Career News 24/7: Before the Bell: Goldman Sachs profit falls 11 percent but beats estimates

Thursday, April 17, 2014

Before the Bell: Goldman Sachs profit falls 11 percent but beats estimates

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04/17/2014

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Goldman Sachs profit falls 11 percent but beats estimates

(Reuters) - Goldman Sachs Group Inc reported an 11 percent drop in quarterly profit as client activity remained constrained and fixed-income revenue shrank, but both earnings and revenue beat market estimates and the Wall Street bank's shares rose.

Jobless claims rise less than expected

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose less than expected last week and remained near its pre-recession levels, offering further evidence of the economy's underlying strength.

GE industrial profits rise 12 percent, shares up

(Reuters) - General Electric Co posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and transportation.

Wall Street to open little changed on mixed earnings

NEW YORK (Reuters) - Wall Street was set to open little changed Thursday, following three days of gains, as underwhelming results from tech giants Google and IBM were offset by upbeat quarterly numbers from the likes of Morgan Stanley, Goldman Sachs and General Electric.

Morgan Stanley profit soars on wealth management, trading

(Reuters) - Morgan Stanley reported a 55 percent jump in first-quarter earnings as higher revenue from the bank's institutional securities business augmented another strong quarter from wealth management.

Snack sales help PepsiCo beat profit estimates; soda steadies

(Reuters) - PepsiCo Inc beat profit expectations on Thursday as a booming snacks unit added pep to sales and its struggling North American soda business did better than expected, sending shares up more than 2 percent in premarket trading.

BlackRock's first-quarter profit rises 20 percent

NEW YORK (Reuters) - BlackRock Inc, the world's largest money manager, said on Thursday its first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured money into long-term funds.

UnitedHealth says first-quarter profit fell on reform costs

(Reuters) - UnitedHealth Group Inc , the largest U.S. health insurer, said on Thursday that first-quarter profit fell due to costs and taxes related to the national healthcare reform law as well as government cuts to private Medicare funding.

U.S. delay pushes Canada oil pipeline choke points upstream

CALGARY, Alberta (Reuters) - Enbridge Inc is on the brink of breaking through oil pipeline bottlenecks in the U.S. Midwest that have dogged the company for nearly four years, potentially ending a need to ration space at the heart of its network.

Google still top pick for Wall Street, despite mobile ad challenges

(Reuters) - Google Inc's disappointing first-quarter results left Wall Street unfazed about the internet giant's ability to come to grips with a shift to the fast-growing mobile advertising market.