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MS

Morgan Stanley

$32.34

0.545 (1.71%)

, GS

Goldman Sachs

$172.35

3.35 (1.98%)

14:58
10/18/16
10/18
14:58
10/18/16
14:58

On The Fly: What to watch in Morgan Stanley earnings report

Morgan Stanley (MS) is scheduled to report results of its third fiscal quarter before the market open on October 19, with a conference call scheduled for 8:30 am EDT. What to watch for: 1. BETTER TIMES AHEAD: On a post earnings article in July, Barron's said Morgan Stanley is poised for better times ahead, after the bank posted better than expected quarterly results and slashed expenses over the past year. After a rough year, with low interested rates and Brexit hurting the stock, Morgan Stanley should be able to "turn it around," the publication contended. 2. ANALYST MOVES TO THE SIDELINES: On October 6, Sandler O'Neill analyst Jeffery Harte downgraded Morgan Stanley to Hold, citing relative share outperformance. While the analyst raised his third quarter earnings per share estimate to primarily reflect a more resilient underwriting and FICC revenue environment, Harte said he expects revenue for the quarter to decline by 7% sequentially to $8.3B. Additionally, he sees non-interest expenses declining by 2% sequentially to $6.3B. 3. BREXIT CONCERNS: During the company's last earnings call, the bank CEO James Gorman expressed concern over Britain's decision to leave the EU, saying the vote has created "uncertainty that is likely to persist for some time," which while "suboptimal," did create "record high volumes and sparks of volatility," said Gorman. The CEO added, however, that Morgan's systems "ran smoothly" in the wake of the Brexit vote. Also commenting on the Brexit vote, the bank's head of Europe Rob Rooney said on Tuesday that Morgan Stanley would have to move parts of their operations from London if the U.K. were shut out of the single market after Brexit, according to Reuters. 4. MOVE TO BASIC BANKING: Morgan Stanley and Goldman Sachs (GS) have turned to more basic banking businesses of deposits and loans for the middle class, as they try to replace lost profits, according to The Wall Street Journal. Both banks have been growing deposits and loans the past couple of years, with Morgan Stanley's lending book having more than tripled since 2012 to $93B, the publication said. Further, Morgan Stanley began offering clients new perks to move outside cash into their brokerage accounts, including reimbursing ATM fees, and will soon begin offering a savings account that pays about 0.45 percentage points a year, the report noted.

MS

Morgan Stanley

$32.34

0.545 (1.71%)

GS

Goldman Sachs

$172.35

3.35 (1.98%)

  • 18

    Oct

  • 19

    Oct

  • 23

    Oct

  • 10

    Nov

MS Morgan Stanley
$32.34

0.545 (1.71%)

06/01/16
06/01/16
NO CHANGE

BMO Capital recommends pair trade ahead of CCAR
BMO Capital recommends that investors go long Discover (DFS) and Morgan Stanley (MS) and short Comerica (CMA) and Fifth Third (FITB) ahead of the release of the 2016 CCAR results. BMO says that, after analyzing the stress tests criteria, it prefers banks with less asset sensitivity, limited exposure to capital markets, limited exposure to business outside the U.S., low market expectations for pay-out ratio increases, and high starting capital ratios. For investors expecting an intreest rate hike in June, BMO recommends going long SunTrust (STI) and shorting Comerica and Fifth Third.
07/13/16
BREN
07/13/16
INITIATION
Target $29
BREN
Hold
Morgan Stanley initiated with a Hold at Berenberg
Target $29.
07/13/16
07/13/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Citi (C) initiated with a Buy, JPMorgan (JPM) initiated with a Sell, Goldman Sachs (GS) and Morgan Stanley (MS) initiated with a Hold at Berenberg. 2. Ingersoll-Rand (IR) initiated with an Outperform at BMO Capital. 3. Incyte (INCY) initiated with an Outperform at RBC Capital. 4. Williams (WMB) reinstated with a Buy at Goldman. 5. E-Trade (ETFC) initiated with a Buy at Buckingham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/06/16
SDLR
10/06/16
DOWNGRADE
Target $33
SDLR
Hold
Morgan Stanley downgraded to Hold from Buy at Sandler O'Neill
Sandler O'Neill analyst Jeffery Harte downgraded Morgan Stanley to Hold citing relative share outperformance and maintained his $33 price target on shares.
GS Goldman Sachs
$172.35

3.35 (1.98%)

07/13/16
BREN
07/13/16
INITIATION
Target $140
BREN
Hold
Goldman Sachs initiated with a Hold at Berenberg
Target $140.
10/10/16
OPCO
10/10/16
NO CHANGE
OPCO
Oppenheimer technical analyst upgrades Financials, downgrades Consumer Staples
Oppenheimer technical analyst Ari Wald upgraded the Financials sector to Market Weight and downgraded Consumer Staples to Underweight in next step in the firm's "cyclical rotation road map." Wald identified Ameriprise (AMP), Bank of America (BAC), Citi (C), Goldman Sachs (GS), Lincoln National (LNC) and SunTrust (STI) as six stocks breaking higher that he sees as likely to benefit from internal market rotation.
10/17/16
RAFF
10/17/16
UPGRADE
RAFF
Buy
Goldman Sachs upgraded to Buy from Hold at Rafferty Capital

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Emerald Expositions Events

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GOOG

Alphabet

$874.25

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SRPT

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$34.72

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BSAC

Santander Chile

$23.59

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SWN

Southwestern Energy

$7.67

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CRMD

CorMedix

$1.04

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FET

Forum Energy

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SJR

Shaw Communications

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