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Monday July 20, 2015

// July 20th, 2015 // Daily News

Morgan Stanley posts earnings of 79 cents a share vs. 74 cents expected
CNBC.com

Morgan Stanley delivered quarterly earnings and revenue that topped analysts’ expectations on Monday.
Shares of Morgan Stanley moved higher in premarket trading following the announcement. (Click here to track its stock.)
Morgan Stanley, the last big U.S. bank to report second-quarter earnings, said its net income from continuing operations applicable to the company fell to $1.67 billion, or 85 cents per share, from $1.82 billion, or 92 cents per share, a year earlier.
The bank’s profit in the year-earlier quarter was boosted by a one-time tax benefit of $609 million.
Excluding items, the investment banking behemoth posted second-quarter earnings of 79 cents per share.
Revenue rose to $9.6 billion from $8.52 billion a year ago.
Wall Street expected the banking giant to post quarterly profit of 74 cents a share on revenues of $9.1 billion, according to a Thomson Reuters consensus estimates.
Consolidated net revenue rose 13 percent to $9.74 billion, with wealth management revenue increasing 4.7 percent to $3.88 billion.
Morgan Stanley is focusing on stable businesses such as wealth management and backing away from volatile businesses such as bond trading as a way to free up capital and comply with stricter regulations.
Morgan Stanley is the latest big bank to report quarterly earnings. On Thursday, Goldman Sachs posted sub-par quarterly profits, citing a large litigation charge. JPMorgan Chase, however, topped analysts expectations with the help of lower expenses.
Last quarter, Morgan Stanley handily beat earnings expectations amid higher revenue from trading bonds and equities.

Today’s Inspiration

Whom God Loves, He Chastens

by Joyce Meyer – posted July 20, 2015

For the Lord corrects and disciplines everyone whom He loves, and He punishes, even scourges, every son whom He accepts and welcomes to His heart and cherishes.
– Hebrews 12:6

When we need correction—and there are times when we all need it—I believe it is the Lord’s first desire to correct us Himself. Whom the Lord loves, He chastens. God’s correction or chastisement is not a bad thing; it is always and ultimately only for our good.

The fact that it works toward our good does not mean it always feels good or that it is something we enjoy immediately: For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it [a harvest of fruit which consists in righteousness—in conformity to God’s will in purpose, thought, and action, resulting in right living and right standing with God]. (Hebrews 12:11)

Correction is probably one of the most difficult things for most of us to receive, especially when it comes through another person. Even if we have problems, we don’t want others to know we have them. I believe God prefers to correct us privately; but if we won’t accept His correction or if we don’t know how to allow Him to correct us privately, He will correct us publicly, using whatever source He needs to use. We may not always like the source God chooses to use, but it is wisdom to accept correction in order to avoid “going around the mountain one more time” (see Deuteronomy 2:3).