Goldman Sachs (GS) can't manage a gain despite positive headline numbers on earnings, with...


Goldman Sachs (GS) can't manage a gain despite positive headline numbers on earnings, with Antoine Gara calling the beat a low-quality one attributable to $1.42B in revenue posted from rising marks on the bank's P-E investments and securities portfolio. This likely isn't sustainable as regulators work to constrain Goldman's activities in these areas. While debt underwriting posted a record number, equity underwriting saw a 5% decline in Q2. Flat revenue at GSAM asset management suggests competitors like Wells Fargo and Morgan Stanley are taking market share. Asked on the CC about his comfort with current leverage, CFO Schwartz responds, "Comfortable, I am not trying to get cute with you."
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Comments (5)
  • al roman
    , contributor
    Comments (16949) | Send Message
     
    The Nu call ?
    16 Jul 2013, 10:20 AM Reply Like
  • SoCalNative+(RIP)
    , contributor
    Comments (651) | Send Message
     
    Low quality beat? Is that like low quality improving jobs numbers?
    16 Jul 2013, 11:28 AM Reply Like
  • Nate Sterling
    , contributor
    Comments (615) | Send Message
     
    Yet another example of Mr. Market's schizophrenic valuation of companies as GS smashed estimates for earnings and for revenues and yet is down 1.7% on the day. Huh? Go figure.
    16 Jul 2013, 05:38 PM Reply Like
  • swaps
    , contributor
    Comments (1573) | Send Message
     
    Obviously traders saw nothing to trade as price was already closse to their expectations...and GS is certainly not a stock to buy and hold. Anyone who did that ten years ago is realizing why Disney is better for that.

     

    Don't traders sell on good news and buy on bad? Just asking..
    16 Jul 2013, 08:47 PM Reply Like
  • al roman
    , contributor
    Comments (16949) | Send Message
     
    S.C had real work to do,as for those enjoy the races.
    17 Jul 2013, 05:43 AM Reply Like
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