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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.

Cisco Systems and Westcon Group North America agreed to pay $48 million to settle charges they paid kickbacks and referral fees to win government business, and then recouped those costs and more by overcharging the government for their services.

Reuters has divulged some details about the IPO plan. The most depressing among these is that the deal will price well below the level that would get U.S. taxpayers back the money that they have put into the No. 1 automaker.

Goldman Sachs disclosed to the SEC the exercise of stock options and sales of shares that totaled tens of millions of dollars. CEO Lloyd Blankfein and President Gary Cohn who gained millions from the sale.

The firm will use screening tools to detect common swear words and acronyms, joining several others, such as Morgan Stanley and JPMorgan Chase, that already have such rules about keeping email clean.

A new report from pay czar Kenneth Feinberg looks at compensation practices at 17 banks that received federal bailouts, and it's not a pretty picture: The banks made an estimated $1.6 billion in "ill-advised" payments.

Morgan Stanley is expected to swing back to profitability in the second quarter when it releases results ahead of Wednesday's opening bell, but like other Wall Street giants, its revenues from trading likely swooned in spring and early summer.

After the Dow's 261-point belly flop to end last week on what were, after all, better-than-expected bank earnings, investors may be forgiven for feeling rather queasy after checking out this week's earnings calendar, which includes 120 of the S&P 500.

The SEC's commissioners were split over the decision to settle fraud charges with investment bank Goldman Sachs. Observers say the SEC probably had some doubts about the strength of its case.