Goldman Sachs (NYSE:GS) reported that its net income declined 11 percent in the April-to-June phase following the investment bank’s users made lesser transactions and kept away from instability in worldwide financial markets.
The New York bank reported that its net income declined to $962 million, or $1.78 for each share, for the quarter. That contrasts with $1.09 billion, or $1.85 for each share, last year same quarter. It’s also far above than the $1.17 a share that experts were hoping for.
In the recent quarter, market scenario worsened and activity levels for both business and investing traders were inferior given persistent volatility in Europe and doubts regarding international growth, Goldman’s CEO, Lloyd Blankfein, commented in a note.
Its competitors include JPMorgan Chase & Co. (NYSE:JPM) that slipped -1.33% to $34.62 with the total traded volume of 11.80 million shares and Morgan Stanley (NYSE:MS) that dropped -1.33% to $14.06 with the total traded volume of 4.29 million shares.
Other financial stocks with bullish trend include Bank of America Corp (NYSE:BAC) up 0.13% to $7.82, Citigroup Inc. (NYSE:C) up 0.75% to $27.01 and Regions Financial Corporation (NYSE:RF) up 1.05% to $6.73, whereas with bearish trend include Wells Fargo & Company (NYSE:WFC) down -0.68% to $33.79, State Street Corporation (NYSE:STT) down -5.10% to $41.89 and Chimera Investment Corporation (NYSE:CIM) down -0.43% to $2.32.
Goldman Sachs Group, Inc. (NYSE:GS) stock reports on July 17, 2012 increased 1.13% to the trading price of $98.78 at 10:27AM EDT. Its fifty two week range is $84.27-$139.25. The total market capitalization remained $48.60 billion.
The overall volume in the current trading session is 3.12 million shares. In its share capital GS has 491.88 million outstanding shares among them 485.84 million shares have been floated in market exchange. GS stock institutional ownership remained 73.64% while insider ownership included 1.39%.
GS is ahead its 52 week low with 17.30% and lagging behind from its 52 week high price with -28.81%. GS last month stock price volatility remained 2.30%. The stock price of GS is moving forward from its 20 days moving average with +2.89% and remote positively from 50 days moving average with +1.17%.
GS current year earnings per share experienced a decline with -65.80% while its current quarter performance remained -16.63%. Company’s beta coefficient included 1.43. Beta factors measures the amount of market risk associated with market trade.
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