They and Morgan Stanley are practically the only games left in town as others have gone by the wayside or are licking their wounds.”"It will be interesting to see exactly how Goldman’s shares respond to this The early read is a bit of a sell on the news. I do caution investors that the Goldman business model is a little bit different, the focus is investment banking. I think the trading operations were all systems go, that was supported by strong underwriting results.”"I think that this is going to provide a nice shot in the arm of confidence generally for the market, particularly for the financials. The flip side is one could argue they’re making too much.”DAVID DIETZE, CHIEF INVESTMENT OFFICER, POINT VIEW FINANCIAL SERVICES, SUMMIT, NJ”It’s very impressive, a huge beat. But they were the leaders yesterday, so they deserve a break. It’s the classic case of buy the rumor, sell the fact.”On the U.S. government bailout plan: “They want to make sure that the banks are making money, so they do make money.

They didn’t beat expectations nearly as much as Goldman, but J&J is trading higher because the expectations weren’t priced into the stock already.”I would say that the reason futures pared their gains is because of Goldman Goldman puts a cap on the financials today. Just goes to show that its all relative to the expectations that were embedded into the price of the stock at the time.”This is all opposed to Johnson & Johnson, which beat expectations by only something like three cents but is trading a buck higher. They did print a good number but based on yesterday’s action it was apparently all built into the stock, at least for now.”So now the stock is selling off. NEW YORK (Reuters) – Goldman Sachs Group Inc reported a stronger than forecast 33 percent rise in quarterly earnings as a gain in trading outweighed a one-time charge to repay government loans. FranceWall Street’s largest surviving investment bank reported net income for common shareholders of $2.7 billion, or $4.93 a share, compared with a pro-forma $2.05 billion, or $4.58 a share a year earlier.Stripping out extraordinary items, Goldman earned $4.93 a share, beating analysts’ consensus forecast of $3.39, according to Reuters estimates.The following is reaction from industry analysts and investors:TERRY MORRIS, SENIOR VICE PRESIDENT AND SENIOR EQUITY MANAGER FOR NATIONAL PENN INVESTORS TRUST COMPANY IN READING, PENNSYLVANIA”I saw this coming, or at least thought I did It’s a buy the rumor, sell the news kind of thing.

NEW YORK (Reuters) – The costs to insure the debt of Goldman Sachs Group Inc fell on Tuesday after the bank reported a stronger-than-forecast rise in quarterly earnings.Goldman’s credit default swaps tightened to about 142 basis points, from 150 basis points late on Monday, according to Phoenix Partners Group data.(Reporting by John Parry; Editing by W Simon). Viniar said head count was likely to rise in the third quarter.”If anything, we are seeing an influx of talent,” he said.He declined to discuss the specifics of the alleged theft of Goldman computer codes by a former employee, but called any losses “immaterial” and said Goldman still has the codes.(Reporting by Steve Eder and Elinor Comlay; editing by John Wallace). NEW YORK (Reuters) – Goldman Sachs’ strong second-quarter earnings were a result of “basic blocking and tackling for the firm,” the Wall Street bank’s chief financial officer said on Tuesday.In a quarter in which Goldman reported a 33 percent rise in earnings, David Viniar said the company focused on its core businesses, without ramping up risk.”We did well across a variety of businesses,” Viniar said on a conference call with journalists. “We believe we are doing good things.”He added, “We are helping the economy recovery. I don’t like reading bad things about Goldman Sachs.”Criticism of the bank in Washington and on Main Street has centered on its role in the financial crisis and the generous compensation paid to its executives.In October Goldman received a $10 billion government bailout, and it has also benefited from other government schemes during the depths of the crisis.Goldman reported better-than-expected earnings for both the first and second quarters, rebounding from the near meltdown of the U.S. NEW YORK (Reuters) – Goldman Sachs Group Inc is well aware of the negative public sentiment toward the big Wall Street bank, but the distrust is not deserved, Chief Financial Officer David Viniar said on Tuesday.Goldman is “not immune to public sentiment,” Viniar told Reuters in an interview following release of the bank’s strong second-quarter results.”We know it We see it We don’t like it,” he said. * Gasoline swaps were around $571.00 a tonne for August,sitting at a $4 discount to July September was trading at$562.50 a tonne * Naphtha prices were between $505 and $510 a tonne.