Deals
Goldman Shares Rise as Investors Look Past Quarterly Loss
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Goldman Sachs Group Inc. rose 5.5 percent in New York trading as investors looked past a third-quarter loss and focused on gains in trading revenue and prospects for a rebound in underwriting and takeovers.
Revenue from trading stocks and bonds increased 16 percent from the second quarter and the backlog of investment-banking assignments climbed, Goldman Sachs said today. The third-quarter loss, which was driven by markdowns on the value of the firm’s own investments, was $393 million, or 84 cents a share, the New York-based company said in a statement.