|Bid||0.000 x 137000|
|Ask||0.000 x 10000|
|Day's Range||41.380 - 42.200|
|52 Week Range||29.170 - 44.680|
|PE Ratio (TTM)||12.03|
|Dividend & Yield||0.80 (1.84%)|
|1y Target Est||N/A|
Morgan Stanley reported a beat on both its top and bottom lines for the third quarter thanks to strength in its wealth management business, which helped offset weakness in its trading divisions.
Wall Street’s big two investment banks, Morgan Stanley and Goldman Sachs, have shown that they can perform reasonably well even when the environment is tough. What happens if things get better?
Morgan Stanley said its third-quarter profit rose 12% to $1.78 billion as its giant wealth-management business continued to churn out reliable and growing profits even as trading revenue declined.
U.S. stocks rose on Tuesday after company earnings reports were better than expected, with the Dow Jones Industrial Average breaching the 23,000 mark for the first time, while the U.S. Treasury yield curve flattened and the dollar rose to a one-week high on increased inflation expectations. The Dow briefly touched a new high of 23,002.20, powered by earnings from UnitedHealth and Johnson & Johnson. The S&P 500 had been negative as traders were left unimpressed by some bank earnings, but it ticked up before the market closed.
The Dow Jones Industrial Average briefly broke above the 23,000-point mark for the first time on Tuesday, driven by strong earnings from UnitedHealth and Johnson & Johnson, but finished the session just below that milestone. The Dow may in the near term have a difficult time sustaining a move above 23,000, said Robert Pavlik, chief market strategist at Boston Private Wealth in New York. Recent strong economic data and renewed hope that President Donald Trump may be able to make progress on tax reform also have helped lift stocks in recent weeks.
Fixed-income trading revenue fell 20%, matching a slide across Wall Street as volatility from last year's Brexit vote and the U.S. presidential election faded.
Morgan Stanley's wealth unit earned $1 billion from interest on client loans and their securities on deposit. The business could soon surpass investment banking as a moneymaker for the firm.
Wall Street’s biggest brokerages posted double-digit gains in third-quarter profit as clients continued to move money into fee-based accounts and take on more debt.
Is there more comfort to be found in an investment banker, wealth manager, or private equity wizard than in a bond trader? On Tuesday, Goldman Sachs and Morgan Stanley once again reported forecast-beating ...
As earnings season for the biggest banks drew to a close, Morgan Stanley and Goldman Sachs Group Inc. joined other major U.S. lenders in showing the advantages and drawbacks of calm markets.
Morgan Stanley’s wealth management business is powering the company’s earnings, reports The Wall Street Journal. Rivals including J.P. Morgan Chase and Citigroup last week reported profit increases powered by commercial lending and credit cards. Morgan Stanley instead leans on its wealth management division, which oversees $2.2 trillion for some 3.5 million American households, to steady its earnings.
Wall Street rivals Goldman Sachs Group Inc and Morgan Stanley topped analyst expectations on Tuesday, reporting third-quarter earnings gains from a range of products and services despite an industry-wide decline in bond trading. Goldman's private equity investments helped fuel its earnings beat, while Morgan Stanley's wealth management unit delivered record revenue and profit margins. "This is the goal: that we're not as reliant on sales and trading businesses," Morgan Stanley Chief Financial Officer Jonathan Pruzan said in an interview.
Goldman's private equity investments helped fuel its earnings beat, while Morgan Stanley's wealth management unit delivered record revenue and profit margins. "This is the goal: that we're not as reliant on sales and trading businesses," Morgan Stanley Chief Financial Officer Jonathan Pruzan said in an interview.