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Tuesday’s Stocks to Watch and Trading Ideas

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The quarterly results from Goldman Sachs (GS) were leading the headlines Tuesday, as the investment bank that symbolizes Wall Street -- a good or bad thing depending on your perspective -- posted net income that fell from a year earlier but blew past estimates. With the numbers now in hand, The Wall Street Journal zeroed in on the performance of Goldman's investment banking division, and in a separate piece noted that the New York-based firm shrank the amount of compensation it paid.

Elsewhere, Bespoke Investment Group points out that in the stock market rally through the mid-2000s, Goldman was one of the market leaders. Now, it's asking an important question: Will Goldman Sachs (GS) Lead Again? Meanwhile, at The Big Picture, Barry Ritholtz ponders Goldman's legal situation — and right now, he believes the firm may be in a position of strength. "This post marks the very first time I ever found myself advising Goldman Sachs not to settle," he writes. Get the details in: Goldman Sachs Criminal Case? Not Much There ...

For more on Goldman, the market and what you need to know this trading day, read on.

From Twitter:

*Bespoke @bespokeinvest - The Goldman ($GS) earnings party didn't last long. Already down after opening up $2 and change.

*WSJ MarketBeat @MarketBeat - Goldman Sachs Earnings: Analysts React: Quick round-up on the results from the analysts covering Goldman ... http://on.wsj.com/hoxrLO

*BloombergNow @BloombergNow - Obama Embarks on Tour to Sell Debt Plan, Not Dwell on S&P http://bloom.bg/gXBB1B

*Lawrence McDonald @Convertbond - Euro Sovereign CDS, 4/8 vs 4/18 (bp): Greece +255, Ireland +98, portugal +84, Spain +57, Italy +36 #IMF #Stockmarket #RiskManagement

*RedLionTrader @redliontrader - Tee'd up for the bulls. Can they handle it? $SPX 1314 is their goal. $study http://bit.ly/fYA4mB

*Stephen S. Eubanks @Eubiquitous - Mr. TopStep Charts "Head & Shoulder Isn't Just a Shampoo!" http://mrtopstep.com/category/market-commentary/charts/

*Ashraf Laidi @alaidi - $EURCAD pref shorts than $EURCAD hilites importance of currency of choice when buying/selling vs majors. not evrthng has to be done vs $USDX

On the blogs:

*Overinterpreting Short-Term Market Movements: The S&P U.S. Treasury Rating Downgrade Threat - Brad DeLong

*S&P Downgrade Shows U.S. Debt Crisis Could Have Dire Consequences - Money Morning

*The 5-Year Rule in Dividend Growth Investing - Seeking Alpha

*Y2K = QE2 - Pragmatic Capitalism

In the headlines:

*Yuan's Role in China Trade Grows Quickly - The Wall Street Journal

*Baffling Bonds Defy Expectations - MarketWatch

*4 Surprise Reactions to S&P Treasury Slam - SmartMoney

*With Much at Stake, Asia Voices Confidence in U.S. Debt - Reuters

*Stocks for a Slow-Growth Recovery - Barron's

*U.S. Hurries to Sell GM Stake - The Wall Street Journal

*A Negative S&P Outlook's Signal for Stocks - Barron's

*What Tech Firms Are in Your Growth Portfolio? - MarketWatch

*Oil May Hit $150, Gold $2,000: Risk Assessor - CNBC

*10 Doomsday Trends America Can't Survive - MarketWatch

*Two Favorites in Semiconductors - Barron's

Stocks in the news:

*Johnson & Johnson (JNJ) - Tops forecasts even with recalls.

*Northern Trust (NTRS) - Earnings decline in first quarter.

*State Street (STT) - Revenue and net income drop year over year.

*Regions Financial (RF) - Quarterly profit tops expectations.

*SciClone Pharma (SCLN) - Acquires NovaMed Pharmaceuticals, a China-based pharmaceutical company.

*Entergy (ETR) - Sees earnings above consensus estimates.

*U.S. Bancorp (USB) - Earnings top Wall Street's expectations.

*Seagate (STX) - Buying hard-disk business from Samsung.

*After the close, look for quarterly numbers from IBM (IBM), Intel (INTC) and Yahoo! (YHOO).

Compiled by Elizabeth Trotta and Chris Nichols.

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