Market News: Goldman Sachs, IBM and Toyota (NYSE:GS),(NYSE:IBM),(NYSE:TM)


Goldman Sachs Group Inc.'s bonds came under pressure on Monday, pushing yields up, as overseas investors reacted to the Securities and Exchange Commission's allegation on Friday that the firm committed fraud. The spread between yields on Goldman's 5.375% bonds maturing in 2020 and comparable Treasury debt widened by 24 basis points, according to Andrew Brenner, head of emerging markets at Guggenheim Securities. A larger gap indicates investors are less comfortable holding the debt. Goldman Sachs' bonds make up four of the top 10 most actively-traded corporate bonds today, Brenner said. – Marketwatch

Software could be the key battleground for IBM when it reports its first-quarter results after market close.  Investors will be closely monitoring the tech bellwether's numbers for further evidence of a tech recovery, with software playing a key role. Software accounts for 20% of IBM's sales, but can open the door to other revenue, according to Louis Miscioscia, an analyst at Collins Stewart. "The reason software is key is that it is a solution sale," he wrote in a note released last week. "It involves solving a customer's business need, and with the sale usually comes hardware and services, which drives up revenue and profits."  Despite beating Wall Street's estimates in its first quarter, IBM saw overall revenue dip 5% on a constant currency basis. IBM's software business returned to revenue growth, albeit at a modest 2%, but still slipped 4% when adjusted for currency. The company nonetheless posted its highest-ever software operating profit of 46.5%. - TheStreet

Toyota Motor Corp. has agreed to pay a record $16.4 million fine for allegedly failing to notify the Department of Transportation (DOT) of a "sticky pedal" defect in its cars for at least four months after learning of the problem. The fine was levied by the DOT's National Highway Traffic Safety Administration, the agency responsible for overseeing auto safety regulations. Even while agreeing to pay the fine, Toyota denied the government's allegations. – CNNMoney


WallStNation.comThanks for visiting, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)

Share Content

Share this article with others, is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary

Please Review the Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details