Morgan Stanley shares jump 6% as bank's earnings top estimates on record wealth management revenue
Publishing timestamp: 2023-01-17 10:00:49
Summary
Morgan Stanley reported fourth-quarter earnings that exceeded Wall Street expectations, boosted by record wealth management revenue and growth at its trading business. Net income fell from year ago, but was helped by higher interest rates and bank lending growth. Investment banking suffered a big slowdown due to a decline in global equity underwriting volumes and lower completed M&A transactions. Shares of Morgan Stanley rose more than 6% in early trading after results.
Sentiment: POSITIVE
Tickers: MS,
Keywords: earnings, stock markets, wall street, business news, breaking news: earnings, breaking news: markets, morgan stanley, investment strategy, breaking news: business, markets,
Source: https://www.cnbc.com/2023/01/17/morgan-stanley-ms-earnings-q4-2022.html