09:00
societynews[dot] org
Well, well, well. Who would have thought it.
Although Morgan Stanley posted a loss of Q2 558 m $ Thursday (after a one-time charge of $1. 7bn related to its agreement with Mitsubishi UFJ International), the Cabinet took the markets by surprise with a solid performance across all major companies, with revenues 17% in the first quarter. Fixed income has been particularly in the period.
And the shares of the company replied by 11.42% higher in New York trade, closing at 24.20.
Provision of compensation of employees has increased too much, as Morgan Stanley set aside $4. 19bn for investment banking staff in the first 6 months of the year (an increase of 10% on last year). This compares to the. $ 8 Goldman 44bn is cancelled in the period (down 9%) and the. 86bn 5 $ allocated for comp by the JPMorgan Investment Bank (+ 4.86% over a year earlier).
Compensation set aside for richness of Morgan Stanley firms arrived MD $4 (+ 9%).
And the smart money has started to blow the trumpet of the Cabinet:
"I think that Gorman (CEO James) is finally beginning to see the reality of its efforts to improve the business".
' Morgan Stanley is the new Goldman Sachs. Each of their divisions shows improvement and upgrading of trading operations is particularly impressive '.
Richard Bove, analyst, Rochdale Securities (The New York Post, The Daily Telegraph)
' Morgan Stanley has really hit the ball out of the Park. It is a very impressive neighbourhood of a point of view of revenue "."
Jason Tyler, SVP, Ariel Investments (Bloomberg Radio)
The results of the second quarter of Morgan Stanley should dispel any notion that the company may be worth more dead than live '.
The Wall Street Journal
However, a set of data does really that Morgan Stanley is on the way back, and CEO James Gorman, reminded the staff in a memo Thursday that "there are still many" to realize the full potential of our franchise world.
Overall, however, it is good to be Morgan Stanley (for now).
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