Morgan Stanley’s profit beat expectations as wealth management revenue climbed in the first quarter, offsetting slumps in investment banking and trading. The bank earned $1.70 per share, beating analysts’ average estimate of $1.62 per share, according to Refinitiv data. But its shares fell 1 percent to $88.92 in early trading on Wednesday as investment banking…
Morgan Stanley Beats Estimates With Wealth Business Growth, but Shares Fall
April 19, 2023
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Morgan Stanley Warns of Something ‘Worse Than Great Financial Crisis’ for Commercial Real Estate Market
Morgan Stanley analysts have issued a stark warning regarding the commercial real estate market in the wake of banking turmoil after the collapse of Silicon Valley Bank (SVB) and Signature Bank last month. In a weekly Global Investment Committee note published on April 3, Lisa Shalett, chief investment officer for Morgan Stanley Wealth Management, noted that the commercial real estate sector faces…
Morgan Stanley Strategist Warns of ‘Vicious’ Bear Market Phase as Bank Turmoil Challenges Investors
March 20, 2023
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Morgan Stanley’s top investment officer has warned that investors shouldn’t see the bailout of Silicon Valley Bank’s uninsured depositors as a reason to get bullish on stocks, predicting a “vicious” final stretch to the current bear market marked by sharp price declines and few opportunities to hedge portfolios against losses. The lightning-fast collapses of Silicon…
Morgan Stanley Warns Investors to Sell Stock Rebounds That May Follow Government Intervention in SVB Collapse
March 13, 2023
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Morgan Stanley’s top investment officer is advising investors to sell any rebounds in stock prices that may follow regulatory support measures after the collapse of Silicon Valley Bank (SVB) last week. “We suggest selling any bounces on a government intervention to quell the immediate liquidity crisis at SVB and other institutions until we make new…
Latest Market Rally ‘Bear Market Trap,’ S&P 500 Predicted to Decline 25 Percent: Morgan Stanley Strategist
Michael Wilson, Morgan Stanley’s chief U.S. equity strategist, is warning investors not to get caught in the “bear market trap” after seeing the stock market rally during the initial weeks of 2023, and estimated that the market might make a low by spring. According to Wilson, 2023 is off to a “much better start” compared…
Morgan Stanley Profit Beats on Strength in Trading Business
Morgan Stanley reported a smaller-than-expected 41 percent drop in fourth-quarter profit on Tuesday as the bank’s trading business got a boost from market volatility, offsetting the hit from sluggish dealmaking. Dealmaking was at a virtual halt for most of last year as risk appetite waned sharply in the face of rapidly deteriorating macroeconomic conditions and…
American Banks Prepare for Decline in Profits, 17 Percent Drop Predicted for Top Six Banks in the Fourth Quarter
January 10, 2023
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Big banks in the United States are getting ready to deal with shrinking profits due to factors like an overall difficult economic environment, despite the fact that interest incomes have risen over the past year. JP Morgan Chase, Citigroup, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley are the six largest lenders in…
No Federal Whistleblower Protection for Overseas Workers, Appeals Court Reaffirms
A U.S. appeals court has tossed the retaliation claims brought against Morgan Stanley Asia by the investment bank’s former lawyer, solidifying previous court decisions that a federal whistleblower protection law does not apply to overseas employees of U.S.-based companies. In a unanimous ruling (pdf) released Tuesday, a three-judge penal of the U.S. Court of Appeals…
Morgan Stanley Making ‘Modest’ Job Cuts; CEO ‘Wouldn’t Bet Against’ Musk
NEW YORK—Morgan Stanley is making modest job cuts worldwide, Chief Executive Officer James Gorman said on Thursday, as sluggish deal markets weigh on Wall Street profits. “Some people are going to be let go,” Gorman said at the Reuters NEXT conference, without specifying numbers. “We’re making some modest cuts all over the globe. In most…
Pet Supplies Plus Expands as Americans Splurge on Animals
A specialty store owned by America’s largest privately held pet supplies retailer is boosting its footprint in Tennessee and Texas, as young animal owners continue to fuel growth in the country’s $124 billion pet industry. Pet Supplies Plus, a subsidiary of NASDAQ-listed Franchise Group, Inc., has sold more than two dozen franchises of its Wag…
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