Investors should brace for corporate profits to see their biggest drop since the start of the pandemic, Goldman Sachs says
As markets head into first-quarter earnings season, Goldman Sachs strategists say corporate profits are set for their steepest decline since the start of the COVID-19 pandemic in 2020.
"However, if analyst projections are realized, this quarter will represent the trough in S&P 500 earnings growth. Materials and Health Care are expected to report the largest earnings declines," the note reads."Communication Services and Info Tech stocks are also expected to announce dramatic EPS declines despite recent surging share prices of some of these sectors' largest constituents.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs fined $3 mln by FINRA over mismarking short sale ordersThe Financial Industry Regulatory Authority, Wall Street's self-funded watchdog, fined Goldman Sachs Inc $3 million on Tuesday for mistakenly marking some of its stock orders as 'long' instead of 'short', and for trade reporting violations.
Read more »
Goldman Sachs loves these stocks, but the rest of Wall Street hates themThe Wall Street firm identified a slew of stocks where its analysts are bullish but the majority of the Street gave either a natural or sell rating.
Read more »
US earnings set to be weakest since COVID pandemic, Goldman Sachs warnsProfit margins are expected to decline as an economic slump weighs on top companies.
Read more »
36 stocks to buy for double-digit earnings growth: Goldman SachsGoldman Sachs: Buy these 36 stocks that can achieve double-digit earnings growth this year even though the market is destined for flat profits
Read more »
Why bank savings deposit rates aren't keeping up with the Fed's rate hikesIncreases to the Federal Reserve's policy rate usually take a few quarters to filter through to bank deposit rates, say Goldman Sachs economists.
Read more »
FedEx combines air, ground, other operations to slash costsFedEx will combine almost all of its ground, air and other operations by next year as part of a $4 billion cost cutting plan. The package delivery company said Wednesday that FedEx Express, FedEx Ground, FedEx Services and other FedEx operating companies will be rolled into a single entity by June 2024 in a companywide reorganization. FedEx Freight, the company’s freight transportation services division, will continue as a stand-alone company within Federal Express. The company said in September that its operating expenses were rising and that it was maneuvering to address those costs.
Read more »