Listen: Goldman Sachs, Keith Campbell And Citigroup discussed on Bloomberg Daybreak: Europe
"To US banks, the CEOs of CitiGroup and Goldman Sachs went into defense mode yesterday as beats on the bottom line from both groups failed to appease investors. Goldman Sachs Chaz slumped as it reported a big first quarter trading. Decline on concerns about growth in Citigroup's consumer unit. So Chaz full almost two percent before recovering today. Trading figures will be watched closely as Bank of America reports before Morgan Stanley closes out the week tomorrow from all I'm joined by Bloomberg's finance editor Keith Campbell. Keith great to have you with me in the studio. So let's just talk about the differing moves in the share prices of Goldman and city. What did we see Goldman close so much lower? It was one of the log odds on the Dow whereas city recovered most of its losses. There seemed to be a few different things going on in Goldman Sachs's case David Solomon, who's been the CEO for about a year. Now, the people are waiting for a big strategic review from him. And they didn't get it. This might be more of the thing that analysts care about rather than stock traders. But still you could see if he'd announce something big it might have been more of a catalyst for the shares. But he he he's dumped some of the dissipation for that saying. Take more time to do the review than he was he than previously expected and the first quarter of next year is more realistic. So that's one factor. The the other the other thing to keep in mind is investment banking investment banking has been on a tear in the US"