Goldman Performs Well in Shaky 2Q; First Quarter of 2020 Goals and New Initiatives in Spotlight
Narrow-moat Goldman Sachs reported respectable performance in the second quarter, despite swings in sentiment regarding U.S. trade policy and global monetary policy. The company reported net income to common shareholders of $2.2 billion, or $5.81 per diluted share, on $9.5 billion of net revenue. Net revenue decreased 2% from the previous year, as a 20% increase in principal investment equity gains to $1.5 billion wasn't enough to offset declines in debt underwriting, fixed income, currency, and...Goldman Sachs Group is a bank holding company and financial holding company. The company is a global investment banking, securities and investment management firm that provides a range of financial services to corporations, financial institutions, governments and individuals. The company operates in four business segments: Investment Banking, which serves public and private sector clients and provides financial advisory services; Global Markets, which serves its clients who come to the company to buy and sell financial products, raise funding and manage risk; Asset Management, which provides investment services; and Consumer & Wealth Management, which provides a range of wealth advisory and banking services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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