Morgan Stanley Beats 4Q Investment-Banking Forecast

Watch Morgan Stanley Beats 4Q Investment-Banking Forecast - Bloomberg on Dailymotion

Transcript

00:00Morgan Stanley, that is doing better today. Expenses did come in less than expected.

00:05You're looking at its equities trading revenue. This is interesting.

00:09Coming in below Goldman Sachs, to remind you, equities trading at Goldman Sachs is $4.3 billion.

00:15At Morgan Stanley, it was $3.7 billion. The reason this is interesting is because Morgan Stanley had taken back the equities trading crown.

00:23It looks like they are now ceding that to Goldman Sachs.

00:26Their debt underwriting, this is also a huge push from the new CEO, Ted Pick.

00:31That is a handily beat. $785 million is their debt underwriting fee they've garnered for their investment bank.

00:38The expectation was $635. So in these parts that it counts, debt underwriting, wealth management also outperforming.

00:45Numbers look very solid for Morgan Stanley.