April 20, 2010

Goldman Sachs (GS): Split Vote Plus Earnings Will Send The Stock Higher

It seems that there was not a lot of consensus inside the Securities and Exchange Commission (SEC) to sue Goldman Sachs (GS):

April 20 (Bloomberg) -- The U.S. Securities and Exchange Commission split 3-2 along party lines to approve an enforcement case against Goldman Sachs Group Inc., according to two people with knowledge of the vote.
SEC Chairman Mary Schapiro sided with Democrats Luis Aguilar and Elisse Walter to approve the case filed on April 16, said the people, who declined to be identified because the vote wasn’t public. Republican commissioners Kathleen Casey and Troy Paredes voted against suing, the people said yesterday.


This is obviously very bullish for the stock. Don`t forget that Goldman Sachs (GS) reports its earnings before the opening bell. I would`t be surprised if it recoups most of its recent losses.

Related ETF`s: Financial Select Sector SPDR (ETF) (Public, NYSE:XLF)

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