tyb
PlaneFag Yerp and Med Activity
Swiss AF SUI037 Falcon 900 departed Berlin SW after about 5.5h on ground-it left Bern then stopped at Payerne AB and then NE to Berlin-its on ground at Payerne AB now
Swiss charge Gambia ex-minister with crimes against humanity
https://wtop.com/world/2023/04/swiss-charge-gambia-ex-minister-with-crimes-against-humanity/
German AF GAF880 A319 did a fly over at Keflavik AB, ICeland then SE
57-1483 KC-135 tanker SW from a run over Northern Norway and heading back to Spangdahlem AB
Belgian AF BAF644 A400m north to Trondheim from Brussels Int'l depart
Croatian AF ACRO9 CL-60 NW from Tirana, Albania after about 8h on ground
Italian AF PERSE71 G550 ISR over eastern Romania and western Black Sea
Goldman Slides After FICC Revenue 'Unexpectedly' Tumbles
Goldman stock is tumbling this morning when the lack of a proper Net Interest Income revenue stream and overreliance on trading has - for once - come back to bite it, as the company's all-important FICC division reported far uglier results than most had expected, leading to a big and very rare miss in Goldman's revenue line.
FICC= Fixed Income/Commodities/Currency
Here is what the bank reported in Q1:
*EPS $8.79, beating the estimate $8.21, and down 21% Y/Y
*Net revenue $12.22 billion, missing estimate $12.8 billion, and down 5% Y/Y
The drop was due to lower net revenues in Global Banking & Markets, partially offset by significantly higher net revenues in Asset & Wealth Management and Platform Solutions. Net interest income $1.78 billion, estimate $2.18 billion.
So Net Interest Income missed; how did non-interest income do? Here is the top-line detail:
*FICC sales & trading revenue $3.93 billion, badly missing the estimate $4.19 billion
*Global Banking & Markets net revenues $8.44 billion, missing estimate $8.79 billion
*Investment banking revenue $1.58 billion, beating estimate $1.54 billion
*Equities sales & trading revenue $3.02 billion, beating estimate $2.83 billion
*Advisory revenue $818 million, beating estimate $816.4 million
*Equity underwriting rev. $255 million, missing estimate $250.4 million
*Debt underwriting rev. $506 million, beating estimate $477 million
Goldman also offloaded a chunk of its $4 billion Marcus loan book, which led to a $440 million reserve release. That helped boost profit more than analysts expected, but earnings were still down 19% from a year earlier.
(Also remember that JP Moran increased it's Loan Loss Reserves-LLR- by 56% YoY on it's Qrtly release last Friday-whatever they don't use of that/those amounts can be applied back to the balance sheet as earned income)
Net revenue included a loss of approximately $470 million related to the partial sale of the portfolio and the transfer of the remainder to held-for-sale status. Unlike other banks which suffered credit losses, for Goldman the Q1 credit loss provision was for a net benefit of $171 million; a vast improvement to the consensus estimate of a $828 million loss. The gain reflected a reserve reduction related to a partial sale of the Marcus loans portfolio and the transfer of the remainder of the portfolio to held for sale, and was partially offset by net provisions related to the credit card and point-of-sale loan portfolios, reflecting net charge-offs and growth, and a provision related to a term deposit.
But while the confusion over the Marcus loan book sale was bad, the big miss in FICC was the gut punch: fixed-income trading revenue tumbled 17%, and badly missing expectations, leaving Goldman the only major Wall Street bank so far to have posted a drop for that business. Incidentally, the revenue figure for FICC for the same period last year was up more than 20%.
moar
https://www.zerohedge.com/markets/goldman-slides-after-ficc-revenue-unexpectedly-tumbles
>>18639077 pb
As a reminder Goldman took over the top spot in the OTC derivatives list for Q4 2022 and (pretty much always) haz teh least amount of stated assets backing the largest amount of OTC derivatives
Also FASB 56 makes most of these "reports" pretty irrelevant as they can be granted a waiver or exemption under that provision to make it up and they don't have to tell you who is granted said waiver or what it is actually for and even though Goldman is not a Federal Business (I'd argue it is that since the entire banking system was effectively nationalized in 2008 imo) it does a huge amount of business with it so this is relevant
Great source for financial information here too, she does an excellent job and has for a long time
FASAB Statement 56: Understanding New Government Financial Accounting Loopholes
https://home.solari.com/fasab-statement-56-understanding-new-government-financial-accounting-loopholes/
Southwest Airlines briefly grounds all flights nationwide due to ‘technical errors’
Southwest Airlines says that it briefly grounded flights nationwide due to “technical errors” as angry passengers blasted the company for delays on Tuesday — a repeat of the disastrous meltdown suffered by the carrier during the Christmas holiday.
“We have had to implement a ground stop as a result of intermittent issues that were experienced, and we should hopefully be resuming our operation as soon as possible,” a Southwest Airlines spokesperson tweeted on Tuesday in response to an angry customer who said they were “sitting in a plane waiting for computers to come back.”
“I apologize for any inconvenience this may cause, but we’ll be here for you if you need any assistance,” the company rep tweeted.
The Federal Aviation Administration gave Southwest the green light to resume flights a short time later on Tuesday morning — though planes heading into Dallas Love Field Airport were still grounded. According to the FlightAware flight tracking website, some 2,500 Southwest flights — which make up around 30% of its schedule — were experiencing delays as of Tuesday morning.
“@SouthwestAir requested that the FAA pause the airline’s departures due to an internal technical issue at Southwest,” the FAA tweeted.
“The pause has been fully canceled.”
https://nypost.com/2023/04/18/southwest-airlines-grounds-all-flights-due-to-technical-errors/
BUD hasn't dropped much because they announced a Dividend of .75$ last monday
please add
>>18714802 Southwest Airlines briefly grounds all flights nationwide due to ‘technical errors’-The pause has been fully canceled
to
>>18714751, >>18714776, >>18714794, >>18714805, >>18714825 SW Airlines grounds all planes US due to equipment issues
thank you
modern "education" at werk
Same boat as you older cars in great condition.
Just keep 'em running anon as they aren't gonna be able to pull that off with the grid in the condition it's in plus where he (and the others) gonna get all the Ag they need to produce them?
You also have solar panels (not just Solar City too) and his fake X shit that consumes it too…that whole thing is a pipe dream.
Already a huge deficit that will just keep getting worse
20585e (25)