earned $2.31 billion, or $4.78 a share, in the latest second quarter, including gains from the sale of a power plant and part of its stake in the
New York Stock Exchange
. A year ago, Goldman earned $865 million, or $1.71 a share. Revenue more than doubled to $10.1 billion.
Before expenses related to its accounting for stock options, Goldman earned $2.40 billion, or $4.97 a share. Analysts were calling for earnings of $4.28 a share on revenue of $8.26 billion. Shares of the investment bank lost $5.79, or 4%, to $139.21.
Banc of America Securities initiated coverage of the
Nasdaq Stock Market
with a buy rating, but that vote of confidence didn't help the company's shares. Nasdaq saw its stock drop $1.01, or 4%, to $24.28. Volume was heavier than normal.
A day after
Texas Regional Bancshares
reached a deal to be acquired, AG Edwards says now is the time for investors to take profits. The firm cut its rating on Texas Regional to sell from hold.
Texas Regional said Monday it would be bought by
Banco Bilbao Vizcaya Argentaria
( BBV) for $2.16 billion in cash. The transaction values Texas Regional at $38.90 a share. Texas Regional added 4 cents, or 0.1%, to $37.74.
Bank of Nova Scotia
stumbled after the financial services company said it agreed to acquire Corporacion Interfin for $293.5 million. Corporacion Interfin is the parent of Banco Interfin, Costa Rica's largest private bank.
The transaction is expected to close in about two months. Bank of Nova Scotia's shares fell $1.11, or 2.7%, to $39.90.