Goldman Sachs secured contracts to manage $70 billion in retirement assets for Verizon Communications and Lockheed Martin, including $30 billion in pension assets and $40 billion in defined-contribution plans like 401(k)s. This reflects a trend where major U.S. employers outsource retirement asset management to specialized firms due to growing portfolio complexity. Goldman aims to grow its stable, recurring fee revenue from these long-term mandates, contrasting with more volatile trading and investment banking income. The firm's outsourced chief investment officer business manages about $480 billion, within a broader asset and wealth management portfolio of $3.7 trillion.
Concerns over insider trading risks linked to prediction markets are prompting companies like Goldman Sachs and Morgan Stanley to update or create policies restricting employee trades on these platforms. The Commodity Futures Trading Commission is ex...
More than a dozen Wall Street analysts initiated coverage of SpaceX stock on July 7, 2027, with price targets ranging from $190 to $800. The average 12-month price target from 26 analysts is $216.48, indicating an expected rally of nearly 35% from it...
President Trump praised Michael and Susan Dell during the launch of Trump Accounts, a new savings initiative for children backed by the Dells' $6 billion pledge. Following Trump's endorsement, Dell's stock surged up to 7.8% in intraday trading. The p...
