Discussion in 'Stocks' started by narballs, Sep 12, 2006.

  1. narballs


    Anyone trade this stock... everytime i look over its up another dollar.

    Goldman, the No. 3 U.S. investment bank, kicked off the quarterly earnings season for Wall Street firms by reporting its third-best revenue and earnings per share. The solid results surprised analysts who had cut their forecasts and warned a market downturn that began in May could mark the end of a four-year streak of ever-higher profit.

    "It was a very good quarter. It was a tough summer for them, but Goldman is a money machine," said Sanford Bernstein brokerage analyst Brad Hintz.

    New York-based Goldman (NYSE:GS - News) said net income fell 2 percent to $1.59 billion, for the three months ended August 25, from $1.62 billion in the year-earlier period. Per-share profit rose a penny to $3.26 a share, due to stock buybacks, while net revenue rose 2 percent to $7.46 billion.

    Excluding $133 million in non-cash expenses related to stock-based compensation, the firm had operating earnings of $1.68 billion, or $3.45 a share. On that basis, Goldman exceeded the average analyst forecast of $2.98 by 16 percent.

    "The third-quarter environment was more challenging across virtually all of our business," Chief Financial Officer David Viniar said in a conference call. "Despite these conditions, we produced the third-best revenue quarter in our history.

    Combined with a sizzling first half, Goldman has already earned more this year than in any full year in its history.

    Goldman shares rose $5.98, or 4 percent, to $156.98 in early afternoon trade on the New York Stock Exchange.

    Shares of Goldman had been little changed during the quarter, lagging a 4 percent gain by the broader S&P 500 Index, and sold off 11 percent after hitting a record in April amid concern that brokerage earnings had peaked earlier this year.
  2. Who didn't brokerage basket was the play of the day...
  3. I blew it on GS, actually going so far as to talk of shorting it several days.

    Don't I feel like the f*cking jackass.
  4. don't feel like the lone ranger...I have a PUT calendar on GS :(

    MRS JackAss

  5. lookin' back at all the past retracements a rally followed, why should have been different this time...the odds were stuck against u.
  6. Actually right now I'm not much worse than BE on the calendar as front month short has significantly shrunk. The obvious mistake on my part was not to check out earnings. (stupid stupid stupid) However after exp friday I can roll into a bull put diagonal for Nov and should come out OK.
  7. gs report preview was all over bloomie and cnbc for days ahead of the announcement. even in the mornin' before results were released biz tv were all over the stock, how did u miss it.