(RTTNews) - Goldman Sachs (GS) slipped in pre-market trading, on reports the company will likely report a quarterly net loss of about $2 billion.
The stock was down $2.76 just after 8:40 am ET, dipping to $63.00. If pre-market losses hold, the stock will open at its lowest level in just over a week.
Citing industry insiders, the Wall street Journal reported that Goldman Sachs is likely to report a net loss of as much as $2 billion or $5 per share for the quarter ended November 28, 2008.
The report further noted that the firm faces write-downs on everything from private equity to commercial real estate.
For the third quarter, Goldman Sachs' net earnings dropped to $845 million or $1.81 per share, from $2.85 billion or $6.13 per share in the previous-year quarter.
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