The Goldman Sachs Group, Inc. (GS), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. GS is currently trading around $171.90 in a 52 week range of $151.65 – 189.50. The company’s stock has been underperforming the market this year with shares decreasing 2.96% year to date.
GS is expected to report a fiscal third-quarter loss of 9 cents per share, excluding items, on revenue of $21.36 billion, compared with a profit of 20 cents per share on revenue of $21.53 billion a year earlier. Goldman is projected to issue a profit of $3.21 per share on revenue of $7.85 billion, compared with earnings per share of $2.88 on revenue of $6.72 during the same period a year ago. Looking at the company’s earnings history, GS has rallied 3 of the last 8 quarters. On average, the stock has moved about 1.8% in the last 8 quarters. This earnings season, market makers are implying about a +- 3.6% move in the stock for the October 17 weekly option chain. GS is trading above the Ichimoku Cloud on the daily chart, but it is difficult to determine how investors will react to the earnings release. The company will announce earnings tomorrow morning at 9:30 EDT.