Lloyd Blankfein Attorney News Is Not 'New' News - Analyst (GS)
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Price: $1,051.31 +1.14%
Rating Summary:
16 Buy, 23 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
16 Buy, 23 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Analyst Matthew Burnell at Wells Fargo said news Monday afternoon that Goldman Sachs (NYSE: GS) CEO Lloyd Blankfein hired defense attorney Reid Weingarten is not "new" news, but the dive in the stock illustrates the market uncertainty.
In a statement about the matter, Goldman said "As is common in such situations, Mr. Blankfein and other individuals who were expected to be interviewed in connection with the Justice Department's inquiry into certain matters raised in the PSI (Senate Permenent Subcommittee on Investigations) report hired counsel at the outset." Burnell said this comment suggests the media report was not reporting a new event.
Burnell also said Goldman confirmed to them that it is aware of no pending civil or criminal suits expected to be filed against the company or its executives.
"In the end, we believe the hiring of Weingarten is a prudent step for a high profile
CEO given the issues faced by GS and the scrutiny we expect he will face in such an environment."
For more ratings news on Goldman Sachs click here and for the rating history of Goldman Sachs click here.
Shares of Goldman Sachs closed at $106.51 yesterday.
In a statement about the matter, Goldman said "As is common in such situations, Mr. Blankfein and other individuals who were expected to be interviewed in connection with the Justice Department's inquiry into certain matters raised in the PSI (Senate Permenent Subcommittee on Investigations) report hired counsel at the outset." Burnell said this comment suggests the media report was not reporting a new event.
Burnell also said Goldman confirmed to them that it is aware of no pending civil or criminal suits expected to be filed against the company or its executives.
"In the end, we believe the hiring of Weingarten is a prudent step for a high profile
CEO given the issues faced by GS and the scrutiny we expect he will face in such an environment."
For more ratings news on Goldman Sachs click here and for the rating history of Goldman Sachs click here.
Shares of Goldman Sachs closed at $106.51 yesterday.
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