Confused about the new tax law? Join the crowd. The tax reforms are having wildly different impacts on different companies–and no company illustrates those discrepancies better than Wall Street titan Goldman Sachs.
Marquee names from Comcast to Verizon and Wells Fargo announced earnings windfalls from the landmark legislation, while such stalwarts as Johnson & Johnson, Citigroup, and JPMorgan Chase booked hefty charges. Nevertheless, most players that took big hits to fourth quarter earnings were buoyant, lauding the legislation as a giant positive that will substantially lift their profits in the years to come.