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July 18, 2019, 7:44 a.m. EDT

Morgan Stanley's stock gains after profit, revenue and NII beats

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By Tomi Kilgore

Shares of Morgan Stanley /zigman2/quotes/209104354/lastsale MS -4.76% gained 0.6% in premarket trading Thursday, after the investment bank reported a second-quarter profit, revenue and net interest income that beat expectations, as growth in its wealth and investment management businesses helped offset declines in its sales and trading businesses. Net income fell to $2.20 billion, or $1.23 a share, from $2.44 billion, or $1.30 a share, in the year-ago period. The FactSet EPS consensus was $1.14. Net revenue fell 3% to $10.24 billion, but was above the FactSet consensus of $9.99 billion, as net interest income increased 14% to $1.03 billion to beat expectations of $992.9 million. Sales and trading (S&T) revenue declined 12%, as equity S&T revenue fell 14% to $2.13 billion to miss the FactSet consensus of $2.20 billion and fixed income S&T revenue declined 18% to $1.13 billion to miss expectations of $1.35 billion. Separately, the bank said the quarterly dividend was raised to 35 cents a share from 30 cents. The stock has advanced 10.4% year to date through Wednesday, while the SPDR Financial Select Sector ETF /zigman2/quotes/209660484/lastsale XLF -3.05% has rallied 16.9% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.37% has climbed 19.1%.

/zigman2/quotes/209104354/lastsale
US : U.S.: NYSE
$ 34.01
-1.70 -4.76%
Volume: 33.38M
March 27, 2020 6:30p
P/E Ratio
6.56
Dividend Yield
4.12%
Market Cap
$52.12 billion
Rev. per Employee
$831,709
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/zigman2/quotes/209660484/lastsale
US : U.S.: NYSE Arca
$ 21.01
-0.66 -3.05%
Volume: 109.31M
March 27, 2020 8:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,541.47
-88.60 -3.37%
Volume: 3.59B
March 27, 2020 5:12p
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