Word: goldmans
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Dates: during 2000-2009
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...Recently The Wall Street Journal reported that "Goldman Sachs estimates that China's economy grew 2.6% in the October-December period from the July-September quarter. The OECD puts the quarter-on-quarter growth for the same period at 0.3%." The numbers are telling in two ways. The first is that estimates of economic activity on the mainland are imprecise. The second is that China's growth rate may have already have slowed considerably...
...foreign reserves. The banking system has remained well regulated, and so far seems to have been less exposed to the toxic assets that have wrecked many U.S. and European banks. All this has "buffered Brazil quite a bit against the global downturn," says Paulo Leme, emerging-markets director at Goldman Sachs...
...grip of recession. Earnings at energy companies, for example, are expected to plunge 50%. Technology companies could see their incomes drop by a third. Consumer staples - companies like Procter & Gamble that produce toothpaste and toilet paper - could be one of the few sectors to escape the economic downturn. Goldman expects earnings for those companies to be flat in 2009 compared with last year, before rising...
...sure, financial firms are no model of health. Goldman expects the financial stocks in the S&P 500 to lose a collective $9 a share. By comparison, health-care companies are expected to earn $11 a share this year. In fact, the losses are so big at some of the financial firms that many market watchers are concerned that some of the largest banks will go bankrupt unless they get significantly more government assistance. Indeed, the government last week released a plan to help boost Citigroup's common equity by $50 billion. It is the third round of financial help...
Late last week, Goldman Sachs cut its earnings expectations for the stocks in the Standard & Poor's 500. Collectively, Goldman thinks, those companies will earn $40 a share this year, down from $49 a share in 2008. That's a drop of 18%. Not great. But take out financial stocks, and the picture gets worse. Excluding banks, insurers and the like, Goldman is predicting an earnings plunge of 25% in '09. (See pictures of the stock-market crash...