Morgan Stanley beat analysts' estimates for a quarterly profit on Wednesday...
- Morgan Stanley beat analysts’ estimates for a quarterly profit on Wednesday on gains in its wealth management business and lower expenses, sending its shares up 3 percent.
Revenue from the wealth management unit rose slightly in the first quarter, bouncing back from a drop in the preceding quarter, and was the only bright spot in an otherwise bleak report. Trading for Morgan Stanley, as with other large Wall Street banks, was weak. Revenue from sales and trading fell 15 percent to $3.74 billion, with equities trading slipping 21 percent.
Rival Goldman Sachs Group Inc on Monday reported an 18 percent drop in overall trading, with equities slipping 24 percent.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morgan Stanley leans on wealth management to beat estimatesMorgan Stanley reported a 9 percent drop in quarterly earnings on Wednesday, but...
Read more »
Morgan Stanley beats profit estimates as wealth management and bond-trading revenue outperformMorgan Stanley reported first-quarter earnings-per-share of $1.39 today, beating Wall Street estimates.
Read more »
Morgan Stanley takes lemons, makes weak lemonadeJames Gorman’s bank took a hit from weak equities trading, as did rivals. Its advisory business fared worse than theirs, and fixed-income trading did only a little better. What helped was decent wealth-management profit, cost cuts, and comparison with the preceding poor quarter.
Read more »
Morgan Stanley, Goldman Sachs, and all 27 other banks working on Uber's mega-IPORBC Capital Markets, JMP Securities, Raymond James, and others managed to make it on the front page of both Lyft and Uber's coveted 2019 IPOs.
Read more »
Morgan Stanley is set to report first-quarter earnings — here's what the Street expectsMorgan Stanley is the last of the six largest U.S. banks to report first-quarter earnings.
Read more »
Citi downgrades Morgan Stanley: 'We'd rather be on the sidelines'Citi downgraded Morgan Stanley to neutral from buy on Thursday, saying the stock is 'fairly valued.'
Read more »
Breakingviews TV: Wealth hedgeMorgan Stanley capped a weak earnings season for investment banks. James Gorman’s shop suffered a bigger slump in core advising and underwriting than peers, but John Foley says a humming wealth-management arm helped it deliver a better return on...
Read more »
Stocks making the biggest moves premarket: Netflix, IBM, PepsiCo, Morgan Stanley, Boeing & moreSome of the names on the move ahead of the open.
Read more »
Here are the biggest analyst calls of the day: Morgan Stanley, J.M. Smucker, Snap, Yelp & moreHere are the biggest calls on Wall Street on Thursday
Read more »