MS - Morgan Stanley

NYSE - NYSE Delayed Price. Currency in USD
54.55
-0.98 (-1.76%)
At close: 4:05PM EST
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Previous Close55.53
Open55.53
Bid54.26 x 2200
Ask54.54 x 1400
Day's Range54.10 - 55.61
52 Week Range38.76 - 57.57
Volume9,543,370
Avg. Volume9,198,953
Market Cap86.953B
Beta (5Y Monthly)1.38
PE Ratio (TTM)10.51
EPS (TTM)5.19
Earnings DateApr 14, 2020 - Apr 19, 2020
Forward Dividend & Yield1.40 (2.52%)
Ex-Dividend DateJan 29, 2020
1y Target Est61.50
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    Goldman's Anti-Bro Pledge Isn't Just a Stunt

    (Bloomberg Opinion) -- It’s easy to be cynical about the good intentions of a company caught up in one of the biggest frauds in history: the 1MDB scandal in Malaysia. Yet Goldman Sachs Group Inc.’s new stance on boardroom diversity shows how even the most profit-oriented of finance titans can — when pushed — further the virtues of stakeholder capitalism.Speaking at the World Economic Forum in Davos, where global leaders vowed to save humanity from climate change, Goldman’s chief executive officer, David Solomon, set forth a vision for his bank’s role in imposing better governance on its clients. From July it won’t manage the initial public offerings of American and European companies unless they have at least one non-white or non-straight male board candidate, Solomon said (the focus will be on women). In 2021, he’s going to “move toward… requesting two.”The move carries weight. Goldman is one of the top three IPO underwriters of the past decade, alongside Morgan Stanley and JPMorgan Chase & Co. It has an authority that wannabe public companies won’t be able to ignore.Going public is one of the critical junctures in a company’s history. It’s the moment when a century-old, family-owned widget maker, an upstart venture capital-backed tech unicorn, or a state-controlled behemoth, sets out on a course that will define its role in society for years to come. Getting the composition of its leaders right at the start sets the standard for what a company expects of itself just as it embarks on what’s often a period of rapid growth.Tech startups especially have been criticized for fostering a “bro’” culture that can be a hostile place for women, exemplified by Uber Technologies Inc. under the previous leadership of Travis Kalanick. But it’s not just about staff and society; shareholders will also benefit, according to Solomon. Companies with more diverse boards score better on measures of sustainability — an issue that’s increasingly important for asset managers. Broader representation has also been associated with higher profits and performance, although the empirical data is mixed.Goldman’s reputation could also use a little sprucing up, not only from the probes into its role raising money for the Malaysian investment fund 1MDB, but also around the subject of IPOs. It’s no coincidence that Solomon’s declaration follows two listing flops of epic proportions. Last year, his bank was one of the IPO underwriters for WeWork, which only added a female director after its first prospectus was pilloried. The deal was pulled eventually in part because of lingering governance concerns.International investors also spurned the biggest IPO of all time, Saudi Aramco, in part over concerns about controls and governance. Riyadh punished Goldman and its ilk by relegating them to the second-tier behind local banks, paying them considerably less after scrapping roadshows outside the Middle East.The two deals were embarrassments that Goldman will be keen to move on from by putting a more positive gloss on this part of the empire. What’s more, it’s unlikely to lose out on any big IPO business given the relatively modest ambition of its pledge. Of the listings managed by Goldman in the past two years in the U.S. and Europe, fewer than 10% had a board lacking a diverse candidate (many countries already enforce quotas). Half of the bank’s top-10 IPOs in 2018 and 2019 took place in Asia and the Middle East, regions not covered by Solomon’s promise. By flagging the more ambitious two-person target for 2021 now, Goldman is giving clients time to prepare. It’s also shrewdly reading where the “environmental, social and governance” trend is headed. Its first mover advantage may win it admirers among more enlightened startup companies and executives who have been weighing direct listings as alternatives to costly IPOs.It will take time for the “vampire squid” to shed its image as a pure opportunist, especially with 1MDB rumbling on. But whatever the motivation, pushing for greater diversity ups the collective pressure on other financiers to use their power for good. Over to you Morgan Stanley and JPMorgan.To contact the author of this story: Elisa Martinuzzi at emartinuzzi@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Elisa Martinuzzi is a Bloomberg Opinion columnist covering finance. She is a former managing editor for European finance at Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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    Morgan Stanley Launches CashPlus: A Modern Alternative to Banking that Offers Better Ways to Manage Cash Activities

    Morgan Stanley today announced the launch of CashPlus, a new brokerage account that offers clients a modern alternative to banking. The CashPlus Account replaces the Premier Cash Management program. CashPlus, the next generation of cash management at Morgan Stanley, puts a client’s cash activities front and center, while offering a wide range of benefits and a seamless digital experience.

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    Bridgewater Co-CIO Bob Prince Says Boom-Bust Cycle Is Over

    (Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Bob Prince, who helps oversee the world’s biggest hedge fund at Bridgewater Associates, says the boom-bust economic cycle is over.The tightening of central banks all around the world “wasn’t intended to cause the downturn, wasn’t intended to cause what it did,” Prince, the co-chief investment officer of Bridgewater, said in an interview with Bloomberg TV at the Swiss resort of Davos. “But I think lessons were learned from that and I think it was really a marker that we’ve probably seen the end of the boom-bust cycle.”The boom-bust cycle refers to economic expansion and contraction that repeats itself. However, central bank intervention since the financial crisis and monetary easing has disrupted that cycle and has helped fuel the longest-running bull market in stocks. That has led the hedge fund industry to struggle to match gains of passive funds tracking indexes.The Westport, Connecticut-based investment firm suffered its first annual loss since 2000 in its most prominent fund--Bridgewater Associates Pure Alpha II--last year. The fund lost 0.5%, only the fourth annual decline since starting in 1991. Many of its peers, by comparison, posted some of their best returns since 2008.Prince, who oversees Bridgewater’s $160 billion in assets with Ray Dalio and Greg Jensen, said that performance this year has been so far good for the firm. He was among at least 119 billionaires converging on Switzerland this week to join bankers, politicians and other grandees for their annual pilgrimage to the Alps for the World Economic Forum.Earlier this week, Dalio urged investors not to miss out an opportunity to benefit from strong markets. “Cash is trash,” he said in a CNBC interview in Davos on Tuesday. “There’s still a lot of money in cash.”Although Dalio said he believes the Federal Reserve can no longer stimulate the U.S. economy, he doesn’t think there will be a downturn this year.Morgan Stanley Chief Executive Officer James Gorman took issue with the suggestion that the patterns of booms and busts are done.“You’d have to kill fear and greed for that to be true,” Gorman said on Bloomberg TV in Davos. “There’s a reason we have cycles going back thousands of years and I don’t think that stops.”(Updates with Gorman comment in final paragraph.)\--With assistance from Jonathan Ferro and Tom Keene.To contact the reporter on this story: Nishant Kumar in London at nkumar173@bloomberg.netTo contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Patrick HenryFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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    Morgan Stanley Stock Surged Last Week. Analyst Says Enough Is Enough.

    The shares (ticker: MS) soared 6.6% on Thursday after the investment bank announced aggressive two-year targets and reported better-than-expected results. “With the recent outperformance and limited upside to earnings, we do not see enough upside to justify a Buy rating on the stock,” Keith Horowitz, an analyst at Citigroup, wrote in a note Tuesday, downgrading the shares to Neutral. Morgan Stanley said last week that it expects to achieve a return on tangible equity in the range of 13% to 15% in the next two years, a projection Horowitz says is achievable.

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