Prof G Markets: Disney’s Proxy War, Goldman’s Guidance Miss, and the Dating App Market

Earnings Miss

Goldman Sachs recently reported its largest earnings miss in a decade, with earnings per share at $3.32, falling short of the $5.48 expected by analysts. Scott Galloway attributes this miss to the company's overinvestment in Marcus and consumer banking programs, which aimed to leverage the Goldman brand in the evolving landscape of online banking and payments 1. Despite the setback, Scott remains optimistic about Goldman's future, noting the strength of its brand and predicting a quick recovery 2.

The Goldman brand is so incredibly strong that this is cyclical. I think they'll bounce back really quickly.

--- Scott Galloway

He even suggests that the stock is a buy, reflecting his confidence in the company's resilience.

   

Market Trends

The market is experiencing significant shifts, with the S&P 500 having its worst day in over a month and the dollar hitting a seven-month low. Scott Galloway highlights the importance of understanding the broader context behind headlines, such as Microsoft's layoffs, which are offset by their substantial hiring over the past year 3. He also predicts that Disney will eventually allow Nelson Peltz on their board due to shareholder pressure, and foresees China implementing economic incentives to address its population decline 4.

Disney is going to let Nelson Peltz on their board. It just makes too much sense.

--- Scott Galloway

These predictions underscore the dynamic nature of global markets and the strategic decisions companies must make in response.