Goldman Sachs (GS) Sees Initial Sell-the-News Reaction After Blow Out Qtr

Goldman Sachs (NYSE: GS) is down 1.3% from the New York close following blow-out Q1 results and plans for a $5 billion equity offering that the company would like to use to payback TARP.

This is likely a "buy the rumor sell the news" reaction as the stock is up 95% since reporting its 'kitchen sink' Q4 and is up 174% from its November low of $47.41.

Also, maybe some think the results are "too good" and will draw attention from Congress. Some in Congress have been trying to paint the company with the conspiracy theory brush due to its current and past ties with financial leaders.

You May Also Be Interested In

• Goldman, BofA vie to manage Anthropic employee wealth post-IPO - report
• Franklin BSP Realty Trust declares Q3 dividend, renews $50M buyback
• Kadant (KAI) Declares $0.36 Quarterly Dividend; 0.5% Yield