real-time news and commentary for investors
Friday, Sep 27
Guggenheim cuts BofA and Goldman
- Apparent nervousness about bank earnings has Guggenheim removing its Buy ratings on both Bank of America (BAC) and Goldman Sachs (GS).
- Bank managements (though not necessarily Goldman and BofA) have made no secret this month in presentations, leaks, and interviews that mortgage banking and trading revenue stunk this quarter.
- Both stocks are off about 0.5% in premarket action.