Goldman Sachs Group, Inc. (GS) released its first quarter earnings report on Monday, April 13. The investment firm’s stock fell by about 2%, even after reporting better-than-expected revenue and earnings.

Revenue came in at $17.23 billion during the first quarter, up 14% from revenue of $15.06 billion at this time last year. The results exceeded analysts’ expectations of $16.97 billion for the quarter.

“Goldman Sachs delivered very strong performance for our shareholders this quarter, even as market conditions became more volatile,” said Goldman Sachs CEO, David Solomon. “Our clients continue to depend on us for high quality execution and insights amid the broader uncertainty, and we remain confident in how we have positioned our businesses. The geopolitical landscape remains very complex – so disciplined risk management must remain core to how we operate.”

The company reported net income of $5.63 billion for the quarter or $17.55 per adjusted share. This was up from $4.74 billion or $14.12 per adjusted share reported in the same quarter last year.

Goldman Sachs’ Asset and Wealth Management segment generated revenue of $4.08 billion during the quarter, 10% higher compared to the same quarter last year. The company’s Global Banking and Markets segment revenue increased by 19% to $12.74 billion. Revenue for Platform Solutions reached $411 million for the first quarter. The company’s Board of Directors declared a quarterly cash dividend of $4.50 per common share payable on June 29, 2026, to stockholders of record on June 1, 2026.

Goldman Sachs Group, Inc. (GS) shares ended the week at $925.95, up 5.8% for the week.

Albertsons Releases Quarterly Report

Albertsons Companies, Inc. (ACI) reported its fourth quarter and full-year earnings report on Tuesday, April 14. The grocery company’s shares remained relatively unchanged following the release of the report.

The company reported net sales of $20.25 billion for the quarter. This is up from $18.80 billion reported at the same time last year but lower than analysts’ expectations of $20.49 billion. Full-year revenue returned at $83.17 billion, up from $80.39 billion reported last year.

"Across the full year, we remained focused on building a stronger foundation for the future, including investing in our customer value proposition, advancing digital and loyalty, and strengthening the capabilities that support sustainable, long-term growth,” said Albertsons’ CEO, Susan Morris. “As we enter fiscal 2026, we are building on this foundation by scaling our productivity engine and positioning the company to deliver earnings growth, strong cash flow, and long-term shareholder returns."

The company reported a net loss of $480.80 million or $0.94 per adjusted share. This is compared to the same quarter last year when Albertsons reported net income of $171.80 million or $0.29 per adjusted share. The company reported a net income of $217.40 million for fiscal 2025.

Albertsons experienced a 0.7% increase in identical sales, driven by strong growth in pharmacy sales. Digital sales increased by 16% and the number of loyalty members grew by 12% to 51.2 million members. Albertsons’ gross margin rate decreased to 27.2% compared to 27.4% during the fourth quarter of last year. For fiscal 2026, the company expects earnings per share to be between $2.22 and $2.32 and identical sales growth in the range of 0% to 1%.

Albertsons Companies, Inc. (ACI) shares ended the week at $16.70, down 1.2% for the week.

CarMax Rolls Out Earnings

CarMax, Inc. (KMX) released its fourth quarter and full-year earnings report on Tuesday, April 14. The automobile retailer’s stock plummeted 16% despite the company exceeding quarterly revenue estimates.

CarMax reported net sales of $5.95 billion during the quarter, down from $6.00 billion in net sales at this time last year and surpassed the expected quarterly revenue of $5.7 billion. For the full year, the company reported revenue of $25.88 billion, down from $26.35 billion reported one year ago.

“We are moving with urgency to improve execution, drive efficiencies, and sharpen our customer offering,” said CarMax CEO, Keith Barr. “We will make CarMax the obvious choice for customers through competitive pricing, access to a large selection of high-quality vehicles, and an exceptional end-to-end customer experience. Together with CarMax’s brand and culture, our national scale positions us well to regain momentum and deliver the growth and returns this business is capable of generating.”

The company reported a net loss of $120.68 million or $0.85 per adjusted share. This is compared to the same quarter last year when the company reported net income of $89.87 million or $0.58 per adjusted share. For the full year, the company reported a net income of $247.29 million.

CarMax sold 303,969 vehicles in the fourth quarter, an increase of 0.7% from the same time last year. CarMax’s wholesale vehicle sales rose by 3.0% to 122,781 vehicles. The company’s comparable store used unit sales decreased 1.9%. CarMax’s finance segment reported income declined by 9.8% for the quarter to reach $143.7 million. The company expanded to over 255 locations by adding a new site in Florence, Kentucky and one stand-alone reconditioning/auction center in Frederick, Maryland during the quarter.

CarMax, Inc. (KMX) shares ended the week at $40.88, down 13.5% for the week.

The Dow started the week of 4/13 at 47,718 and closed at 49,447 on 4/17. The S&P 500 started the week at 6,806 and closed at 7,126. The NASDAQ started the week at 22,849 and closed at 24,468.

U.S. Treasury yields dipped early in the week as investors reacted to the release of monthly producer prices which indicated a potential cooling of inflation. Yields moved lower later in the week as jobless claims remained low.

On Tuesday, the Bureau of Labor Statistics released March’s producer price index (PPI), which measures the average change over time in the prices of goods and services. The March PPI grew 0.5%, below economists’ estimates of 1.1%. Year-over-year, the increase in wholesale prices reached 4%, well above the Federal Reserve’s 2% target.

"Net, net, producers are still reporting above-normal price increases, which will put upward pressure on inflation the consumer is already seeing," said chief economist at FWDBONDS, Chris Rupkey. "The only good thing is that producer price inflation was perhaps not as bad as feared given March is the first full month since the Iran war began."

The benchmark 10-year Treasury note yield opened the week of April 13 at 4.34% and traded as high as 4.32% on Thursday. The 30-year Treasury bond opened the week at 4.92% and traded as high as 4.95% on Thursday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment decreased by 11,000 to 207,000 for the week ending April 11, lower than economists’ expectations of 215,000 claims. Continuing claims increased by 31,000 to 1.82 million.

"At some point, elevated energy costs and prices for materials will cause firms to lay off marginal workers to protect profit margins," said chief economist at High Frequency Economics, Carl Weinberg. "Just keep in mind that in the 1973 oil shock, it took about three months for claims to start to rise in any meaningful way."

The 10-year Treasury note yield finished the week of 4/13 at 4.25% while the 30-year Treasury note yield finished the week at 4.91%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, April 16. The survey showed mortgage rates decreasing for the second consecutive week.

This week, the 30-year fixed rate mortgage averaged 6.30%, down from last week’s average of 6.37%. Last year at this time, the 30-year fixed rate mortgage averaged 6.83%.

The 15-year fixed rate mortgage averaged 5.65% this week, down from last week’s 5.74%. During the same week last year, the 15-year fixed rate mortgage averaged 6.03%.

“Mortgage rates declined this week to a four-week low of 6.30%,” said chief economist at Freddie Mac, Sam Khater. “Compared to one year ago when rates were at 6.83%, this is a meaningful improvement for homebuyers during what is typically the busy spring homebuying season.”

Based on published national averages, the savings rate was 0.39% as of 3/16. The one-year CD averaged 1.52%.

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