Goldman Sachs misses Street’s expectations, sees shares fallCan good things come in fours?
JPM CEO Jamie Dimon is sometimes seen as the dean of Financial CEOs, and his words about the economy have a close following in the markets. Today, he again cited the strong consumer, but also sounded slightly cautious about the economy in general. It looks like weakness in GS’s investment banking division played a role in the disappointing results. GS “was stung by soured investments” in Q3, Bloomberg reported, noting the company’s investments in Uber and several other big names. It’s unusual to see GS miss on earnings, and media outlets said it hasn’t happened in two years.
WFC has struggled for a few years now in the wake of the fake bank accounts scandal, and its shares have lagged the performance of some of the other big banks so far this year. Seeing how NFLX climbed on Monday raises the question of whether it’s finally getting some love from investors after being left out of the show for a while. NFLX shares have been beaten up lately, but if the company can meet their numbers and say what investors want to hear tomorrow—even with DIS at the launching pad with Disney+—maybe today’s rally could look justified.
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