DTT Buzz
Exclusive Market Analysis, Alerts and Commentary from the DaytradeTeam trading staff
Tuesday, March 18, 2008
Goldman Sachs and Lehman Brothers Earnings
This mornings earnings releases from Financial firms Goldman Sachs and Lehman Brothers were highly anticipated by the street. Yesterday's blow up in Bear Sterns drew even more attention to these earnings reports. The reports are in, and the stocks are catching a solid bid.
Goldman Sachs is trading approximately 10% higher than yesterdays close. They beat Q1 earnings estimates by $0.65, with $3.23 per share versus expectations of $2.58 per share. Their revenue fell to 22.4% year over year, but came in higher than expectations at $8.34 billion versus a consensus of $7.47 billion.
Lehman Brothers reported earnings of $0.81 per share for Q1, beating estimates of $0.72 per share by $0.09. Revenues fell 30.5% year over year, but they beat the expectations of $3.35 billion with a reported $3.51 billion in revenue. The stock is very strong pre-market, trading approximately 19% higher than yesterdays close.
The Financial sector is a very risky sector. Today's news is good for the sector, but negative news can be pop up out of nowhere at any time. Use caution when playing the Financials.
Regards,
Goldman Sachs is trading approximately 10% higher than yesterdays close. They beat Q1 earnings estimates by $0.65, with $3.23 per share versus expectations of $2.58 per share. Their revenue fell to 22.4% year over year, but came in higher than expectations at $8.34 billion versus a consensus of $7.47 billion.
Lehman Brothers reported earnings of $0.81 per share for Q1, beating estimates of $0.72 per share by $0.09. Revenues fell 30.5% year over year, but they beat the expectations of $3.35 billion with a reported $3.51 billion in revenue. The stock is very strong pre-market, trading approximately 19% higher than yesterdays close.
The Financial sector is a very risky sector. Today's news is good for the sector, but negative news can be pop up out of nowhere at any time. Use caution when playing the Financials.
Regards,
Nick Fenton
Sr. Trade Analyst, DaytradeTeam
p.s. Call 1-866-232-9872 and ask about our Learn and Master Technical Analysis seminar. This seminar will take your technical trading skills to the next level!
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