My Writings. My Thoughts.

Monday July 20, 2015

// July 20th, 2015 // Comments Off on Monday July 20, 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).

Thursday July 16, 2016

// July 16th, 2015 // Comments Off on Thursday July 16, 2016 // Daily News

Citi posts highest profit in 8 years as costs plunge

CNBC.com

Citigroup delivered quarterly earnings that topped analysts’ expectations on Thursday, its highest quarterly profit in eight years as restructuring efforts and cost cuts paid off and legal expenses plunged.
Net income rose to $4.85 billion, or $1.51 per share, in the second quarter ended June 30 from $181 million, or 3 cents per share, a year earlier, when the bank was hit by a $3.8 billion legal charge.
Adjusting for legal costs and some accounting items, Citi’s net income rose 18 percent to $4.65 billion, or $1.45 per share, from $3.93 billion, or $1.24 per share, a year earlier.
Revenue rose to $19.5 billion from $19.38 billion a year ago.
Wall Street expected Citigroup to deliver quarterly earnings per share of $1.34 on $19.11 revenue, according to consensus estimates from Thomson Reuters.
Shares of Citigroup rose in premarket trading following the report. (Get the latest quote here.)
Citigroup earnings follow results from a few other big banks. Earlier this week, JPMorgan Chase beat earnings estimates while Wells Fargo met forecasts.
The majority of analysts rate Citigroup as a “buy,” according to FactSet. During the past year, shares have risen 15 percent, outperforming the S&P 500 financials sector, which has risen roughly 10 percent.
Scotiabank announced on Tuesday it would be acquiring Citigroup’s retail and commercial banking operations in Panama and Costa Rica, pending regulatory approval.
While Citigroup will continue to operate in these countries, the bank hopes to focus more on its Corporate and Institutional Banking Business and International Wealth Management Services, maximizing its global reach and lead in those segments.

Today’s Inspiration

Go with the Flow

by Joyce Meyer

Brethren, for this reason, in [spite of all] our stress and crushing difficulties we have been filled with comfort and cheer about you [because of] your faith (the leaning of your whole personality on God in complete trust and confidence).
– 1 Thessalonians 3:7

Go with the flow, and stop being anxious about things that may never happen. If you really trust God, you don’t need a backup plan. Faith means that you have peace even when you don’t have all the answers.

Life will always be stressful if you constantly try to rearrange it. For example, getting upset in a traffic jam doesn’t get you out of it any sooner. But planning for obstacles will inspire you to leave a little earlier for your appointments and keep you from hurrying. Grow in wisdom, and place high priority on keeping your peace in spite of any jams you get into today.

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