Latest Morgan Stanley News

Morgan Stanley posts better-than-expected 1Q results

Apr. 17, 2019 7:57 AM EDT

NEW YORK (AP) — Morgan Stanley on Wednesday reported first-quarter profit of $2.43 billion. The New York-based company said it had earnings of $1.39 per share. Earnings, adjusted for pretax gains, were $1.33 per share. The results surpassed Wall Street expectations. The average estimate of four analysts...

Goldman profits fall 21% from year ago, hurt by trading

Apr. 15, 2019 9:08 AM EDT

NEW YORK (AP) — Goldman Sachs said its first quarter earnings fell by 21% from a year earlier, hurt by a slowdown in trading. The investment bank earned a profit of $2.25 billion, or $5.71 a share, down from a profit of $2.83 billion, or $6.95 a share, in the same period a year earlier. The results did...

CEOs of big banks face off with House Democrats

Apr. 10, 2019 4:41 PM EDT

NEW YORK (AP) — The heads of seven of the largest banks in the U.S. fielded sometimes contentious questions from a House committee on Wednesday, some dealing with current risks to the financial system and other focused on more politically-charged topics. The appearance by the chief executives of JPMorgan...

The Latest: BofA CEO asked about mortgage modifications

Apr. 10, 2019 3:25 PM EDT

The Latest on the appearance of U.S. bank CEOs before Congress (all times local): 3:15 p.m. The chief executive of one of the largest mortgage lenders in the country said he's never personally experienced what a mortgage modification is like. That's the comment made by Brian Moynihan, the CEO of Bank of America,...

Western banks help Saudis raise $12 billion in bonds

Apr. 10, 2019 12:54 PM EDT

LONDON (AP) — Saud Arabian state-controlled oil company Aramco - the most profitable in the world - has raised $12 billion in a bond issue that shows Western investors are keen to do business with the kingdom despite global outrage over last year's killing of a dissident journalist. Bonds from Saudi Aramco...

Asian shares fall amid global tensions, worries about growth

Apr. 9, 2019 10:59 PM EDT

TOKYO (AP) — Asian shares fell Wednesday following a slide on Wall Street amid growing tensions between the U.S. and the European Union and a dim forecast on global economic growth. Japan's benchmark Nikkei 225 dropped nearly 0.8% in morning trading to 21,635.16. Australia's S&P/ASX 200 slipped nearly...

CEOs of 7 big banks to appear in front of Congress

Apr. 9, 2019 2:55 PM EDT

NEW YORK (AP) — The heads of some of the U.S.' largest banks will appear in front of Congress Wednesday, for a hearing expected to produce political fireworks, but few policy changes. Jamie Dimon of JPMorgan Chase will testify, as well as the CEOs of Bank of America, Citigroup, Goldman Sachs and Morgan...

Job gain points to a US economy slowing but hardly stalling

Apr. 5, 2019 6:11 PM EDT

WASHINGTON (AP) — A month ago, many economists fretted that the 10-year U.S. expansion looked wobbly. But after the government reported Friday that hiring rebounded in March, the economy suddenly looks sturdy again. Growth has weakened since last year to something closer to the modest pace that has...

Snap and Apache jump while Boston Beer, LivaNova slip

Apr. 5, 2019 4:54 PM EDT

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Friday: Duluth Holdings Inc., down $5.94 to $17.60 The clothing retailer's fourth-quarter profit and revenue fell short of Wall Street forecasts. LivaNova PLC, down $26.94 to $69.69 The medical technology company's first-quarter revenue...

Asian shares waver following lackluster Wall St session

Apr. 4, 2019 1:18 AM EDT

BANGKOK (AP) — Shares were mixed in Asia on Thursday after modest gains overnight on Wall Street. The Shanghai Composite jumped 0.6% to 3,234.41 on reports of possible progress in China-U.S. trade talks. The U.S. and China opened a ninth round of talks Wednesday, aiming to further narrow differences in an...