Morgan Stanley (MS) revenue boosted by wealth management division

Bank of America, Pinterest, Chipotle rise premarket; Morgan Stanley falls

July 18, 2023 8:18 AM EDT

Investing.com -- U.S. futures edged lower Tuesday, with investors digesting a deluge of corporate earnings ahead of the release of retail sales and industrial production data.

Here are some of the biggest premarket U.S. stock movers today:

Bank of America (NYSE: BAC) stock... More

Morgan Stanley profit beats estimates on wealth, shares rise

July 18, 2023 7:33 AM EDT

By Tatiana Bautzer and Mehnaz Yasmin

(Reuters) - Morgan Stanley's profit beat estimates as growth in its wealth management business offset lower trading revenue in the second quarter, and executives expressed optimism about the economic environment.

Morgan Stanley shares rose more than 6%, shrugging off the 14% drop in profits. Excluding one-off items, Morgan Stanley earned $1.24 a share on revenue of $13.46 billion, comfortably beating estimates of $1.15 a share on $13.08 billion revenue, according to data from Refinitiv IBES.

"We ended the quarter overall in a better place, with a better tone," CEO James Gorman said, after the period started... More

Morgan Stanley (MS) Tops Q2 EPS by 1c

July 18, 2023 7:30 AM EDT

Morgan Stanley (NYSE: MS) reported Q2 EPS of $1.24, $0.01 better than the analyst estimate of $1.23. Revenue for the quarter came in at $13.5 billion versus the consensus estimate of $13.03 billion.

James P. Gorman, Chairman and Chief Executive Officer, said, The Firm delivered solid results in a... More

Earnings wave, Novartis guidance, ARK's Twitter stake - what's moving markets

July 18, 2023 5:38 AM EDT

Investing.com -- Investors look ahead to a busy week of earnings, including quarterly results from some of the largest U.S. banks. Meanwhile, drug-making giant Novartis improves its guidance as it eyes a spin-off of its Sandoz generics division later this year, and Cathie Wood says her ARK investment management firm has written down its stake in Twitter.

1. Bank of America, Morgan Stanley on... More

European stocks drift in subdued session; key U.S. earnings due later

July 18, 2023 4:54 AM EDT

Investing.com - European stock markets drifted in subdued trading Tuesday, with investors looking forward to more corporate earnings while worries over the Chinese economic recovery continue to linger.

At 03:20 ET (07:20 GMT), the DAX index in Germany traded 0.1% lower, while the FTSE 100 in the U.K. gained 0.1% and the CAC 40 in France rose 0.1%.

Chinese worries remain

With little in the way of economic data due in Europe Tuesday, worries over the health of the Chinese economy, the world's second-largest, in the wake of its disappointing growth data have... More

Stock market today: Dow rises as banks, tech shine, but telecoms stifle gains

July 17, 2023 4:42 PM EDT

Investing.com -- The Dow closed higher Monday, led by tech and financials as investors looked ahead to more quarterly results from Wall Street banks and other major corporations later this week, though broader market gains were kept in check by a stumble in telecoms.

The Dow Jones Industrial Average rose 0.2%, or 76 points, the Nasdaq was up 0.9%, and the S&P 500 rose 0.3%.

Financials rally ahead of earnings from Bank of America, Morgan Stanley and Goldman Sachs

Financials... More