Summary Box: Trading slump hits Goldman Sachs

AP News
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Posted: Jul 19, 2011 2:32 PM
Summary Box: Trading slump hits Goldman Sachs

DOUBLED THEIR MONEY: Goldman Sachs' income more than doubled in the second quarter from the same period a year ago, to $1.05 billion.

STILL NOT ENOUGH: Analysts expected more. The per-share earnings of $1.85 fell short of the $2.35 analysts polled by FactSet were expecting. Goldman's stock fell 2 percent.

BOND SLUMP: Revenues from bond, currency and commodities trading plunged 63 percent versus the previous quarter. Markets have been volatile as Greece edged closer to a default and as the U.S. risks getting its credit rating cut if a stalemate in Washington isn't broken over raising the country's borrowing limit.