Goldman Sachs Group cut its compensation outlays for the first nine months of the year by 21% from a year earlier. The giant investment bank reduced salaries and benefits when its earnings fell.
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Stocks fell sharply Tuesday after a surprise rate hike from China’s central bank and mixed quarterly earnings reports led to heavy selling in technology, materials and energy stocks.
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Morgan Stanley is expected to report sharp declines in third-quarter earnings and revenue ahead of Wednesday’s opening bell, hurt by months of weak trading activity. The financial giant is forecast to post earnings of 15 cents …
Goldman Sachs reported sharp declines in third-quarter earnings and revenue, hurt by slower summer trading activity. But its profits still easily exceeded analysts’ average forecast.
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Analysts expect the leading Web portal to report a 15% increase in earnings for the second quarter, largely due to cost cutting. Revenues are expected to be flat year-over-year.
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