The Market Blahs Are Hitting Wall Street's Bottom Lines
The news from Goldman Sachs on May 25 was a blow. Nearly all of the company's major revenue streams had slowed steadily since mid-March, according to analysts who then slashed second-quarter profit estimates by as much as 10%. Most troubling: Billions of dollars in investments in recent Internet initial public offerings have declined sharply in value. Goldman's stock plummeted 9% that day, to $73 a share; in total, it has lost nearly half of the $60 billion market value it boasted in March.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Getting a Dog May Save Your Life, Especially If You’re Single
- The Questionable Math Behind Manafort’s Extravagant Home Renovations
- Musk Dusts Off the Fundraising Playbook With Semi, Roadster Orders