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18.07.25 - 17:15
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Goldman, UBS Encouraged By Burberry′s Turnaround Momentum After Earnings Print (ZeroHedge)
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Goldman, UBS Encouraged By Burberry's Turnaround Momentum After Earnings Print
The global luxury market remains under pressure across all major regions—from Asia to Europe to the U.S.—but one brand may be turning a corner. British trench coat maker Burberry has been undergoing a multi-quarter turnaround, showing early signs of a potential bottoming out. A sustained recovery, however, will depend on consumer sentiment holding up amid ongoing trade disputes and mounting macroeconomic headwinds.
Burberry shares jumped 7% in London after the luxury brand reported better-than-expected first-quarter sales—offering a much-needed sigh of relief for traders and investors who've been buying the dip. The rally follows a brutal multi-year bear market, with shares down as much as 78% from their early 2023 peak of £2,656 to a low of £597 by mid-2024.
And the retracement begins.
Q1 FY 2025 was better than expected:
Comparable Retail Sales: -1% (better than -3.67% expected)
Retail Sales...
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16.07.25 - 16:33
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Bank of America Misses On Revenue Despite Stellar Sales And Trading Results, Projects Two Rates Cuts In NII Forecast (ZeroHedge)
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Bank of America Misses On Revenue Despite Stellar Sales And Trading Results, Projects Two Rates Cuts In NII Forecast
The strong bank earnings continued for a second day, when after solid results from JPM yesterday (if rather mediocre from Wells) this morning we got top and bottom line beats from Goldman, Morgan Stanley and Bank of America. Taking a closer look at the latter, the bank's traders posted a record second quarter - yet one which missed revenue estimates - as the company reaped the benefits of volatile markets and net interest income topped analysts' estimates.
While BofA reported an EPS beat (Q2 came at $0.89, vs est of $0.85), total Q2 revenue of $26.5 billion was down 3% YoY from $27.4 billion a year ago, and missed estimates of $26.75 billion. Overall, Bank of America's second-quarter profit rose, with net income up 3.2% to $7.12 billion, more than the $6.56 billion analysts had predicted.
Still, revenue from fixed income, currencies and commodities trading jumped 19% to $3....
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16.07.25 - 16:06
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Goldman Reports Historic Trading Revenue (Bloomberg)
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Gerard Cassidy, RBC Capital Markets Head of US Bank Equity Strategy & Large Cap Bank Analyst, says increased volatility is one of the reasons why Goldman is seeing better trading numbers this quarter. (Source: Bloomberg)...
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16.07.25 - 14:12
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Live: Goldman Sachs (NYSE: GS) & PNC Financial Services (NYSE: PNC) Earnings Coverage (24/7 Wall St.)
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Live Updates Live Coverage Updates appear automatically as they are published. Goldman Sachs Results Are out 7:54 am by Eric Bleeker Need-to-Know Numbers: Revenue: $14.58 billion (tops estimates of $13.58 billion) EPS: $10.91 (tops estimates of $9.62) Goldman Sachs reported its second quarter 2025 earnings, revealing net revenues of $14.58 billion and net earnings of […]
The post Live: Goldman Sachs (NYSE: GS) & PNC Financial Services (NYSE: PNC) Earnings Coverage appeared first on 24/7 Wall St.....
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