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Posts tagged GS
Goldman Sachs settling with SEC at $550 million.
Jul 15th
I have foreseen something like this when I heard SEC accusing of Goldman Sachs back in mid April. And though that the GS ($145.22 7/15/2010 / $117.53 4.14 +3.65% Now / -19.07% Change)will soon resolve the issue with SEC and the price will be back up at the end of GS when the price was around $145. ( Good Opportunity with Goldman Sachs ) But I guess my call was too soon and the market was down for several weeks and the price was even down to around $130 level.
But today finally I hear the news that I have been waiting for.
Goldman Sachs has agreed to pay $550 million to settle federal claims that it misled investors in a subprime mortgage product as the housing market began to collapse, officials said Thursday.
S.E.C. Settling Its Complaints With Goldman (New York Times)
So the stock was up 4.43% to $145.22 during the regular opening hours and up 5.61% after hours.
At this time, it is quite difficult to tell if GS is out of the woods yet. So I am not sure if GS could do better. We have the second quarter earnings report on 7/20 (Next Tues) morning. If GS would be able to beat the estimates, probably GS can run up some more. But at this time I do not expect too much.
Good Opportunity with Goldman Sachs (GS)
Apr 30th
Goldman Sachs GS ($146.33 -13.91 -8.68%) (4/30/2010) is down about 9% at this time after the news came out that the federal prosecutors are looking into whether to charge Goldman Sachs Group Inc. or its employees with criminal securities fraud from Wall Street Journal.
The report cited unnamed sources familiar with the probe. Neither Goldman nor the office of U.S. Attorney Preet Bharara would comment for the report.
Also many financial firms downgraded GS today . Bank of America lowered GS ratings to neutral from buy and cut price to $160 from $220 per share.
The best way to take advantage of the stock market is to catch the right opportunity. GS is the biggest stock trading financial firm and there is no doubt that it will continue to be one of top financial firms in US.
I think GS is already down pretty much from the above $180 range. This may be a good time to buy some of the GS stocks. However, it would be a good idea to monitor the stocks for some more time, too.
LIVE data: GS ($117.53 4.14 +3.65% Live)
Hello, my name is Chris. I have started stock trading about 3 years ago. I am not an active or day trader but I learned many valuable lessons. I will try to explain what I learned during the times. So please visit again and leave comments! Thank you.
