Goldman Sachs, Endocyte, SunTrust, Guidewire Hot Stock Movers March 14th

Goldman Sachs Group, Inc. (NYSE:GS): In an op-ed published in the New York Times, a Goldman Sachs (NYSE:GS) executive, Greg Smith, explained he was resigning as executive director and head of U.S. equity derivatives in EMEA after being at the firm for 12 years because, “the interests of the client continue to be sidelined in the way the firm operates and thinks about making money.” In listing his complaints, Smith wrote that staff were expected to, and promoted for, executing on “axes” or “persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit.” He also said executives were encouraged to Hunt Elephants, or get clients “to trade whatever will bring the biggest profit to Goldman.” Smith stated, “It makes me ill how callously people talk about ripping their clients off” and urged the company’s board to “Make the client the focal point of your business [and] get the culture right again.” Shares of Goldman Sachs Group, Inc. are trading 1.69% lower today.

Endocyte, Inc. (NASDAQ:ECYT): Wedbush said it agrees with Endocyte management that the company has met the EMA’s requirements for potential conditional approval of EC145 and EC20 in FR++ platinum resistant ovarian cancer patients. The firm reiterates an Outperform rating on the stock with a $16 price target following the company’s Q4 results. Shares of Endocyte, Inc. are trading 20.97% higher today.

SunTrust Banks, Inc. (NYSE:STI): SunTrust Banks announced that the Federal Reserve completed its annual review of SunTrust’s capital plan, submitted in January in connection with the Comprehensive Capital Analysis and Review, or CCAR. The Fed review showed that SunTrust’s capital exceeded requirements throughout the Supervisory Stress Test time horizon without any capital actions. As a result of this review, SunTrust will not be increasing its return of capital to shareholders at this time; however, SunTrust expects to: Maintain its current quarterly common stock dividend of 5c per share. Redeem certain trust preferred securities at such time as their governing documents permit, including when these securities are no longer expected to qualify as Tier 1 capital. CEO William H. Rogers, Jr. commented: “SunTrust’s improved earnings momentum has continued in Q1 of 2012 and is expected to result in EPS that exceed the Q1 First Call mean estimate,” which is 30c. Shares of SunTrust Banks, Inc. are trading 4.43% higher today.

Guidewire Software Inc (NYSE:GWRE): Reported Q2 revenue $55.1M, consensus $46.23M. Shares of Guidewire Software Inc are trading 22.81% higher today.

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI): Reported Q4 revenue $33.3M versus consensus $24.58M [1 estimate]. Net income for Q4 included a $4.6M non cash tax adjustment related to valuation of the company’s deferred tax assets. Shares of Perma-Fix Environmental Services, Inc. are trading 11.39% higher today.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com