Shares of Goldman Sachs (NYSE: GS) fell more than 1% in Thursday's pre-market trading after a Senate panel concluded that the investment firm misled clients and Congress about the firm’s bets on securities tied to the housing market. Senator Carl Levin, releasing the findings of a two-year inquiry yesterday, said he wants the Justice Department and the Securities and Exchange Commission to examine whether Goldman Sachs violated the law by misleading clients who bought the complex securities known as collateralized debt obligations without knowing the firm would benefit if they fell in value.
The Wall Street Journal reported Thursday that Alcatel-Lucent SA (NYSE: ALU) is exploring the sale of its business that sells phones and other telecom gear to corporations and which could be worth $1.5 billion or more. The Franco-American company has hired advisers and in recent days began to examine options for the business, which has about $1.5 billion in annual sales. Besides a sale to a single buyer, other options include an initial public offering.
Human Genome Sciences, Inc. (NASDAQ: HGSI) on Thursday said that its U.S. launch of BENLYSTA is off to a good start and preparations for a European launch are on track. The company also said that its collaboration with GlaxoSmithKline is going well. The company said that it now expects to reach profitability in 2013.
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