Posted on 04/17/2018 11:37:21 AM PDT by davikkm
Goldman Sachs joined a somewhat awkward club Tuesday morning, delivering better-than-expected quarterly earnings only to see its shares sink when the market opened. The Wall Street firm reported earnings of $6.95 per share, compared with analyst expectations of $5.56. This was the third-best earnings-per-share ever for Goldman. Revenue of $10.4 billion topped estimates of 8.54 billion, a 25 percent increase from a year ago.
Yet investors were not in the mood to pop champagne corks. Goldman shares fell by 1.6 percent Tuesday morning even as the broader market moved up, with the S&P 500 rising by 1 percent. Year to date, shares of Goldman have barely moved at all.
This is a pattern now familiar to investors. When J.P. Morgan Chase reported better than expected earnings last week, its shares sank. The same thing happened at Bank of America and Citigroup.
One of thing that likely put Goldman shareholders in a sour mood: Goldman’s comments that it wouldn’t be buying back shares in the second quarter.
(Excerpt) Read more at breitbart.com ...
Deutsche Bank derivatives is the BIG UGLY with all banks connected (that includes the fake banks like goldman sachs) watch the trickle become a stream into crypto-blockchain than a river flowing away from printed paper......
buy the rumor, sell the news
JPM is still up over 60% since pre-election values
It’s called “profit-taking”.
“Goldman Sachs shares sink”
With the homeless?
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