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Don't buy Goldman Sachs' bull |
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| Dec 17, 2008 10:30 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Earnings reports, Bad news, Newsletters, Goldman Sachs Group (GS), Stocks to Sell, Financial Crisis  Investment banking star, Goldman Sachs Group, Inc. (NYSE: GS), has many analysts scratching their heads. The turmoil in the financial sector, a weak economy and its conversion to a bank holding company result in a mixture that is difficult to value.
As a result of the uncertainty, GS shares have been trading with a high degree of volatility. Yesterday, a huge piece of uncertainty was removed from the equation. With some expecting the company to post a massive loss in excess of $5 billion, GS managed to lose only $2.29 billion, or $4.97 per share. Even though the loss was greater than Wall Street expectations, investors cheered that the news was not worse. GS shares were up $9.54 to $76 per share yesterday after the release. Continue reading Don't buy Goldman Sachs' bull Don't buy Goldman Sachs' bull originally appeared on BloggingStocks on Wed, 17 Dec 2008 17:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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