In the most recent trading session, Goldman Sachs (GS) closed at $471.03, indicating a +0.83% shift from the previous trading day.
GS nears closing a deal to sell GM Credit Card Business to Barclays. This move is a part of the company's efforts to refocus on IB and the trading business.
Goldman Sachs has appointed Raghav Maliah, Yoshihiko Yano and Ed Wittig as co-heads of mergers and acquisitions in Asia Pacific to expand and deepen deals coverage in the region, according to an internal memo on Tuesday seen by Reuters.
Goldman Sachs this week reported losses related to its Main Street lending business. The banking giant has been pulling away from the credit card lending space, a departure that a Tuesday (Sept.
GS' third-quarter trading revenues are likely to decline 10% due to a sluggish macro environment.
The price of a share in the bank fell by just over $19 the day after its chief executive spoke to an investor conference in New York.
JPMorgan stock also falls on drop in activity in the current quarter, mostly due to weak bond trading.
Solomon blamed the decline on a challenging macroeconomic backdrop, especially during August.
Goldman Sachs will post a roughly $400 million pretax hit to third-quarter results as the bank continues to unwind its ill-fated consumer business. CEO David Solomon said Monday at a conference that by unloading Goldman's GM Card business, as well as a separate portfolio of loans, the bank would post a hit to revenues next month.
Goldman Sachs' trading revenue will probably slip 10% in the third quarter because of sluggish conditions last month, its CEO David Solomon said on Monday.
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