Goldman Sachs Group Inc.
As the U.S. economy roars back to life, Wall Street is reaping the gains. Some of the biggest banks including Goldman Sachs and JPMorgan Chase & Co. reported significant increases in second-quarter profits on the back of corporate America’s spring rebound. While bank executives say the recovery remains vulnerable, the firms’ results show consumer spending returning to pre-pandemic levels, borrowing poised to rise, and surges in deal-making fees. Goldman Sachs shares lost 1.2% Tuesday.
General Motors Co.
GM is revving up plans to increase its workforce. The auto maker aims to expand its offices in Southern California with the opening of a new $71 million tech campus next year. GM said Tuesday that the new campus, which will replace its existing design center in North Hollywood, would allow it to add workers in the area and help it expand business ventures related to electric and self-driving cars. It will be located on an 8-acre site in Pasadena, closer to many universities and design schools that are prime recruiting grounds for its operations, the company said. The move reinforces GM’s need for additional physical space at a time that many companies are shifting more permanently to remote work. GM shares fell 0.4% Tuesday.
Goldman Sachs, Twitter, Johnson & Johnson: Stocks That Defined the Week Source link Goldman Sachs, Twitter, Johnson & Johnson: Stocks That Defined the Week