Published: Wed, October 18, 2017
Markets | By Noel Gibbs

Morgan Stanley smashes estimates on strength in wealth management

Morgan Stanley smashes estimates on strength in wealth management

Morgan Stanley chief executive James Gorman said: "Our third quarter results reflected the stability our wealth management, investment banking and investment management businesses bring when our sales and trading business faces a subdued environment".

Adjusted earnings was 88 cents per share and topped estimates of 81 cents, according to Thomson Reuters. The stock of Morgan Stanley (NYSE:MS) has "Equal Weight" rating given on Thursday, October 20 by Barclays Capital.

Morgan Stanley also reported a almost 9 percent increase in net wealth management revenue to $4.22 billion, slightly better than the $4.21 billion projected by FactSet.

Analysts await MEDNAX Inc (NYSE:MD) to report earnings on October, 26. It's also volatile: While the business generated nearly one-quarter of the bank's revenue in the third quarter, it produced less than 2 percent of firmwide revenue in the first three months of 2016.

Nintendo wants more violent and risque games for the Switch
Yes, [the Nintendo Switch port of Steep is] still planned, it's still something we have in our mind and we are focusing on. These will still be limited by the hardware available with the hybrid console, which is behind both the PS4 and Xbox One.


Shares of Morgan Stanley (MS) opened at 48.30 on Monday. The stock has a market capitalization of $89.88 billion, a PE ratio of 14.02 and a beta of 1.61. The company's 50-day moving average price is $47.26 and its 200 day moving average price is $45.05.

National Pension Service increased Morgan Stanley (MS) stake by 6.24% reported in 2017Q2 SEC filing.

BMO Capital Markets raised their price objective on shares of Morgan Stanley from $58.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, July 20th. Morgan Stanley had 76 analyst reports since July 21, 2015 according to SRatingsIntel. Morgan Stanley said the strong performance in underwriting played a big role here.

For Morgan Stanley, which set a goal of taking at least US$1bn in revenue per quarter from FICC, the result reinforced its disciplined approach to FICC trading.

Veteran British actor Roy Dotrice dies aged 94
He was also honoured by Queen Elizabeth II in 2008 when he was made an Officer of the Most Excellent Order of the British Empire. Dotrice was also a wireless operator and an air gunner with the Royal Air Force prior to his acting career.


Among 12 analysts covering Bojangles Inc (NASDAQ:BOJA), 6 have Buy rating, 0 Sell and 6 Hold. The stock now has a consensus rating of "Buy" and a consensus target price of $49.39. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued. Shares have hit a new 52-week high after reaching $49.87 during recent trading action. The shares were sold at an average price of $46.68, for a total transaction of $1,202,803.56.

The stock is among the better-performing financial stocks in 2017. The disclosure for this sale can be found here.

Several other large investors have also made changes to their positions in the company. Westpac Banking Corp grew its stake in shares of Morgan Stanley by 28.5% during the first quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider's stock worth $101,000 after buying an additional 190 shares during the last quarter. Westpac Banking Corp grew its holdings in shares of Morgan Stanley by 28.5% in the first quarter. Smithfield Trust Co. now owns 3,690 shares of the financial services provider's stock valued at $164,000 after purchasing an additional 42 shares in the last quarter.

The business of managing money always promised to insulate Morgan Stanley from swings in trading revenue tied to the whims of hedge-fund clients. This buyback authorization authorizes the financial services provider to reacquire up to 6.1% of its shares through open market purchases. Finally, Compass Point reaffirmed a "sell" rating and set a $38.00 price target (up previously from $34.00) on shares of Morgan Stanley in a research report on Monday, September 25th. SG Americas Securities LLC now owns 206,426 shares of the financial services provider's stock valued at $8,843,000 after purchasing an additional 1,773,467 shares during the period.

Anthony Scaramucci Apologizes For Much-Derided Holocaust Twitter Poll: 'I Take Responsibility'
The Anti-Defamation League blasted the Scaramucci Post for asking how many Jews died at the hands of Adolf Hitler's deadly regime. He lasted just 10 days in his White House job during which he went on a foul-mouthed rant to a journalist which was made public.


Like this: