Richard Staite cuts his Q2 profit estimate for Goldman Sachs (GS) 40% due to a combination of...

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Richard Staite cuts his Q2 profit estimate for Goldman Sachs (GS) 40% due to a combination of lower trading revenues and smaller investment gains. "Given the weak environment, we expect jobs to be cut across the industry." One could be forgiven for thinking financial shares may have gone a ways towards pricing this in.