Goldman Sachs Notches a Loss of $0.84 Per Share

Matt Taibbi’s bête noire, that “vampire squid” we normally call Goldman Sachs (NYSE:GS), has posted a loss of $0.84 per share in the third quarter.  CEO Lloyd Blankfein has focused his firm’s attention on revenues generated from trading and alternative investments.  The quality of its loan portfolio led to lower revenues in trading and lower valuation of the firm’s assets.  (Recall that, for banks, loans are assets.)

Goldman Sachs Earnings Cheat Sheet: Profit Streak Snapped by a Loss>>

Following is some stock price performance information for Goldman Sachs, along with some of its competitors.

  • Goldman Sachs (NYSE:GS): The shares recently traded at $96.90 and have traded in a 52-week range of $84.27 to $175.34.  The company’s market capitalization is $49.01 billion.  About the company: The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services.  The Company provides services to corporations, financial institutions, governments, and high net worth individuals.
  • Morgan Stanley (NYSE:MS): The shares recently traded at $15.25 and the shares have traded in a 52-week range of $11.58 ro $31.04.  Its market capitalization is $29.4 billion.  About the company: Morgan Stanley, a bank holding company, provides diversified financial services on a worldwide basis.  The Company operates a global securities business which serves individual and institutional investors and investment banking clients.  Morgan Stanley also operates a global asset management business.
  • Bank of America Corp. (NYSE:BAC): The shares recently traded at $6.03 and have traded in a 52-week range of $5.13 to $15.31.  Its market capitalization is $61.11 billion.  About the company: Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services.  The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.
  • JPMorgan Chase & Co. (NYSE:JPM): The shares recently traded at $31.04 and have traded in a 52-week range of $27.85 to $48.36.  About the company: JPMorgan Chase & Co. provides global financial services and retail banking.  The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance.  JPMorgan Chase serves business enterprises, institutions, and individuals.
  • Citigroup, Inc. (NYSE:C): The shares recently traded at $27.93 and have traded in a 52-week range of $21.40 to $51.50.  The company’s market capitalization is $81.5 billion.  About the company: Citigroup is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world.  The Company’s services include investment banking, retail brokerage, corporate banking, and cash management products and services.

(Note: Selected financial data are sourced from Google Finance.  All data are assumed to be accurate.)

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