Followers | 690 |
Posts | 144222 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Wednesday, November 18, 2020 10:57:10 AM
By: Schaeffer's Investment Research | November 18, 2020
• Goldman Sachs already cut 400 jobs in September
• The security is eyeing its highest close in roughly eight months
Financial name Goldman Sachs Group Inc (NYSE:GS) is climbing higher this morning, last seen up 1% at $226.90, following news the company would lay off an undisclosed number of workers in an effort to reduce operating expenses by $1.3 million over the next three years. This marks Goldman Sachs' second round of layoffs this year, though the company does not expect this round to exceed the 400 positions cut in September.
Earlier this month, the security just enjoyed an impressive bull gap above recent pressure at its 120-day moving average, thanks to an upbeat vaccine update from Pfizer (PFE) that gave bank stocks a boost. Now, GS is eyeing its highest close in roughly eight months -- poised to topple the $225 level for the first time since early February.
Analysts are mostly bullish on the security. Of the 14 in coverage, 10 call it a "strong buy." Plus, the 12-month consensus price target of $255.58 is a 12.6% premium to current levels.
Meanwhile, calls are outnumbering puts on an overall basis, though there's been an uptick in bearish options activity of late. This is per Goldman Sachs' 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 92% of readings from the past year.
Now looks like an ideal time to get in on Goldman Sachs stock's next move with options, though. The equity's Schaeffer's Volatility Index (SVI) of 27% ranks in the 8th percentile of its 12-month range, meaning options traders are pricing in relatively low volatility expectations at the moment.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent GS News
- Traders May Take A Breather Following Recent Strength On Wall Street • IH Market News • 10/15/2024 01:07:48 PM
- U.S. Index Futures Mixed; Oil Prices Fall as Israel Eases Supply Fears and China Stimulus Uncertainty Grows • IH Market News • 10/15/2024 09:49:01 AM
- China Stimulus and Elections Drive Bitcoin Surge; Avalanche Executes AVAX Buyback; $500M in Token Unlocks This Week • IH Market News • 10/14/2024 07:17:45 PM
- Interest Rate Optimism May Lead To Continued Strength On Wall Street • IH Market News • 10/14/2024 01:08:31 PM
- Honeywell Seeks Division Spinoff; Foxconn Expands Production With Nvidia GB200; Chinese Stocks Plunge • IH Market News • 10/08/2024 10:39:39 AM
- BrightNight Closes $440 Million Strategic Investment from Goldman Sachs Alternatives, Upsizes Corporate Credit Facility to $400 Million • PR Newswire (US) • 10/07/2024 12:58:00 PM
- Starboard Acquires $1 Billion Stake in Pfizer; Rio Tinto Pursues Acquisition of Arcadium Lithium, and More • IH Market News • 10/07/2024 09:49:44 AM
- Intel Secures $3.5 Billion Subsidy, Stellantis Backs EU Emissions Targets, BP and Apollo Reach $1 Billion Deal • IH Market News • 09/16/2024 10:03:27 AM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Norfolk Southern CEO Fired, Ryanair Lowers Fare Forecast, 23andMe Considers Acquisition Proposals • IH Market News • 09/12/2024 10:02:29 AM
- GameStop plunges 11% on stock offering, DJT drops post-debate, GSK fails shingles vaccine trial • IH Market News • 09/11/2024 10:25:41 AM
- Goldman Sachs Custody Solutions and NewEdge Capital Group Announce Strategic Collaboration to Provide Enhanced Services to RIAs • GlobeNewswire Inc. • 09/10/2024 01:00:00 PM
- Apple Loses EU Dispute; Google’s $2.7 Billion Fine Upheld; Oracle Shares Surge 9% • IH Market News • 09/10/2024 10:02:31 AM
- Dell, Palantir, and Erie Will Be Added to the S&P 500; Boeing Avoids Strike; Apple Event Takes Place Today • IH Market News • 09/09/2024 10:05:35 AM
- Broadcom Down 10% Post-Earnings, UiPath Up 8%; Qualcomm Eyes Intel Assets; Salesforce Acquires Own Company • IH Market News • 09/06/2024 11:59:00 AM
- Qualcomm Develops Mixed Reality Glasses; Verizon to Boost Dividend, Eyes Acquisition; Samsonite Plans US Dual Listing • IH Market News • 09/05/2024 10:11:35 AM
- Nvidia Subpoenaed by DOJ, Athira Pharma Shares Plunge 71% After Study Fails, Zscaler Falls 15% Post-Earnings • IH Market News • 09/04/2024 09:50:25 AM
- Apple Names New CFO, Sony Hikes PS5 Price in Japan, Santander Launches Share Buyback • IH Market News • 08/27/2024 09:35:22 AM
- Berkshire Reduces Stake in BofA, Hawaiian Airlines Soars 10%, Paramount Receives $4.3B Offer, and More • IH Market News • 08/20/2024 09:56:02 AM
- FuboTV Soars 12% After Venu Sports Block, Goldman Sachs Lowers U.S. Recession Odds, BHP Ends Chile Strike • IH Market News • 08/19/2024 09:28:19 AM
- Bitcoin Fall Hits Other Tokens, MicroStrategy Launches Leveraged ETF, Mintzberg Takes Over Grayscale Leadership • IH Market News • 08/15/2024 07:35:02 PM
- Google Forced to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova • IH Market News • 08/15/2024 10:05:46 AM
- Google Mandated to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova • IH Market News • 08/15/2024 10:05:46 AM
- AI Energy Use Overtakes Bitcoin, BTC Price Falls, Goldman Sachs Puts $418M in Bitcoin ETFs, and Latest in Crypto • IH Market News • 08/14/2024 07:26:36 PM
- Dell Stock Slide Offers Opportunities; Trump and Musk hold talks on X; GM Restructures China Operations, and More • IH Market News • 08/13/2024 09:43:49 AM
FEATURED ZenaTech, Inc. (NASDAQ: ZENA) First US Trial of IQ Nano Drone for Inventory Management • Oct 15, 2024 8:21 AM
Kona Gold Beverages, Inc. Announces Strategic Progress and Corporate Evolution • KGKG • Oct 15, 2024 9:00 AM
One World Products Secures First Order for Hemp-Based Reusable Containers, Pioneers Renewable Materials for the Automotive Industry • OWPC • Oct 15, 2024 8:35 AM
CBD Life Sciences, Inc. Announces Strategic MOU with U.S. Armed Forces for Groundbreaking Mushroom Supplement • CBDL • Oct 15, 2024 8:00 AM
HealthLynked Files Non-Provisional Patent for AI-Powered Healthcare Assistant, ARi • HLYK • Oct 15, 2024 8:00 AM
ZenaTech, Inc. (NASDAQ: ZENA) Launchs IQ Nano Drone for Commercial Indoor Use • HALO • Oct 10, 2024 8:09 AM