Shares of Goldman Sachs Group Inc. on Tuesday looked set to erase more than 40 points from the Dow Jones Industrial Average at the start of trade, after the giant investment bank’s first-quarter results fell short of Wall Street estimates. In premarket trade Goldman’s stock , a contributor to the Dow, was off about 2.8%, or $6.26, from its Monday close of $226.26, which would translate into a 42-point drop for the price-weighted blue-chip benchmark. A point drop of that magnitude for Goldman also would put it on track to log its worst daily decline since March 21, when shares of the bank run by CEO Lloyd Blankfein lost $8.56 or 3.5%, according to FactSet data. Goldman reported a profit of $2.26 billion, or $5.15 a share, which compares with $2.68 a share for the same period a year ago, when Goldman posted its worst first quarter in 12 years as trading slumped. Futures for the Dow were off 60 points, or 0.3%, at 20,509, while those for the S&P 500 were down 5 points, or 0.2%, at 2,339. Futures for the Nasdaq-100 were down 9.50 points, or 0.2%, at 5,385. Meanwhile, shares of Dow component UnitedHealth Group Inc. were adding about 26 points to the equity gauge, helping to offset some of Goldman’s decline. United also reported quarterly results, with profits up as the company exited many of the Affordable Care Act’s exchanges.
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