Goldman Sachs's most recent trend suggests a bullish bias. One trading opportunity on Goldman Sachs is a Bull Put Spread using a strike $205.00 short put and a strike $200.00 long put offers a potential 26.58% return on risk over the next 22 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $205.00 by expiration. The full premium credit of $1.05 would be kept by the premium seller. The risk of $3.95 would be incurred if the stock dropped below the $200.00 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Goldman Sachs is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Goldman Sachs is bullish.
The RSI indicator is at 74.47 level which suggests that the stock is neither overbought nor oversold at this time.
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LATEST NEWS for Goldman Sachs
Oil Falls Amid Swelling Stockpiles, Russia Caution on Supply Cut
Wed, 23 Oct 2019 09:54:18 +0000
(Bloomberg) — Oil fell as Russia sounded a cautious note on whether OPEC and its partners may cut production further, while industry data showed U.S. crude inventories were expanding.Futures fell as much as 1.3% in New York, erasing some of Tuesday’s gains as Russia’s Energy Minister Alexander Novak said no countries in the OPEC+ coalition had proposed changing the current level of output cuts. The American Petroleum Institute reported crude stockpiles rose by 4.45 million barrels last week, according to people familiar with the data. Official government figures are due Wednesday.Oil has slumped about 18% from an April peak as the U.S.-China trade war dented demand and as global supplies swelled. Earlier this month, the Organization of Petroleum Exporting Countries’s Secretary-General Mohammad Barkindo said the group would do “whatever it takes” to prevent another oil slump.“We still see a supply tsunami next year” from the U.S. and elsewhere, said Bob McNally, president of Rapidan Energy Group. “If OPEC did nothing, global inventories would rise.”West Texas Intermediate crude for December delivery dropped 56 cents to $53.92 a barrel on the New York Mercantile Exchange as of 10:52 a.m. in London. The November contract expired Tuesday after adding 85 cents to close at $54.16, buoyed by a report that reiterated OPEC’s plans to consider extra output curbs.Brent for December settlement fell 54 cents to $59.16 on the London-based ICE Futures Europe Exchange. The contract gained 74 cents to $59.70 on Tuesday. The global benchmark crude traded at a $5.25 premium to WTI.See also: Saudi Aramco Pushing to Complete IPO This Year After DelayU.S. crude stockpiles probably rose by 3 million barrels last week, according to the median estimate in a Bloomberg survey before data from the Energy Information Administration. Gasoline inventories are forecast to drop by 2.2 million barrels.Brent crude is likely to trade around $60 a barrel in 2020 even as OPEC+ production holds around its fourth quarter level, according to Goldman Sachs Group Inc. The bank cut its global oil demand growth forecast for next year to 1.25 million barrels a day, from 1.45 million.\–With assistance from James Thornhill.To contact the reporters on this story: Saket Sundria in Singapore at email@example.com;Grant Smith in London at firstname.lastname@example.orgTo contact the editors responsible for this story: James Herron at email@example.com, Christopher SellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
RPT-UPDATE 1-Aramco listing was delayed to rope in anchor investors -sources
Wed, 23 Oct 2019 07:49:49 +0000
DUBAI/RIYADH, Oct 22 (Reuters) – Oil giant Saudi Aramco's much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the matter told Reuters. After a false start last year, preparations gathered momentum this summer with approaches to sovereign wealth funds, rich Saudis and large foreign fund managers as potential cornerstone investors only for plans to unravel for a second time. The world's biggest oil company had been expected last week to launch the domestic sale of a 1-2% stake, but the signing up of marquee backers has been hampered by continuing valuation concerns exacerbated by recent attacks on Aramco's Abqaiq and Khurais plants.
Malaysia Privately Discusses Goldman Penalty of Just $2 Billion Over 1MDB
Wed, 23 Oct 2019 05:42:02 +0000
(Bloomberg) — Again and again, Malaysia has publicly demanded Goldman Sachs pay an eye-popping $7.5 billion for its role in the 1MDB scandal. But privately, Malaysian negotiators are considering settling for a fraction of that.Representatives for Malaysia have discussed figures of around $2 billion to $3 billion in talks with the Wall Street bank, according to people with knowledge of the matter. Though a final deal may diverge from that range, it shows what negotiators for the country may be willing to accept. Simultaneously, Malaysian prosecutors are trying to turn up the pressure by pushing for Goldman’s criminal case to be heard at the country’s High Court.Prime Minister Mahathir Mohamad, 94, is keen to reach an accord before year-end to show progress on his signature pledge to recoup money plundered from the scandal-ridden state investment fund. He’s dispatched Daim Zainuddin, a confidant outside his cabinet, to serve as a top dealmaker, the people said, asking not to be named because talks are confidential. A sizable settlement would help cement the country’s fiscal footing, which Mahathir has cited as a reason he’s delayed handing over power to his former protege, Anwar Ibrahim.Yet, for Goldman Sachs Group Inc., Malaysia’s probe is among a slew of related international investigations the company is eager to solve in their entirety, and it’s unclear how much credit regulators and prosecutors back in the U.S. may give the firm for a costly deal with the Southeast Asian nation.‘Reparation Payments’Goldman reaped $600 million from helping 1MDB raise $6.5 billion in 2012 and 2013, much of which later went missing. Malaysia has demanded the bank shoulder those losses. Earlier this month, Finance Minister Lim Guan Eng reiterated in an interview that means “reparation payments” amounting to $7.5 billion.It’s also unclear whether a multibillion-dollar settlement might lead Malaysia Attorney General Tommy Thomas to drop all charges against Goldman Sachs, or 17 current and former bank executives individually charged, the people said. The allegations against the directors are based on the criminal case against the bank’s units.Representatives for Goldman Sachs and the U.S. Department of Justice declined to comment. Representatives for Malaysia’s attorney general and for Daim’s office had no immediate comment. Goldman has previously blamed its entanglement in the scandal on its former Southeast Asia chairman, Tim Leissner, who pleaded guilty in 2018 to U.S. charges he conspired to launder money and violate the Foreign Corrupt Practices Act.U.S. prosecutors are expected to extract a serious penalty from the bank for its role in funding 1MDB. Last year, they undermined the firm’s effort to focus blame on one person by also charging another banker, Roger Ng, who’s denied any complicity in wrongdoing. The Justice Department previously stunned the Malaysian government in 2016 by filing a forfeiture case that implicated then-Prime Minister Najib Razak.Mahathir, who was prime minister from 1981 to 2003, returned to power in 2018 while promising to recoup money allegedly stolen from the state investment fund. Najib is now fighting dozens of criminal charges related to 1MDB.Malaysia has been forced to cancel major projects and find other ways to cut government spending, after having to shoulder 51 billion ringgit ($12 billion) of 1MDB’s debt obligations.Daim is a longtime confidant of Mahathir, hailing from the same village in the northern Malaysian state of Kedah. He was finance minister from 1984 to 1991, and was brought back by Mahathir to help steer the economy in the aftermath of the Asian financial crisis in 1999 to 2001. When Mahathir returned to power last year, he appointed Daim as his top adviser to guide the new government’s economic policy in the first 100 days.Read a QuickTake on how the 1MDB scandal shook the financial worldProsecutors in Kuala Lumpur said Tuesday they have submitted an application to move their criminal case against Goldman to the High Court, a request typically made to underscore the seriousness of the case.Thomas has said he has a strong case against Goldman and isn’t dropping the charges against the units or the 17 people, responding to a report in Nikkei Asian Review that cited him as saying Goldman has been in settlement talks with Malaysia. “We’ll see them in court,” he said on Oct. 17.(Updates with Malaysia’s budget cuts in 10th paragraph)To contact the reporters on this story: Hugo Miller in Geneva at firstname.lastname@example.org;Elffie Chew in Kuala Lumpur at email@example.com;Sridhar Natarajan in New York at firstname.lastname@example.org;Anisah Shukry in Kuala Lumpur at email@example.comTo contact the editors responsible for this story: Anthony Aarons at firstname.lastname@example.org, ;Michael J. Moore at email@example.com, ;Fion Li at firstname.lastname@example.org, ;Yudith Ho at email@example.com, David Scheer, Marcus WrightFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Malaysia Said to Privately Discuss $2B-$3B Goldman Penalty Over 1MDB
Wed, 23 Oct 2019 04:04:12 +0000
Oct.22 — Malaysia is privately discussing a penalty for Goldman Sachs of as little as $2B over the bank’s role in the 1MDB scandal. That’s despite previously demanding Goldman repay $7.5B. Bloomberg’s Anisah Shukry reports on “Bloomberg Markets: China Open.”
Malaysia, Goldman discuss smaller penalty over 1MDB scandal-Bloomberg
Wed, 23 Oct 2019 03:39:44 +0000
Malaysia has discussed a $2 billion to $3 billion settlement with Goldman Sachs over the U.S. bank's alleged role in the 1MDB scandal, Bloomberg reported on Wednesday, less than half the sum the Southeast Asian nation had demanded earlier. Investigators in Malaysia and the United States say about $4.5 billion was misappropriated from the now-defunct state investment fund 1Malaysia Development Berhad, set up in 2009 by former Prime Minister Najib Razak who has been slapped with several charges. Last year, Malaysia filed criminal charges against Goldman over its role as underwriter and arranger of three bond sales that raised $6.5 billion for 1MDB.
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