Morgan Stanley’s stock outpaced gains in other financial stocks Thursday, after the bank and broker forecast a robust flow of deals as it beat both profit and revenue expectations for the latest quarter.
Morgan Stanley (MS) reports its highest quarterly revenue in over 15 years, driven by strong performance in Wealth and Investment Management, while navigating geopolitical and regulatory hurdles.
Morgan Stanley turned in $3.7 billion of profit in the fourth quarter, up 147% from a year earlier and exceeding analysts’ estimates of $2.7 billion. The New York-based investment bank posted per-share earnings of $2.
Analyst Daniel Fannon of Jefferies maintained a Buy rating on Morgan Stanley (MS – Research Report), boosting the price target to $151.00.Stay
Profits at Bank of America (BAC) and Morgan Stanley (MS) more than doubled in the fourth quarter, signaling a strong 2024 for Big Banks. Stephen Biggar, director of financial services research at Argus Research,
Morgan Stanley reported robust earnings surpassing market expectations, powered by significant gains in revenue and income.
Major U.S. indexes were little changed at midday Thursday after Wednesday's big gains powered by strong bank earnings and a softer-than-expected inflation report.
Shares of Morgan Stanley gained in early trading Thursday, after the bank and broker beat both profit and revenue expectations for the latest quarter, fueled by strength in the equity and bond trading businesses.
Morgan Stanley easily beat fourth-quarter profit and revenue estimates on strong equity trading and IPO activity.
With a TikTok ban potentially set to take effect in the U.S. on Sunday, other social media platforms could compete for its users’ attention, analysts at Morgan Stanley said.