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So far we could not find this information in SEC's website, but probably the update will come this morning. Most of the $700 million stock sales occurred during the period in which the investment bank enjoyed the support of $10bn from the troubled asset relief program.
On the other hand Goldman Sachs is expected to show earnings that are the best since 2007, according to experts. Analysts anticipate $2.2.B Goldman Sachs profit.
Daily News reports that Goldman shed government-imposed restrictions on pay by returning $10 billion of bailout money to the Treasury Department last month. The past few months, the firm has ratcheted up trading gains and reaped more fees from stock and bond sales.
Goldman is going to post "enormous" revenue from its fixed-income, currencies and commodities business, analyst Meredith Whitney predicted in an interview on CNBC.
"Goldman is going to surprise big on the upside," she said.
According to Bloomberg Goldman already added one percent in early trading before reporting its earnings. U.S. stock-index futures advanced, indicating the Standard & Poor’s 500 Index will extend its steepest gain in six weeks, on optimism Goldman Sachs Group Inc. will post the highest earnings since 2007. Currently the pre market Goldman Sachs price is 150.20 at 8.02 AM EST.
Written by Armen Hareyan
Posted July 14th, 2009 by Armen Hareyan
