PROFITS FALL AT GOLDMAN, J&J; MORGAN STANLEY UP

A slow summer in the markets reared its head in the third quarter. Goldman Sachs’ profits fell 3% from a year earlier, but the results still beat forecasts. Wall Street’s biggest investment bank earned a profit of $2.04 billion. Investment bank Morgan Stanley said Tuesday its Q3 profits rose 12% and also beat expectations, earning $1.78 billion. At Johnson & Johnson, profits fell 12% despite a big jump in sales. However, the health care giant easily topped Wall Street expectations.