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Tuesday's Financial Winners & Losers

The hamstrung market once again proved thoroughly unpredictable on Tuesday amid persisting credit fears, guiding financial stocks into a midday slide after a seemingly stalwart morning start.

Goldman Sachs (GS - Get Report) more or less mirrored these movements even after the New York brokerage posted a better-than-expected profit of $3.17 billion, or $7.01 a share, in the fiscal fourth quarter. Analysts polled by Thomson Financial were looking for $6.61 a share. Revenue sank 12.9% sequentially to $10.7 billion, but that still represents a 14.2% gain over last year and comes in ahead of the $10.2 billion average analyst estimate.

Still, Goldman shares traded largely in negative territory after a short-lived morning struggle to get above water. Recently, the stock was down $7.86, or 3.8%, at $200.77.

Ditto for Cleveland-based Third Federal Savings and Loan (TFSL - Get Report), which was down 2.7% at $11.95 despite swinging to a fiscal fourth-quarter profit of $15.1 million, or a nickel a share, from a year-ago loss. Those earnings also include a sizable income-tax expense, whereas last year's results were helped by a big tax-related gain.

Washington Mutual (WM - Get Report), meanwhile, announced the retirement of its chief legal officer, 10-year company veteran Fay Chapman. The Seattle savings bank didn't specify a date for this, but it did say that Chapman will serve as a consultant for two years to help with the transition and provide special counsel. WaMu shares were down 64 cents, or 4.3%, to $14.28.
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ASFI $10.01 0.00%
GS $164.11 0.00%
PSEC $7.48 0.00%
TFSL $17.90 0.00%
WM $58.79 0.00%


Chart of I:DJI
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S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

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