FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: New York Knicks' NBA Championship Win Boosts Goldman Sachs' Wealth-Management Business

By

Goldman Sachs' (GS) wealth management business, which has some New York Knicks players as clients, is getting a boost to its operations after the basketball team won the NBA championship in June, Bloomberg reported Friday, citing people familiar with the matter.

The players were together awarded more than $9 million from the event, with star players getting even more from sponsorship deals, the report said.

The company's athlete clients, who have a long-term investment horizon, are more comfortable with private investments, a person familiar with the unit told the media outlet.

Goldman Sachs did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $1031.78, Change: $-6.15, Percent Change: -0.59%

Related Articles

Wire

Vaxcyte Names New Medical and Legal Chiefs Ahead of Key Phase 3 Data

Vaxcyte (PCVX) appointed Luis Jodar as chief medical officer and David McAvoy as chief legal officer, the company said on Thursday.Jodar spent 17 years at Pfizer (PFE), most recently as senior vice president and chief medical officer for Vaccines and Infectious Diseases, the company said.McAvoy joins the company from Teva Pharmaceutical (TEVA), according to a statement.The vaccine developer also said it now expects to report topline data from its phase 3 OPUS-1 trial of VAX-31 in adults by the end of October, narrowing its previous guidance of a Q4 data release.

$PCVX
Wire

eGain Fiscal Q4 Adjusted Earnings, Revenue Fall; Shares Slump After Hours

EGain (EGAN) reported fiscal Q4 adjusted earnings late Thursday of $0.08 per diluted share, down from $0.09 a year earlier.Three analysts polled by FactSet projected $0.03.Revenue in the three months ended June 30 fell to $22.2 million from $23.2 million a year earlier.Three analysts projected $21.7 million.The company expects fiscal Q1 adjusted EPS of $0.05 to $0.08 on revenue of $20.9 million to $21.4 million. Three analysts project EPS of $0.08 on revenue of $22.3 million.For fiscal 2027, eGain expects adjusted EPS of $0.04 to $0.07 on revenue of $84.5 million to $86 million. Three analysts project EPS of $0.43 on revenue of $94.1 million.EGain shares slumped 29% in after-hours trading.

$EGAN
Wire

American Outdoor Brands Fiscal Q1 Swings to Adjusted Earnings, Revenue Rises

American Outdoor Brands (AOUT) reported fiscal Q1 non-GAAP earnings late Thursday of $0.03 per diluted share, swinging from a loss $0.26 year earlier.Two analysts polled by FactSet expected a loss of $0.24.Net sales for the quarter ended July 31 were $37.3 million, up from $29.7 million a year earlier.Two analysts expected $35.6 million.For fiscal 2027, the company maintained its net sales forecast of $200 million to $210 million. Two analysts expect $205.1 million.Shares of the company rose over 16% in after-hours trading.

$AOUT