GS Jun 2024 455.000 call
- Reuters
Goldman Sachs raises S&P 500 year-end target to 5,600
Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms have collectively surged by 45% and now comprise 25% of the S&P 500 equity cap, the brokerage said in a note after markets closed on Friday. The upgraded target reflects an upside of about 3.1% to the index's last close of 5,431.60. The brokerage expects roughly unchanged real yields by the year-end and strong earnings growth to support a 15x P/E for the equal-weight S&P 500 Index.
- Associated Press Finance
Google CEO testifies at trial of collapsed startup Ozy Media and founder Carlos Watson
Google CEO Sundar Pichai testified briefly Friday at the federal financial conspiracy trial surrounding buzz-to-bust startup Ozy Media, countering founder Carlos Watson's alleged claims that the search giant once sought to buy Ozy. Google did consider hiring Watson for a high-level news executive job in 2021 and putting $25 million into Ozy in something of a tradeoff for luring him away, Pichai told jurors. “Mr. Watson was a critical part of Ozy Media, and we were considering making an investment in the company to make the transition easier," he explained.
- Bloomberg
US Returns $156 Million Misappropriated 1MDB Funds to Malaysia
(Bloomberg) -- The US Justice Department said it returned an additional $156 million in misappropriated 1MDB funds to Malaysia, a month after the Southeast Asian nation sought extra compensation from US authorities.Most Read from BloombergWells Fargo Fires Over a Dozen for ‘Simulation of Keyboard Activity’Tesla Investors Get Behind Musk’s Fight for $56 Billion Pay DealApple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not CashJudge Likely to Reject $30 Billion Visa, Mastercard Fee DealHunte
