Wall Street slipped on Monday as the latest financial results from major banks Goldman Sachs and Citibank disappointed.

Goldman Sachs Group fell by 2.1% after it reported less than expected quarterly revenues of 2.25 billion. Mitigating abysmal performance from the bank’s trading division were fees from advising on merging and acquisitions. The trading decline stemmed from lower revenues in corporate bonds, government bonds, foreign exchange, and stock derivatives, offset slightly by improved performance in commodities and mortgages. Still, the bank report earning per share of $5.71, beating Wall Street estimates of $4.89.

Citigroup dipped 1.2% in spite of reporting better than expected earnings for the first quarter. The report, however, cited a decline in their stock trading division which was offset by a steep cut in the bank’s effective corporate tax rate. Earning per share were $1.87 exceeding analyst’s estimate of $1.80.

Stocks were also down for Bank of America who declined by 1.3% while Wells Fargo dipped 0.6% after the bank lowered its outlook for net interest income on Friday.

Following Friday’s announcement to close around 40 stores, Bed Bath & Beyond slumped 2.7%. Elsewhere Qualcomm inched up 0.6%, Nike was up 1.1%, and Waste Management benefitted by 2.5% after reporting that it is buying Advanced Disposal for $2.9 billion.


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