Bloomberg Goldman Sachs strategists raised their profit estimates for S&P 500 after a record number of companies beat analyst expectations. Strategists at the bank led by David Kostin lifted their 2020 EPS estimates to $130 from $115, expecting an overall 21% profit contraction versus last year’s levels. The second-quarter results also re-affirmed the team’s confidence in their 2021 EPS estimate …

Bloomberg US equity futures advanced and stocks edged higher in Europe as bank shares rallied and bond yields climbed globally. Gold rebounded after finding support below $1,900 an ounce. Advances in ABN Amro Bank NV and HSBC Holdings Plc offset drops in tech and real estate shares on the Stoxx Europe 600 Index. The pound held Tuesday’s drop versus the …

Bloomberg Tesla Inc. is splitting its elevated shares in a 5-for-1 exchange, a move timed to make the stock less expensive for individual investors after the company become the world’s most valuable automaker. Its shares surged on the news in aftermarket trading. Each shareholder of record on August 21 will receive a dividend of four additional shares of common stock …