|Bid||28.30 x 1300|
|Ask||28.35 x 800|
|Day's Range||28.22 - 28.41|
|52 Week Range||25.35 - 28.76|
|Beta (3Y Monthly)||0.11|
|PE Ratio (TTM)||6.20|
|Forward Dividend & Yield||1.72 (6.09%)|
|1y Target Est||N/A|
Yahoo Finance's Julie Hyman, Adam Shapiro, Andy Serwer and Lending Tree's Tendayi Kapfidze break down Morgan Stanley's earnings.
Yahoo Finance's Brian Sozzi, Emily McCormick, and Alexis Christoforous break down Morgan Stanley and IBM's second quarter earnings.
Morgan Stanley (MS) reported its second-quarter earnings on Thursday. The bank beat analysts’ consensus EPS estimates for the quarter.
Morgan Stanley earnings beat Q2 estimates, following results from Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America.
Bank of America CEO Brian Moynihan just went a long way in showing not all millenials are broke.
A trading slump has taken a toll on Morgan Stanley. The announcement came as Morgan Stanley reported Thursday that its quarterly profit fell 10 percent. Morgan Stanley, which is the smallest of the big U.S. banks, reported a profit of $2.2 billion, or $1.23 a share, on $10.2 billion in revenue, both down from a year ago.
It was the last big U.S. bank to report earnings in a quarter that exposed weaknesses in Wall Street's investment bank and trading businesses. The wealth business, which contributes 44% of Morgan Stanley's revenue, rose 1.9% to $4.40 billion from a year earlier. The bank reported pre-tax profit margin of 28.2% for the business, just above the high end of its 26% to 28% target.
Shares of the investment banking and wealth management giant opened lower after the report but quickly stabilized around a key level.
(Bloomberg) -- Morgan Stanley shares swung to a gain of as much as 1.2% after declining during pre-market trading on Thursday, after the bank reported second-quarter results. Earnings per share and wealth management revenue beat estimates, while equities and fixed income trading revenue missed.Other big banks rose in early trading, too, as 10-year Treasury yields inched up a few basis points to 2.071%. The KBW Bank Index rose about 0.4%, led by U.S. Bancorp and trust banks State Street Corp. and BNY Mellon Corp. Bank of America Corp. rallied about 0.9%, while JPMorgan Chase & Co. and Citigroup Inc. both rose about 0.6%.Here’s a sample of analyst commentary:Evercore ISI, Glenn SchorrMorgan Stanley’s results were “stable but a little lethargic,” Schorr wrote in a note. “While it’s never fun to see double-digit declines in M&A, debt underwriting, FICC and equities, the stability and underlying growth of the franchise was still able to shine through as strong equity underwriting, investment management and wealth management trends led the way.”Schorr flagged positives including an approximate 2% drop in total expenses compared to last year; gains in institutional and wealth management loans of 5% and 6%, and an increase in total loans and commitments of 4%.Credit Suisse, Susan Roth KatzkeKatzke in a note saw pluses and minuses in Morgan Stanley’s results: Earnings per share topped estimates, with revenue upside from Tradeweb and investing gains, she said, though she also noted that the EPS beat was tax-rate driven. FICC fell short, while investment banking beat, and equities “was in line and similar to the peer group experience.”And, while the absolute dollar amount of expenses topped her forecast, firm-wide efficiency at 71.7% was better-than-expected.Wolfe, Steven Chubak“Overall a good result, but questions concerning the outlook may dampen optimism,” Chubak wrote in a note.Key highlights were better wealth margins, which topped 28% and exceeded the upper bound of the bank’s 26%-28% target range, along with “good expense discipline,” he said. Disappointments included weaker investment banking and trading results, which trailed peers, and a worse-than-expected 10% sequential decline in wealth management net interest income.Opimas CEO, Octavio MarenziMorgan Stanley beat expectations in the quarter only by “papering over weakness in its Investment Banking and Sales & Trading units with strong returns on Morgan Stanley’s principal investments,” Marenzi said via email.A continued reduction in expenses points to a “tightly run ship,” he said, but, “in coming quarters, the bank will need to bolster top-line growth in its core businesses. The bump from principal investments will be hard to replicate.”To contact the reporter on this story: Felice Maranz in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Morgan Stanley reported a 10% fall in quarterly profit on Thursday as low market volatility crimped trading and advisory revenue. The bank said earnings attributable to Morgan Stanley fell to $2.20 billion, or $1.23 per share, in the second quarter ended June 30, from $2.44 billion, or $1.30 per share, a year ago.
(Bloomberg) -- Morgan Stanley, the biggest stock-trading shop on Wall Street, is losing some of its lead.The company posted a 14% drop in equities-trading revenue, the steepest decline among major U.S. banks, as it cited lower client balances in its prime-brokerage business. While the firm had a surprise jump in wealth-management fees, the trading slump caused overall revenue to fall.Trade disputes and other geopolitical risks have weighed on stock clients, who’ve largely stood on the sidelines. Morgan Stanley last year elevated Ted Pick, who once led equities, to oversee all its traders and investment bankers, making him a candidate to one day become chief executive officer. He enjoyed breakthrough results last year, but said he’s led the business with “high levels of paranoia” this year because “there are one or two competitors” who are “coming after you.”Equities revenue slumped to $2.13 billion in the second quarter, compared with the $2.27 billion average estimate of analysts in a Bloomberg survey. That was still the highest total among banks, but comes after rival Goldman Sachs Group Inc. reported a surprise jump, booking $2.01 billion of stock-trading revenue in the period.“We’re No. 1 in the world, and we had a very strong quarter. Some of our competitors are coming from a weaker position from a year ago,” Chief Financial Officer Jon Pruzan said in an interview. “It looks like the wallet’s down coming off a strong first half last year, and we would expect to maintain our market share in this type of environment.”Morgan Stanley shares rose 0.6% to $44.05 at 9:33 a.m. in New York. They’ve gained 11% this year.Fixed-income trading also dropped more than rivals in the second quarter, slipping 18%, compared with analysts’ estimates of a 7% decline. Investment banking had a drop across deals and underwriting for debt that was worse than expected, while equity underwriting surpassed estimates. Pruzan said the deals pipeline is “healthy” and the firm is seeing more activity in leveraged finance.JPMorgan Chase & Co., a major rival in the equities business, earlier this week posted a 12% slump in that unit, but said separately that its unit that services hedge funds had balances reaching an all-time high. Prime brokerage has been a competitive arena for investment banks, and the industry faces major changes as Deutsche Bank AG exits the business. Pruzan said Morgan Stanley’s balances have climbed steadily since market turmoil in December caused clients to scale back.“Our balances are up, but it’s more of a subdued up than sort of the animal spirits you would generally characterize in this type of environment,” Pruzan said. “There’s not a lot of conviction in that space right now.”More on Morgan Stanley’s second-quarter results:Wealth management posted a surprise jump in revenue, and generated a 28% profit margin.Earnings per share of $1.23 beat analysts’ estimates of $1.15.Expenses across the firm fell to $3.65 billion from $3.9 billion a year earlier. Chief Executive Officer James Gorman said on a conference call Thursday that Morgan Stanley isn’t planning further expense-cut efforts. “I certainly don’t think it’s a time to panic,” he said.(Updates share price in sixth paragraph.)To contact the reporter on this story: Sonali Basak in New York at email@example.comTo contact the editors responsible for this story: Michael J. Moore at firstname.lastname@example.org, Daniel Taub, Dan ReichlFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wall Street's main indexes were set for a flat open on Thursday as investors awaited more developments around trade, while Netflix posted a surprise drop in U.S. subscribers, kicking off earnings for the FAANG group of stocks on a sour note. Streaming pioneer Netflix Inc sank 10.4% premarket and was on pace to open at its lowest level since late-January, as it also missed targets for new subscribers overseas at a time when it has staked its future on global expansion. Trade worries have been weighing on markets for the last few weeks and the disappointing earnings so far have just amplified that pressure, Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, said.
(Adds details on wealth management, investment banking) July 18 (Reuters) - Morgan Stanley reported a drop in quarterly profit but beat analysts' expectations on slim gains in its wealth management business and lower expenses. The results capped earnings for big U.S. banks and underscored weakness in Wall Street-focused businesses in a quarter marked by lower market activity due to trade tensions and rising bets of a cut in interest rates. Main Street consumer lending, however, fared https://reut.rs/2LXqe5P well in the quarter as a healthy U.S. economy fuelled consumer spending and loan growth. Revenue from Morgan Stanley's wealth management business rose 1.9% to $4.40 billion from a year earlier, and accounted for 43% of total revenue.
Shares of Morgan Stanley gained 0.6% in premarket trading Thursday, after the investment bank reported a second-quarter profit, revenue and net interest income that beat expectations, as growth in its wealth and investment management businesses helped offset declines in its sales and trading businesses. Net income fell to $2.20 billion, or $1.23 a share, from $2.44 billion, or $1.30 a share, in the year-ago period. The FactSet EPS consensus was $1.14. Net revenue fell 3% to $10.24 billion, but was above the FactSet consensus of $9.99 billion, as net interest income increased 14% to $1.03 billion to beat expectations of $992.9 million. Sales and trading (S&T) revenue declined 12%, as equity S&T revenue fell 14% to $2.13 billion to miss the FactSet consensus of $2.20 billion and fixed income S&T revenue declined 18% to $1.13 billion to miss expectations of $1.35 billion. Separately, the bank said the quarterly dividend was raised to 35 cents a share from 30 cents. The stock has advanced 10.4% year to date through Wednesday, while the SPDR Financial Select Sector ETF has rallied 16.9% and the S&P 500 has climbed 19.1%.
Morgan Stanley said second-quarter profit tumbled 9% from a year earlier to $2.25 billion. Earnings per share were $1.23, exceeding the $1.14 average estimate of Wall Street analysts.
overshadowed robust second-quarter results at Morgan Stanley, as investors fret over an impending hit to earnings at the bank’s wealth management division. The smallest of the big six drew a curtain on the US banks earnings season by reporting revenues of $10.2bn in the second quarter of this year, down 3 per cent year-on-year but better than the $9.99bn expected by analysts in Factset’s consensus forecasts. Shares in the bank rose 1 per cent to $44.21.
U.S. stocks were mixed Tuesday afternoon as investors digested a wave of signals from officials over U.S.-China trade relations and monetary policy, along with an influx of corporate earnings results and economic data.
A senior Goldman Sachs banker has highlighted to colleagues the role played by rival Morgan Stanley in failed Hong Kong IPOs following the collapse on Friday of Budweiser APAC's $9.8 billion initial public offering, according to an internal email seen by Reuters. On Friday AB InBev called off the Hong Kong listing of its Asia Pacific brewing business, that was being managed by Morgan Stanley and JPMorgan, citing several factors, including prevailing market conditions. A further 11 banks were listed as global coordinators and bookrunners but Goldman had no role on the deal.
Citigroup beat estimates with some help from its consumer cards business and a trading platform's IPO, but can other big banks rely on the same help in their earnings this week?