Latest News for CBS, Sprint and Morgan Stanley vs. Goldman Sachs
Some of the latest news includes CBS Corporation (NYSE:CBS) looking bullish, Sprint Nextel Corporation’s (NYSE:S) 4G Exec to leave, Goldman Sachs Group, Inc. (NYSE:GS) pays nearly double tax hit of Morgan Stanley (NYSE:MS).
CBS (NYSE:CBS): Double Digit Top-Line Growth Ain’t So Bad - Earnings: Q2 profits of $.22 vs. $.21 consensus and a gain of $.02 in Q2 last year, a big rise in profits Year-over Year. Revenue: Increased 11% Year-over-Year at $3.3 Billion. When looking out to the second half of 2010, CBS CEO Les Moonves said, “all signs point to ongoing growth and profitability.” He expects political advertising to continue to pick up and give a boost to the recovery ad sales segment for CBS. Moonves also added, “With top-line gains in all of our businesses, and a continued vigilance on cost containment, revenues are translating more efficiently into profits. Meanwhile, our content is thriving: The network finished another television season in first place, which helped us sell next year’s schedule in a very strong upfront marketplace at attractive rates.” – Seekign Alpha
Wireless carrier Sprint Nextel Inc. (NYSE:S) said Thursday that one of its top product development veterans is leaving the company. Kevin Packingham, senior vice president of product and technology development, has been with Sprint since 1999. His last day will be Aug. 16, according to spokeswoman Jennifer Walsh Kiefer. Packingham, 39, is leaving to become CEO of another venture based in Kansas City, Mo. The spokeswoman declined to give further details. - AP
Britain's one-time bank tax hit Goldman Sachs (NYSE:GS) harder than its Wall Street rivals, a review of recent filings with the Securities and Exchange Commission reveals. Goldman revealed that it has set aside $600 million to pay the 50% tax on banker bonuses the UK put in place in December. By contrast, Morgan Stanley (NYSE:MS) said it expects to pay only $361 million. - CNBC