Chillin' out till it needs to be funded
Yet another Wall Street analyst has joined the crowd forecasting that Goldman Sachs will have no choice next month but to report its first-ever quarterly loss.
Brad Hintz of Bernstein Research sent a research note to clients on Monday predicting that the investment bank-turned-bank holding company, would lose 54 cents a share for the three months ending in November, compared with earlier estimates that had Goldman making $2.12 a share.
Mr. Hintz joins a slew of analysts, including David Trone of Fix-Pitt Kelton, in forecasting a loss at Goldman Sachs. Like the other analysts, Mr. Hintz attributed the expected loss primarily to reduced sales and trading revenues in the fixed-income and stock markets, where conditions are difficult and volatile.