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Continued: Goldman Sachs' profit doubles, but all analysts want to talk about is new capital requirements

  • Article by: CHRISTINA REXRODE , AP Business Writer
  • Last update: July 16, 2013 - 5:50 PM

Others were more positive. Credit Suisse analyst Howard Chen said that Goldman's core businesses still turned in a good performance and praised the bank for managing expenses. He raised his estimates for this year's earnings and stock price.

LITIGATION: The bank said it set aside $149 million for potential lawsuits and regulatory proceedings, but didn't give a reason. In the most recent three quarters, Goldman has set aside a combined $519 million for legal and regulatory proceedings. In the three quarters before that, it set aside $176 million.

A former Goldman Sachs trader, Fabrice Tourre, went to trial Monday in New York, accused of selling mortgage-backed securities that he knew were going to fail. Goldman already settled related charged with the Securities and Exchange Commission in 2010, though it still faces private lawsuits.

STOCK ACTION: Goldman's stock fell $2.76, or 1.7 percent, to close at $160.24 Tuesday. It's still up 26 percent this year.

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