More on Goldman Sachs (GS): Cost-cutting is the key, with operating expenses off 14% Y/Y to $6.77B, led by compensation expenses -16% to $4.38B. Investment banking revenue off 9% Y/Y to $1.15B. Net revenue in FICC off 20% Y/Y to $3.46B. Net revenue in Investment Management off 8% to $1.18B. Shares -2.2% premarket.