Goldman Sachs tops peers in third-quarter share sale revenue
In short
Goldman Sachs Group Inc. led its four biggest U.S. rivals in third-quarter revenue from share sales. The summary said only Morgan Stanley had lower fees than a year earlier, but it gave no figures.
This matters because it points to who is winning equity underwriting business. The exact fee amounts and the full market picture are not stated in the available reporting.
What the reporting says
Goldman Sachs Group Inc. topped its four biggest U.S. equity underwriting rivals in the third quarter, according to a publisher-supplied summary. The report said only Morgan Stanley posted a decline in fees versus last year, but it did not give the fee figures or the comparison period details. The immediate implication is a relative lead in share-sale business, while the underlying numbers are not stated.
Why it matters
Goldman Sachs Group Inc. came out ahead of its four biggest U.S. equity underwriting rivals in the third quarter, based on a publisher-supplied summary. The report also said Morgan Stanley was the only one of the group with lower fees than a year earlier. No fee figures, date details, or deal counts were provided, so the size of Goldman Sachs’ lead is not stated.