Weak first quarter expected for Goldman Sachs

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Their credit ratings maybe safe for now, but people are growing increasingly pessimistic about first-quarter earnings for the banks. The AP notes that Lehman Brothers analyst Roger Freeman says all top banks are likely to take writedowns in the quarter, mainly on leveraged loan commitments and commercial assets. He cut his estimate for Goldman Sachs to $2.10 per share from $4.32 per share. Deutsche Bank's uber-analyst Mike Mayo also cut his projection for Goldman Sachs but not as much: to $2.63 per share from $4.64 per share. He's anticipating nearly $3.5 billion in writedowns in the quarter from Goldman Sachs. Is the lucky streak over for Goldman Sachs?   

For more:
- here's the AP brief