Goldman Sachs falls as FICC weakness tempers equities, dealmaking performance

Wells Fargo & Co

13/04/2026 14:22

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** Wall Street giant Goldman Sachs' GS.N shares fall 4.3% to $867.87 premarket

** GS beats first-quarter profit as it benefited from strength in dealmaking and robust equities trading

** But the bank's fixed income, currencies and commodities division was a weak spot, with revenue falling 10% to $4.01 billion.

** "The strength in equities trading and dealmaking shows that the machine is still firing on all cylinders, yet the drop in FICC revenues is a reminder that this is not a one-way street, especially with markets being buffeted by the Iran war," said Axel Rudolph, chief technical analyst at investing and trading platform IG.

** "The big FICC miss the first standout when looking at results. Had been hearing concerns more broadly on FICC but also heard mgmt sounded confident in catch ups, particularly on commodities," said Truist Managing Director Brian Finneran

** GS kicks off earnings season for U.S. big banks, with JPMorgan Chase JPM.N, Citigroup C.N and Wells Fargo WFC.N poised to report on Tuesday

** Shares of Morgan Stanley MS.N and JPMorgan Chase fell about 1.85% and 1.62% premarket, respectively, as the drop in GS' shares weighed on its peers

** Wells Fargo slipped 1.35% and Bank of America BAC.N declined 1.37% in premarket trading

** 8 of 24 brokerages rate the stock "buy" or higher, 15 "hold" and 1 "sell"; median PT $950 - data compiled by LSEG

** As of last close, GS stock up 3.3% YTD

 (Reporting by Arasu Kannagi Basil and Prakhar Srivastava in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))