Disappoints? As one news report said, “they knocked the cover off the ball.” They even beat the so-called “influential analyst” target earnings number by a lot and she was a huge number over consensus. Yet Goldman Sachs open lower Tuesday (even though it is slightly in the green at the time of this post).
As I wrote yesterday, they had to crush the whisper number and apparently they did not. It is early but seeing such a whoop it up analyst upgrade after a 150% rally fits right in with a top. But again, it is early. Let’s see where Goldman ends the week.
Here is another headline from this morning: Stocks stumble out of the gate, as data on PPI and retail sales cloud any enthusiasm over J&J and Goldman Sachs results.
I guess they had to blame something. How about buy the rumor, sell the news on Goldman? How about retail sales were indeed the best in five months but it was six months of garbage. Sorry for digressing into the fundamentals on the last one. Did you see the sub-headline? Core sales down for fourth straight month.
Journalists. Give them a break because they have to earn a living.
