Tuesday’s Biggest Moving Stocks – Goldman Sachs, CRM, GL, and More
Financial heavyweight firm Goldman Sachs (GS) brightened the market mood for the sector. GS stock traded above $410 after posting Q1/2024 results before closing at $400.88.
Goldman continued to demonstrate that it is recovering from its disastrous credit card project with Apple (AAPL). Revenue topped $14.2 billion, thanks to a decline in the provision for credit losses ($318 million), a lower headcount, strong global banking, and higher investment banking fees.
Salesforce (CRM), a software firm on the Dow Jones, is reportedly in advanced talks to buy Informatica (INFA). INFA shares lost 6.5% on Monday, while CRM stock declined by 7.28%. Informatica shareholders are unlikely to reject the deal, citing a low offering price. CRM shareholders will worry over the over $11 billion price tag paid.
Globe Life (GL) fell by 5.55% on Monday to $55.81. Still, shares are above the $38.85 low reached on April 11. The firm is defending itself against a short seller. It vowed to fully issue a rebuttal to those allocations. However, it did not say when it would publish the response nor did it offer any specifics.
Monday’s market weakness will push ProShares UltraPro Short QQQ 3x (SQQQ) on the most actively traded stock again today. Volume topped 199.39 million shares on Monday as SQQQ stock gained 5.05%.
