Goldman Sachs: Buy these 27 stocks that will beat earnings estimates by at least 10% in a year when many companies will see their profits shrink
Earnings forecasts will continue to come down in 2023, according to Goldman Sachs.Here are 27 stocks that Goldman Sachs expects to beat earnings estimates by at least 10%.
And while the rest of the market sees earnings rising 3% in 2023, Goldman Sachs believes that last year's downbeat earnings momentum will persist. The firm's base case isthis year as the US avoids a recession, though earnings could shrink by 11% if the economy contracts. Goldman's glass-half-empty view on earnings stems from its conviction that profit margins will come under pressure as consumer demand weakens and taxes from the Inflation Reduction Act are implemented. Softer consumer spending could lead companies to cut prices in order to boost sales, Kostin wrote, adding that the new taxes on share buybacks and corporate book income will shave about 2% to 3% off of S&P 500 earnings.
However, Kostin wrote that some of his firm's clients think companies are purposefully being pessimistic about Q4 and their 2023 outlooks in an attempt to underpromise and overdeliver. The three-month trend of earnings revisions is the most negative since 2008 and 2020, Kostin noted, adding that firms have preannounced earnings at the highest rate since early 2020.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Goldman Sachs no longer expects recession in euro zone in 2023Goldman Sachs said on Tuesday it expects the euro zone economy to grow by 0.6% this year, compared with its previous forecast of a contraction, thanks to a fall in natural gas prices and the reopening of China's borders.
Leer más »
STOCK MARKET NEWS: Inflation data, bank earnings on tap, NYC nurses strike, Goldman Sachs layoffsStocks kickoff the week higher with inflation data and bank earnings due, New York City faces nurses strike, Goldman Sachs set to begin layoffs. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Leer más »
STOCK MARKET NEWS: Inflation data, bank earnings on tap, NYC nurses strike, Goldman Sachs layoffsStocks turned mixed as the trading week kicked off, higher with inflation data and bank earnings due, New York City faces nurses strike, Goldman Sachs set to begin layoffs. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Leer más »
Goldman Sachs to lay off as many as 3,200 employees this weekGoldman Sachs plans to lay off more than 3,000 employees this week, a source familiar with the matter said. However, the firm will still continue to strategically hire.
Leer más »
Goldman Sachs bankers have nickname for layoff bloodbath planned by CEOWord of the layoffs by hard-charging Chief Executive David Solomon spread at the Wall Street giant’s headquarters in downtown Manhattan on Friday, sources said.
Leer más »
Goldman Sachs readies biggest layoffs since the financial crisisGoldman Sachs Group will start cutting thousands of jobs across the firm from Wednesday, two sources familiar with the move said, as it prepares for a tough economic environment.
Leer más »