I’ve been advising investors to steer clear of financials, but one stock I like is Goldman Sachs (GS). Today Goldman showed why it rules Wall Street.
For the second quarter, Goldman Sachs earned $3.44 billion or $4.93 a share. That creamed Wall Street’s consensus of $3.53. Revenue came in at $13.8 billion which easily topped the consensus estimate of $10.6 billion.
In other earnings news, Johnson & Johnson (JNJ) posted second-quarter earnings of $1.15 a share which was two cents a share less than last year, but four cents a share higher than forecasts. Revenue dropped by 7.4% to $15.24 billion which was slightly more than forecasts. I was impressed to see JNJ reaffirm its full-year earnings range of $4.45 to $4.55.
I currently rate Goldman Sachs a buy and Johnson & Johnson a hold.