Meredith Whitney Cuts Goldman Sachs Estimates - Again

Discussion in 'Wall St. News' started by ASusilovic, Jan 5, 2010.

  1. Well-known banking analyst Meredith Whitney on Tuesday cut her earnings estimates for Wall Street bank Goldman Sachs for the second time in less than a month.

    Shares of Goldman Sachs (NYSE: gs) fell immediately after the news, but then rebounded higher.

    Whitney, head of the Meredith Whitney Advisory Group, lowered her fourth quarter estimate for Goldman Sachs to $5.50 from $6.

    She also cut her full-year estimate for Goldman for 2010 from $19.65 to $19.20; her 2011 earnings per share estimate from $20.60 to $20.25; and her 2012 estimate from $21.45 to $21.10.

    Whitney had previously cut her estimates for Goldman on Dec. 17.

    Whitney lowered her estimates for bank Morgan Stanley (NYSE: ms) this past December, reducing her 2010 expectations to $2.60 a share from $2.63 a share. For 2011, her firm lowered its profit estimates to $2.75 a share from $3.28 a share on the bank.

    It also set an earnings estimate of $2.90 a share for Morgan Stanley for 2012.

    No Whitney bonus today ? :D