International Courant
Morgan Stanley CEO James Gorman speaks in New York, Might 6, 2014.
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Morgan Stanley reported its second-quarter outcomes forward of the opening bell Tuesday.
This is what the corporate reported in comparison with what Wall Road anticipated, based mostly on an analyst survey by Refinitiv:
Earnings: $1.24 per share, will not be corresponding to anticipated $1.15 per share Income: $13.46 billion versus anticipated $13.08 billion
Beneath CEO James Gorman, Morgan Stanley’s reliance on asset administration has contributed to secure earnings and valuation relative to friends. Gorman, who took over the corporate in 2010, mentioned in Might that he was making ready to step down inside a yr, setting off a succession race on the Wall Road powerhouse.
Shares of the corporate are up barely this yr, in comparison with the roughly 20% drop within the KBW Financial institution Index.
On Friday, JPMorgan Chase, Citi group And Wells Fargo every reported earnings that exceeded analyst expectations at larger rates of interest. Goldman Sachs rounds up the income of the foremost banks on Wednesday.
This story is evolving. Test again later for updates.
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