Jan 17- Morgan Stanley's quarterly profit fell short of expectations as bond trading revenue slumped more than rivals and its wealth management business faltered, sending its shares down more than 5 percent. The bank has pledged that its expansion into wealth management over the past decade would help deliver more stable results. Morgan Stanley also noted...
Sharp market declines in December showed that, while they've made progress diversifying their businesses, big banks like Morgan Stanley are still exposed to the whims of the market.
Jan 17- Morgan Stanley's profit fell short of analyst expectations as trading revenue slumped more than rivals and its wealth management business faltered, sending its shares down more than 5 percent. The bank has pledged that its expansion into wealth management over the past decade would help deliver more stable results. Morgan Stanley also noted the...
*Q4 EPS of 80 cents/ shr misses est of 89 cents/ shr. Jan 17- Morgan Stanley missed analysts' estimates for quarterly profit on Thursday after spikes in volatility in the end of the fourth quarter hurt trading, sending its shares down 5 percent. "2018 was a great year that finished on a disappointing note" Chief Executive Officer James Gorman said on a post earnings call...
Morgan Stanley's two biggest businesses suffered declines amid last year's whipsawing markets.
Oct 17- After another lackluster quarter for bond trading, most Wall Street banks are moving faster to adopt new technology to improve results, but analysts say the winners of the race must grow market share to combat shrinking margins. Last Friday, JPMorgan Chief Executive Jamie Dimon told analysts that results could improve as the bond market doubles in size...
Morgan Stanley tops expectations on the top and bottom lines on strong investment banking results that saw revenues in the division climb 15 percent over the past year.
"At this point, we have not reached a conclusion on the scope of our digital asset offering," Goldman Sachs spokesperson Michael DuVally told Reuters. Bitcoin fell nearly 5 percent to touch five-day low at $6,985 on the Luxembourg- based Bitstamp exchange. In October, Goldman Chief Executive Lloyd Blankfein had tweeted, "Still thinking about Bitcoin.
"At this point, we have not reached a conclusion on the scope of our digital asset offering," Goldman Sachs spokesperson Michael DuVally told Reuters. The Wall Street bank was planning to clear bitcoin futures for some clients as the new contracts were going live on exchanges when the cryptocurrency rocketed to a record high of $16,000 in December.
Morgan Stanley reported second-quarter earnings.
Morgan Stanley gave trading chief Ted Pick added responsibilities over investment banking activities, including merger advice, in a sign he is a leading contender to eventually succeed Chief Executive Officer James Gorman.
Big U.S. banks have lower risk and greater structural advantages than at any time in decades, ValueAct Capital Partners wrote in an investor letter explaining why it took a $1.2 billion stake in Citigroup this year.
A top Morgan Stanley broker was repeatedly accused of violence against ex-wives and girlfriends. Bank managers were told. But he kept his job.
CNBC's Wilfred Frost talks to Morgan Stanley's Chairman & CEO James Gorman from the company's executive women's conference in New York. Gorman talks about women in management, Gary Cohn's resignation and the impact of tariffs.
Automation was just one of the "evolutions" taking place in the financial sector, the chief executive of Morgan Stanley said.
Morgan Stanley Chairman and CEO James Gorman said anybody who thinks bitcoin will be stable is "deluding themselves."
Goldman Sachs is considering a new trading operation focused on bitcoin and other digital currencies
Morgan Stanley CEO James Gorman sees more potential in bitcoin and other digital currencies than his counterpart at JPMorgan.
Beyond just trading of stocks and bonds, there's a much more important growth engine emerging.
The "Squawk on the Street" crew sift through Morgan Stanley's better-than-expected quarterly results.