional penalties of up to €900,000 ($1.1 million) per day. “When the regulator imposes obligations for a company, it must comply… Source link

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France hits Google with a $600 million fine

The regulator said in a statement on Tuesday that Google (GOOGL) had disregarded several injunctions related to the tech company’s negotiations with French news publishers. Google was fined €500 million ($592 million) over its failure to comply. If the search giant does not present compensation offers to publishers within the next two months, it faces additional penalties of up to €900,000 ($1.1 million) per day. “When the regulator imposes obligations for a company, it must comply… Source link

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PepsiCo blows away earnings forecasts, raises 2021 outlook

PepsiCo’s (PEP) second quarter earnings release is going down easy for investors.  The beverage and snacks giant — widely expected by analysts to have a strong quarter as economies globally re-open from the pandemic — blew away forecasts across the board. Total revenue rose 20.5% from a year ago, powered by strong double-digit sales gains in PepsiCo’s North America beverage, Latin America, EU and Africa businesses. Sales rose by 6% each in the Frito Lay North America and Asia Pacific… Source link

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Virgin Galactic Plans to Sell $500M in Stock; Shares Fall 17%

Virgin Galactic Holdings (SPCE) is looking to sell up to $500 million worth of common stock. The company has engaged the services of Credit Suisse Securities (CS), Morgan Stanley (MS), and Goldman Sachs (GS) as part of a capital raising drive. The three will act as the company’s agents in the sale. SPCE stock price plunged 17.30% to close at $40.69 yesterday. The agents are entitled to commission at a mutually agreed rate that will not exceed 2% of the gross sales price. (See Virgin… Source link

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Bitcoin’s Range Play Likely to End With Bullish Breakout: Analyst

An analyst who predicted the bitcoin mid-May price slide says the cryptocurrency’s current range play is likely to be resolved on the higher side. “The consolidation phase itself is neutral, but we think a breakout is more likely than a breakdown,” Katie Stockton, founder and managing partner of Fairlead Strategies, said in a research note published on Monday. “Intermediate-term momentum has been improving based on the MACD histogram.” Bitcoin has been trading between $30,000 and… Source link

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