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Wall Street Businesses Power Goldman, JPMorgan to Record Earnings -- Update

By Peter Rudegeair, Orla McCaffrey and Ben Eisen
A stock-market boom fueled by Reddit-reading individual investors and a burst of companies entering the public markets produced record quarterly profits at Wall Street's biggest banks.
Goldman Sachs Group Inc. posted records in quarterly revenue and profit. JPMorgan Chase & Co. notched its highest quarterly profit on record, driven by record revenue from trading stocks. Even Wells Fargo & Co., a minnow on Wall Street, enjoyed its best-ever quarterly profit in corporate and investment banking.
The party showed no signs of ending soon. Even after reporting a 73% increase in investment-banking fees, Goldman said the volume of coming transactions in that business at the end of the first quarter stood at a record level.

United-states , American , Ben-eisen , Jennifer-piepszak , Orla-mccaffrey , Peter-rudegeair , Charles-scharf , David-solomon , Gamestop-corp , Even-wells-fargo-co , Jpmorgan-chase-co , Goldman-sachs-group-inc

Wall Street Businesses Power Goldman, JPMorgan to Record Earnings — Update

Provided by
Dow Jones
By Peter Rudegeair, Orla McCaffrey and Ben Eisen
A stock-market boom fueled by Reddit-reading individual investors and a burst of companies entering the public markets produced record quarterly profits at Wall Street's biggest banks.
Goldman Sachs Group Inc. posted records in quarterly revenue and profit. JPMorgan Chase & Co. notched its highest quarterly profit on record, driven by record revenue from trading stocks. Even Wells Fargo & Co., a minnow on Wall Street, enjoyed its best-ever quarterly profit in corporate and investment banking.
The party showed no signs of ending soon. Even after reporting a 73% increase in investment-banking fees, Goldman said the volume of coming transactions in that business at the end of the first quarter stood at a record level.

United-states , American , Ben-eisen , Jennifer-piepszak , Orla-mccaffrey , Peter-rudegeair , Charles-scharf , David-solomon , Gamestop-corp , Even-wells-fargo-co , Jpmorgan-chase-co , Goldman-sachs-group-inc

Sheriff Gensler comes to town

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04/15/2021 08:00 AM EDT
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Goldman Sachs Profit Rises Sharply on Strong Trading, Dealmaking

Provided by
Dow Jones
By Peter Rudegeair
Goldman Sachs Group Inc. reported sharply higher profits for the first quarter, benefiting from a turbocharged market and an economic recovery.
Goldman reported quarterly profit of $6.84 billion, or $18.60 a share, on revenue of $17.7 billion. Both measures were up significantly from a year ago -- when the bank posted profit of $1.2 billion on revenue of $8.7 billion -- and exceeded the expectations of analysts polled by FactSet, who forecast profit of $10.22 a share on revenue of $12.56 billion.
The first three months of 2021 were a frenetic period for banks' capital markets and trading arms. Reddit-reading retail traders sent so-called meme stocks to new heights. Record amounts of money poured into blank-check firms, several of which announced deals during the quarter to bring fast-growing companies including Social Finance Inc. and Lucid Motors Inc. to the public markets.

Peter-rudegeair , Lucid-motors-inc , Goldman-sachs-group-inc , Dow-jones-company-inc , Sachs-group , Social-finance , Lucid-motors , Dow-jones , தெளிவான-மோட்டார்கள்-இன்க் , கோல்ட்மேன்-சாக்ஸ்-குழு-இன்க் , டோ-ஜோன்ஸ்-நிறுவனம்-இன்க் , சாக்ஸ்-குழு

Wall Street Businesses Power Goldman, JPMorgan to Record Earnings

Wall Street Businesses Power Goldman, JPMorgan to Record Earnings
morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.

United-states , American , Ben-eisen , Jennifer-piepszak , Peter-rudegeair , Orla-mccaffrey , Charles-scharf , David-solomon , Gamestop-corp , Even-wells-fargo-co , Jpmorgan-chase-co , Goldman-sachs-group-inc

Goldman Profit Rises Sharply on Strong Trading, Deal Making — 2nd Update

Goldman Profit Rises Sharply on Strong Trading, Deal Making — 2nd Update
morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.

Peter-rudegeair , Lucid-motors-inc , Goldman-sachs-group-inc , Credit-suisse-group , Dow-jones-company-inc , Goldman-sachs , Sachs-group , Social-finance , Lucid-motors , Chief-executive-david-solomon , Archegos-capital-management , Suisse-group

Goldman Profit Rises Sharply on Strong Trading, Deal Making — Update

Goldman Profit Rises Sharply on Strong Trading, Deal Making — Update
morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.

Peter-rudegeair , Lucid-motors-inc , Goldman-sachs-group-inc , Dow-jones-company-inc , Credit-suisse-group , Sachs-group , Social-finance , Lucid-motors , Archegos-capital-management , Suisse-group , Dow-jones , தெளிவான-மோட்டார்கள்-இன்க்

FRACKING ban fails — NEWSOM pauses J&J VACCINE — Breakthrough in KRISTIN SMART case — PELOSI beckons BIDEN speech

FRACKING ban fails — NEWSOM pauses J&J VACCINE — Breakthrough in KRISTIN SMART case — PELOSI beckons BIDEN speech
politico.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from politico.com Daily Mail and Mail on Sunday newspapers.

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PPP loan changes came too late for smallest businesses

PPP loan changes came too late for smallest businesses
foxbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foxbusiness.com Daily Mail and Mail on Sunday newspapers.

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Small businesses seek more time to apply for PPP loans

Small-business advocates are calling on the federal government to extend the March 31 deadline to apply for a loan from the Paycheck Protection Program, citing recent changes made to the program and delays in processing applications.

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