Goldman call: Will strong trends continue?

• Is this just another Q1 bump and then things return to lower levels, asks Mike Mayo on the Goldman Sachs (NYSE:GS) earnings call, wanting to know how sustainable the strong trends seen last quarter are. Mayo notes the investment banking backlog is already lower than it was three months ag.
• We talk to CEOs every day, says Goldman CFO Harvey Schwartz, and - at least in investment banking - the positive trend looks to remain in place. As for trading, he says, it's still too early in the quarter to know for sure.
• Having bid up the shares strongly in advance of earnings, investors today are selling the news. The stock is lower by 1% in morning action.
• Previously: Goldman up 1% early after earnings beat (April 16)