{"id":2459,"date":"2021-10-14T08:59:37","date_gmt":"2021-10-14T12:59:37","guid":{"rendered":"https:\/\/liferep.net\/?p=2459"},"modified":"2021-10-14T08:59:37","modified_gmt":"2021-10-14T12:59:37","slug":"thursday-october-14-2021","status":"publish","type":"post","link":"https:\/\/liferep.net\/?p=2459","title":{"rendered":"Thursday October 14, 2021"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\">Morgan Stanley beats estimates on record investment banking and asset management results<\/h1>\n\n\n\n<ul class=\"wp-block-list\"><li>Here are the numbers: Earnings of $1.98 a share vs the $1.68 a share estimate of analysts surveyed Refinitiv.<\/li><li>Revenue: $14.75 billion vs. the $14 billion estimate.<\/li><li>Shares of the bank climbed 2.2% in premarket trading<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.cnbc.com\/quotes\/MS\" target=\"_blank\" rel=\"noreferrer noopener\">Morgan Stanley<\/a>&nbsp;on Thursday topped expectations for third-quarter profit and revenue as the firm posted record results in investment banking and asset management.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are the numbers:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Earnings: $1.98 a share vs the $1.68 a share estimate of analysts surveyed Refinitiv<\/li><li>Revenue: $14.75 billion vs. the $14 billion estimate<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe Firm delivered another very strong quarter, with robust revenues and improved efficiency,\u201d CEO James Gorman said in the release. \u201cWe had standout performance of our integrated investment bank and record net new assets of $135 billion in wealth management.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shares of the bank climbed 2.2% in premarket trading.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Revenue and net income jumped more than 25% from a year ago, aided by Gorman\u2019s acquisitions of E-Trade and Eaton Vance, which bulked up the firms\u2019 wealth and asset management divisions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While rival banks have reported a&nbsp;<a href=\"https:\/\/www.cnbc.com\/2021\/10\/13\/jpmorgan-jpm-earnings-q3-2021.html\">slowdown<\/a>&nbsp;in third-quarter fixed income trading revenue, Morgan Stanley\u2019s strength has traditionally been in its equities franchise, the biggest in the world.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Equities trading revenue jumped 24% from a year earlier to $2.88 billion, exceeding the estimate by more than $500 million. Fixed income revenue dropped 16% to $1.64 billion, edging out the $1.53 billion estimate.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another area that has flourished is investment banking, propelled by robust mergers and IPO activity, and Morgan Stanley is a top player there as well. Rival advisor&nbsp;<a href=\"https:\/\/www.cnbc.com\/quotes\/JPM\" target=\"_blank\" rel=\"noreferrer noopener\">JPMorgan Chase<\/a>&nbsp;posted record investment banking fees in the third quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Morgan Stanley\u2019s investment banking franchise delivered in the quarter, posting a 67% increase in revenue to a record $2.85 billion, exceeding the StreetAccount estimate by more than $600 million, helped by strong mergers advisory fees.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shares of the bank have climbed 44% this year before Thursday, exceeding the 36% rise of the KBW Bank Index.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morgan Stanley beats estimates on record investment banking and asset management results Here are the numbers: Earnings of $1.98 a share vs the $1.68 a share estimate of analysts surveyed Refinitiv.Revenue: $14.75 billion vs. the $14 billion estimate.Shares of the bank climbed 2.2% in premarket trading Morgan Stanley&nbsp;on Thursday topped expectations for third-quarter profit and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2459","post","type-post","status-publish","format-standard","hentry","category-daily-news"],"_links":{"self":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2459"}],"version-history":[{"count":1,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2459\/revisions"}],"predecessor-version":[{"id":2460,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2459\/revisions\/2460"}],"wp:attachment":[{"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}