David Solomon, the CEO of Goldman Sachs, speaks during the Bloomberg Global Business Forum in New York, September 25, 2019. Shannon Stapleton | Reuters Goldman Sachs reported first-quarter earnings before the opening bell Wednesday. Goldman Sachs earned $3.11 a share in the first quarter with revenue of $8.74 billion. Goldman shares are lower by 1.6% in
Month: April 2020
Michael Corbat, CEO of Citigroup at the 2018 WEF in Davos, Switzerland. Adam Galica | CNBC Citigroup reported first-quarter earnings on Wednesday. Here’s how the company did: Earnings: $1.05 per share vs $1.87 per share in the year-earlier period Revenue: $20.7 billion, up 12% from the previous year Net income: $2.52 billion, down 46% from
CNBC Make It is posting a new financial task to tackle each day for a month. These are all meant to be simple, time-sensitive activities to take your mind off of the news for a moment and, hopefully, put you on sturdier financial footing. This is day eight of 30. If you are worried about losing
U.S. banks are not hesitating to set aside billions of dollars in case of coronavirus-driven loan losses because it allows them to mask substantial increases in quarterly trading revenue, Mohamed El-Erian said Wednesday. The chief economic advisor at Allianz acknowledged on CNBC that banks are certainly adding to their credit reserves in an anticipation of a wave of defaults related to the
Our brains are wired to look for danger and react quickly to an approaching attack; however, this most recent threat is invisible, but no less distressing to our primitive brains. Plummeting stock prices are sending some investors over the edge, leading to irrational behavior that has dire long-term financial repercussions. In his book, “Your Money
JGI/Jamie Grill Millions of Americans are slated to get payments of up to $1,200 per person from the government this week, and now there’s a way to track your money. On Wednesday, the Treasury Department and IRS launched a new free web app called “Get My Payment” that allows taxpayers to find the status of
David Lee, owner of Blue Moon Construction, LLC, in Tampa, Florida. Bibi Sipra A loan program meant to pump fast cash into small businesses has failed on almost all accounts, according to business owners. The Economic Injury Disaster Loan program is among the core financial-relief measures the federal government has pushed to entrepreneurs hobbled by
Medical personnel are seen outside NYU Langone Health hospital as people applaud to show their gratitude to medical staff and essential workers on the front lines of the coronavirus pandemic on April 11, 2020 in New York City. Noam Galai | Getty Images The coronavirus pandemic outlined exactly what America sees as essential for a
Christine McCarthy, a nurse for over 20 years and a palliative nurse for the past year, sits for a portrait on an empty hospital bed at Massachusetts General Hospital in Boston on Apr. 2, 2020. Here at the states largest hospital, staff are coping with unprecedented realities in this coronavirus pandemic and deeply worried about what
A worker carries out sanitation operations for the Coronavirus emergency in Piazza dei Miracoli near to the Tower of Pisa in a deserted town on March 17, 2020 in Pisa, Italy. Laura Lezza | Getty Images An increasing number of countries could default on their debt in the coming 12-18 months as governments globally increase
California Gov. Gavin Newsom Rich Pedroncelli | AP California Gov. Gavin Newsom announced Tuesday a guide to how Californiawill reopen society and the economy across the state as officials weigh lifting restrictive orders meant to curb the spread of the coronavirus. Newsom became the first governor to issue a statewide stay-at-home order on March 19.
Shannon Stapleton | Reuters Professional investors are heading for the sidelines while demanding that companies stop using their cash to buy back stocks and instead improve their balance sheets. The Bank of America Global Fund Manager survey for April reflects the large level of caution seen in the markets since efforts to stop the coronavirus
urfinguss | Getty Images A fight could be brewing over your coronavirus stimulus check. Your opponent could be your very own bank. If you have outstanding debts, your stimulus payments could be reduced or taken by creditors or debt collectors, in what 25 state attorneys general called a “legislative oversight” in a letter sent to
Andrew Karas founded and co-owns Asbury Park Distilling Co. in New Jersey Andrew Karas When the coronavirus outbreak began shutting down businesses, Andrew Karas had to think fast about how to survive. His business, New Jersey-based Asbury Park Distilling Co., produces spirits and distributes them to restaurants, bars and liquor stores. “It’s tough. The industry
Christine McCarthy, a nurse for over 20 years and a palliative nurse for the past year, sits for a portrait on an empty hospital bed at Massachusetts General Hospital in Boston on Apr. 2, 2020. Here at the states largest hospital, staff are coping with unprecedented realities in this coronavirus pandemic and deeply worried about what
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Johnson & Johnson shares rose by more than 3% Tuesday in premarket trading after the U.S. drugmaker raised its quarterly dividend even as it cut full-year earnings guidance due to the coronavirus outbreak. J&J raised its dividend from 95 cents a
Stock futures were flat in overnight trading following a big rally in the previous session fueled by optimism that the coronavirus outbreak is improving in the U.S. Dow futures rose 0.25%, indicating a gain of 13 points. The S&P 500 and Nasdaq were set to open slightly lower. Signs that the coronavirus pandemic is easing
A JetBlue Airways Corp. plane taxis next to American Airlines Group Inc., Delta Air Lines Inc., and Alaska Airlines Inc. aircraft at Reagan National Airport (DCA) in Arlington, Virginia, U.S., on Monday, April 6, 2020. Andrew Harrer | Bloomberg | Getty Images U.S. airlines and the Treasury Department have reached an agreement in principle on
CNBC’s Jim Cramer said that dominant U.S. companies are further solidifying their positions during the coronavirus pandemic, evidenced by the Nasdaq 100 being almost even for the year. “This is the big triumphing over the little guy and if you don’t mind making money in the market off that, that’s what’s going on,” Cramer said on “Squawk on the
Yuka Ioroi, co-owner of Cassava restaurant on Balboa Street in San Francisco manages take-out orders on April 8, 2020. San Francisco Chronicle/Hearst Newspapers via Getty Images Nearly 7.5 million small businesses are at risk of closing their doors permanently over the next several months if the coronavirus pandemic persists, according to a survey. Around two-thirds
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