Goldman Sachs (NYSE:GS) posted earnings of $1.50 per share, or
$781 million, versus earnings in the year ago period of $1.54
per share, or $756 million. The results beat First Call's
consensus estimate of $1.38 per share. "Our results for the
year speak to the strength, breadth and market leadership of our
business globally," said Henry M. Paulson, Jr., Chairman and
Chief Executive Officer. "Although the markets continue to be
slower for a number of our businesses, we are cautiously
optimistic about the prospects for our business in 2001, and
confident of the significant global growth opportunities of the
coming years." Shares of Goldman Sachs were up 5 7/16 (+6.33%)
to 91 3/8.
Morgan Stanley Dean Witter & Co. (NYSE:MWD) announced earnings
of $1.06 per share for its fourth quarter versus earnings in the
year ago period of $1.42 per share. The results fell short of
First Call's consensus estimate of $1.29 per share. Philip
Purchell, Chairman, and John Mack, President, said in a joint
statement: "[W]e are disappointed with the decline in our
operating margins. Weak results in fixed income and private
equity and unusual compensation pressure in institutional
securities contributed to the decline. However, we continued to
invest in our businesses and as a result, we believe we are
well-positioned to take full advantage of the strong secular
growth in global financial services." Shares of Morgan Stanley
were up 4 5/8 (+6.68%) to 73 7/8. |
