Goldman Sachs Shows Bear Stearns Who Daddy Is (GS, BSC)

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By Douglas A. McIntyre Updated Published

Last night we put out an alert where traders were clearly making a bet that Goldman Sachs (NYSE:GS) was going to be an earnings winner compared to its smaller and more troubled Bear Stearns (NYSE:BSC).  This morning that looks to be the case and then some. 

Goldman Sachs reported earnings at $6.13, but that looks to have items, and it had gains from being short mortgages and posted major loan losses like other brokerages.  Shares are up another 2% pre-market back over $210.00 after rising each day.

Bear Stearns isn’t feeling the same brotherly love this morning.  Its shares are down 1.6% pre-market at $113.75 after reporting $1.16 EPS.  This was perhaps the most leveraged to mortgages and CDO’s.

Here was what we noted yesterday that showed the performance of all major brokerages into today’s earnings and after the FOMC 50/50 rate cut.

Jon C. Ogg
September 20, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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