How the Mighty Have Fallen: Goldman Posts Mediocre Trading Quarter (GS)

Goldman Sachs GS experienced an unusual 10 days of trading losses for the second quarter, with three days of more than $100 million in trading losses, according to a report filed Monday. The results contrast sharply with the first quarter, when Goldman Sachs hit trading perfection. Goldman Sachs then reported zero days of losses, or no trading days below $25 million in revenues. According to a Reuters report, "While the second quarter was still largely profitable for Goldman's trading operations, the positive trading days oscillated between booming returns and sluggish results." The New York-based bank reported 17 days with more than $100 million in trading revenues, followed by 12 days with revenues between $0 and $25 million. Despite a recent upswing in stock price, Goldman Sachs has struggled to regain its reputation after allegations of fraud by the SEC. The company has since settled in a $500 million+ agreement, but is a far cry from its October, 2007 high of $235.92. Shares of Goldman Sachs are up slightly today, to $155.27.