Morgan Stanley (MS) shares slide as pre-tax income impacted by $535m in charges
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Morgan Stanley profit hit by charges, revenue beats estimates
January 16, 2024 7:35 AM ESTBy Manya Saini and Tatiana Bautzer
(Reuters) -Morgan Stanley's shares slid more than 4% after its fourth-quarter profit took a hit from $535 million in charges, though its revenue beat expectations as investment banking rebounded.
Investors were disappointed by the bank's lower-than-expected guidance for wealth management margins on Tuesday, which weighed on shares, said Barclays analyst Jason Goldberg.
Despite the stock decline, "we believe MS is well positioned to benefit from a rebound in investment banking fees while it continues to grow client assets," Goldberg added.
Wealth management margins are currently in the mid-20% range and... More
Morgan Stanley (MS) Q4 Revenue Tops Consensus
January 16, 2024 7:34 AM EST(Updated - January 16, 2024 7:34 AM EST)
Morgan Stanley (NYSE: MS) reported Q4 EPS of $0.85, may not compare to the analyst estimate of $1.08. Revenue for the quarter came in at $12.9 billion versus the consensus estimate of $12.79 billion.
Pre-tax income for the fourth quarter includes $535... More