NEW YORK ( TheStreet) -- Morgan Stanley blew away analyst forecasts Monday on growth in trading activity led by equities. Earnings were $1.18 per share and revenue was $9.9 billion, though after some accounting adjustments, those figures are 85 cents a share and revenue was $9.78 billion respectively. Analysts were targeting 78 cents a share for the quarter and revenue of $9.17 billion, a slight uptick from $8.93 billion a year ago. Positive first quarter earnings for the big banks have been led by trading. Banks such as J.P. Morgan Chase and Goldman Sachs fared especially well due to the diversity of their trading activity. Morgan Stanley has whittled down its trading business and has focused efforts on traditional asset management. However, Morgan Stanley still performed well in trading, seeing revenue from this division hit $5.3 billion. Equity transactions led the charge for Morgan Stanley followed by improvements in fixed income and commodities trading. Investors and analysts have also been paying attention to Morgan Stanley CFO, Ruth Porat who announced in March that she will be joining Google as their CFO. Porat is expected to remain at Morgan Stanley until the end of this month. She will be replaced by Jonathan Pruzan, the co-head of the Morgan Stanley's global financial institutions group. Morgan Stanley will be hosting a call with analysts at 8:30am EST on Monday morning.
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