Goldman shares down despite Q1 earnings

Goldman Sachs Group reported high quarterly earnings on Tuesday, but investors appeared to be focusing more on the U.S. fraud case against the bank.

Goldman said first-quarter net income nearly doubled to 3.29 billion US dollars. This was bolstered by strength in fixed income trading and principal investments. The earnings of 5.59 US dollars a share easily exceeded analysts' average forecast of 4.01. But the forecast-beating results failed to bolster the group's sagging shares, which slipped 2.1 percent.

Analysts say the rash of negative headlines about the company in recent days has had a counter balancing affect of the positive sales results.