PREVIEW: Morgan Stanley rises with second-quarter results on deck
** Shares of Morgan Stanley MS.N rise ~1.6% to $105.71 ahead of the Wall Street giant's Q2 results due before the bell on Tuesday
** Morgan Stanley expected to report quarterly EPS of $1.65 vs $1.24 a year-ago, according to LSEG data
** Revenue expected to climb ~6% to $14.3 bln in the quarter
** Analyst and investor focus is on the continued recovery of investment banking after a two-year slump due to high interest rates, market volatility and geopolitical turmoil
** "We see investment banking momentum as having legs into 2025, driving our positive view" - Analysts at BofA Global Research, in an earnings preview note
** Bank's wealth business also under scrutiny as investors weigh avenues for growth beyond its traditional strengths of underwriting, advisory and trading
** Over the five previous reporting quarters, MS has missed analysts' expectations for profit once and beaten four times - LSEG data
** Closest rival Goldman Sachs GS.N reported on Monday a Q2 profit that more than doubled and beat analysts' estimates; GS shares hit record high after results
** Results from MS and second largest U.S. lender Bank of America BAC.N on Tuesday are set to wrap up Q2 earnings season for Wall Street's biggest banks
** As of last close, MS shares up 11.6% YTD, underperforming the benchmark S&P 500 .SPX up 17.7% over the same period
Reporting by Manya Saini in Bengaluru
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
