Goldman Sachs Reports Q3 Profit of $1.5B and 4 Hot Stocks Changing Hands
Citigroup, Inc. (NYSE:C): John Williams, who is president of the Federal Reserve Bank of San Francisco, stated that the “strong measures” taken by the Fed at its September meeting will more than likely cause better levels of growth in the U.S. economy, according to the Wall Street Journal. He also mentioned that the open-ended buying of mortgage bonds launched by the Fed last month will be adjusted as necessary.
The Goldman Sachs Group, Inc. (NYSE:GS) reported higher quarterly earnings than expected on Tuesday as revenue more than doubled on big gains in stocks and bonds that the Wall Street bank holds as investments. Goldman reported a Q3 profit totaling $1.5 billion, or $2.85 per share, versus the previous year’s loss of $428 million, or 84 cents per share. On average, analysts had expected earnings of $2.12 per share, reports Thomson Reuters I/B/E/S.
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Isis Pharmaceuticals, Inc. (NASDAQ:ISIS): In briefing documents before an advisory committee meeting on October 17, an FDA panel said, “Because of the potential risk of hepatotoxicity, mipomersen could not be approved without the necessary safeguards to restrict prescribing to certified prescribers who understand that mipomersen must be used only for treating patients in whom the benefit is thought to exceed this risk.” The documents show a proposed Risk Evaluation and Mitigation Strategy, or REMS, for the drug restricting prescribing to only certified prescribers and dispensing of mipomersen to only certified pharmacies. The panel stated, “The REMS proposed above would support appropriate use of mipomersen, allowing it to be approved for use in the targeted patient population, a patient population with life threatening illness and limited therapeutic options, while protecting the larger hypercholesterolemic patient population.” The drug is being developed by Genzyme, which is a unit of Sanofi (NYSE:SNY), together with with Isis Pharmaceuticals.
The Coca-Cola Company (NYSE:KO): Volume growth for the quarter was well-balanced worldwide, as there was growth in all geographic operating groups as well as growth spanning both developed markets and emerging markets. The Company reported solid growth in key developed markets, such as North America, Japan, and Europe, which reported growth across all business units in the quarter. Coca-Cola provided strong volume growth in key emerging markets like Thailand and India during the quarter. Global sparkling beverage volume saw a 3 percent increase during the quarter and year-to-date. Eurasia and Africa Group’s volume saw an 11 percent rise in the quarter and year-to-date. Europe Group’s volume saw 1 percent growth during the quarter, and Latin America Group’s volume grew 5 percent in the quarter and year-to-date. North America Group’s volume saw a 2 percent rise in the quarter and year-to-date.
Domino’s Pizza, Inc. (NYSE:DPZ) Q3 net income saw an 18 percent increase as sales improved in the U.S. and overseas. The pizza chain worked to expand its operations internationally, and it opened 121 stores abroad during the quarter. Additionally, it surpassed the 10,000 store count globally during the quarter.
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