Trading drives Morgan Stanley’s growth

Trading drives Morgan Stanley’s growth

The investment banking giant Morgan Stanley reported its first quarter earnings. The bank reported 60 percent growth in the first quarter revenues. The Morgan Stanley is currently focusing entirely on the wealth management business in order to provide stability and maintain a steady force of income for the corporation. The wealth management division along with equities showed promising results.

The net revenue of $9.9 billion was reported along with earning per share rate of $1.18, which far above the estimation. The experts expected the bank to earn per share at the rate of 78-cents on revenue of $9.19 billion. The net 10 percent increase in the revenue is also recorded.  The James Gorman, CEO of the Morgan Stanley informed that this has been one of the strongest quarter for the company in many years and the performance is uniform across all the areas. The disciplined expense management along with prudent risk profile are the keys for building platforms for future growth. The equity trading grew the rate of 35 percent, which makes the market value of $2.3 billion this quarter. The trading was the engine of the growth for the corporation. The results may reduce the competition for the Morgan Stanley and this is definitely a serious news for the other investment banking giants like Goldman Sachs and JP Morgan. The heightened volatility in this quarter has affected the businesses of these banks.

The stock market has reacted positively over this development with Morgan Stanley shares rising over 1.5 percent during pre-market trading. Over last one year the share value has increased around 20 percent.

atest Posts

Monsanto Restricts GMO Cotton Seed to India

Monsanto Restricts GMO Cotton Seed to India

Monsanto Co. recently withdrew an application that was seeking regulatory approval for cotton seeds to be sold in India. This took place in the middle of a debate with the government on the subject of royalty fees. According to the spokesperson of Monsanto Co., Christi Dixon, the application was…

More

Brexit vote: Finance ministers meet to discuss impact

Brexit vote: Finance ministers meet to discuss impact

An urgent meeting with Chancellor George Osborne has been called by UK finance ministers from the three devolved governments. This came after Finance Secretaries Derek Mackay from Scotland, Mairtin O Muilleoir from Northern Ireland, and Mark Drakeford from Wales met in Cardiff. The finance ministers…

More

ther posts

Wells Fargo fined for $70 million for mortgage malpractice

Wells Fargo fined for $70 million for mortgage malpractice

The U.S. Comptroller of the Currency fined Wells Fargo on Wednesday due to some malpractice in mortgage services. Between March 2013 and October 2014, according to the regulator, Wells Fargo made some escrow calculation errors. These errors, in some cases, led to incorrect denial modifications. The…

More

What you need to do before you quit your job

What you need to do before you quit your job

Quitting your job is a dream for many, especially if you’ve been unhappy there! In other cases, it may be as simple as moving on to greener pastures: a higher salary, a better position, or a company that is more compatible with your career and personality. Regardless of the scenario, ending…

More

ecents

Strong US Dollar cheers up the economy

Strong US Dollar cheers up the economy

United States labor market is literally booming and the drive of the growth is strong dollar. The Federal Reserve’s monetary policies are working right. The United States currency also cheered the stock markets. If the market continues to boom till September, the increase in the borrowing rate…

More

A Brief Theory on Experimental Finance

A Brief Theory on Experimental Finance

Experimental finance is an interesting branch in the study of finance. The main aim of this tactics is to understand not only the behavior of the market but also that of human behavior in settings that are simulated with relevance towards finance. This part of study is majorly researched based. The…

More

dvertisement

dvertisement