There's never a dull moment on Wall Street. Next week brings a Xoom-related media event from Verizon and Motorola Mobility, as well as fourth quarter results from Apple and several of the country's biggest financial institutions.
Goldman Sachs reported second quarter earnings of $1.09 billion, or $1.85 per share -- results that are below expectations. While still the most venerable Wall Street Bank, Goldman's quarterly earnings underline a key trait of the investment banking industry: Results can be exceedingly volatile.
Fourth-quarter 2010 earnings season ramps up this week. Analysts expect strong results from some big corporate names. And on the heels of last week's big earnings beat from JPMorgan Chase, the financial sector will have plenty more results to peruse this week.
Goldman Sachs reported sharp declines in third-quarter earnings and revenue, hurt by slower summer trading activity. But its profits still easily exceeded analysts' average forecast.
Goldman Sachs is expected to report a sharp drop in third-quarter earnings early Tuesday, due to a decline in trading activity in a market that's been light on volume for months. Goldman is forecast to report adjusted earnings of $2.28 a share.