Morgan Stanley stock is higher Wednesday after a strong quarterly earnings report, but CEO James Gorman told CNBC it's no time for "victory laps" at the bank quite yet.
The major Wall Street banks posted solid quarterly results, with most beating analysts' expectations for earnings and revenue. The reports come after a painful first quarter, where big banks' trading and banking teams saw performance hammered by a volatile market.
"I don't get too excited,"Gorman said in an interview on CNBC after Morgan Stanley soundly beat earnings and revenue expectations for its second-quarter performance. On the other hand, "I don't get too down" when the bank struggles, he added.