Goldman Sachs reported better-than-expected first-quarter results
Bank stock Goldman Sachs Group Inc (NYSE:GS) is up 2.5% at $506.83 at last glance, after the company's better-than-expected first-quarter report. The firm posted earnings of $14.12 per share on revenue of $15.06 billion, beating estimates of $12.35 per share on $14.81 billion. Record equities-trading revenue boosted these results, with CEO David Solomon expressing confidence moving forward.
Amid tariff woes, GS has fallen quite a ways from its Feb. 18 record high of $672.19. Year to date, the equity is down 11.5%, though it's still holding on to a 30.2% year-over-year gain. On the charts, today's pop has the stock breaking above the 320-day moving average.
In the options pits, calls are being picked up at double the average intraday rate. So far today, 18,000 calls have been exchanged in comparison to 8,615 puts, with the most volume at the April 550 call.
Analysts have yet to chime in, though there is plenty of room for optimism. Of the 23 brokerages in coverage, 13 carry a "hold" rating.