Shares of Goldman Sachs (GS) were rising premarket Tuesday after the investment bank reported a quarterly profit of $2.09 billion or $4.88 per share, well ahead of the $1.53 billion, or $2.90 per share profit the company reported in the year-ago period. Revenue for the period jumped to $8.17 billion from $6.86 billion a year ago. Those results were ahead of Wall Street's $3.82 per share and $7.42 billion top- and bottom-line expectations for the period.
Netflix (NFLX) shares continued their rally from after-hours trading Monday, rising another 20% before the market opened following the release of the streaming media company's latest quarterly results. Netflix has been under pressure for months as investors turned skeptical that the company could meet Wall Street subscriber growth expectations. However, it blew those expectations out of the water, adding 3.57 million subscribers globally vs. expectations of 2.01 million subscribers added. In the U.S. alone, Netflix added 370,000 subscribers vs. Wall Street's 309,000 subscribers estimates.
Shares of Visa V were falling Tuesday morning following the unexpected departure of the credit card company's CEO since 2012, Charles Scharf. Scharf will be succeeded by former American Express (AXP) president and current Visa board member Alfred Kelly when he officially steps down on Dec. 1. The shakeup comes just months after Scharf closed a deal to reunite Visa's U.S. operations with the previously spun off Visa Europe operations.
Finally, Dick's Sporting Goods (DKS) is reportedly preparing to bid for bankrupt retailer Golfsmith's U.S. stores, according to Reuters. Golfsmith filed for bankruptcy in the U.S. and Canada last month. Dick's bid for the stores counters a reported bid from rival golfing retailer Worldwide Golf Shops. The winning bid will be picked following an auction scheduled for Wednesday. While Golfsmith operated over 100 stores when it filed for bankruptcy about a month ago, it has been closing stores ever since and currently has 85 open in 19 states.
