Motley Fool Money Goldman Sachs Drags Down the Dow
Jan 17, 2023
Jason Moser, a senior analyst at Motley Fool, breaks down Goldman Sachs' alarming 66% profit drop and discusses its worst earnings miss in a decade. He highlights the struggles of the investment bank, including setbacks in the Apple Card partnership. The conversation also touches on Disney's assertive response to activist investor Nelson Peltz’s demands, revealing the company's strategic pivot in a tough media landscape. Finally, expert insights on how the Secure 2.0 Act affects savings and retirement plans provide valuable takeaways for investors.
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Goldman's Underperformance
- Goldman Sachs experienced its worst earnings miss in a decade, with profits down 66%.
- This was worse than anticipated, primarily due to the challenging investment banking environment.
Dealmaking Decline and Diversification Struggles
- Goldman Sachs' struggles stem from a decline in dealmaking due to market uncertainty and recessionary concerns.
- Their investments in diversifying the business, like Marcus and the Apple Card, haven't paid off yet.
Disney's Response to Peltz
- Disney responded to Nelson Peltz's activist push, stating he lacks relevant media experience.
- They argue Peltz's claims about the Fox acquisition are already known and being addressed.