On July 16, Morgan Stanley fell 3.39% in regular trading, trading at $220.9/share, with turnover of $2.87 billion. The pullback follows the stock touching an all-time high of $232.25 the previous session after reporting record Q2 results.
On the news front, Morgan Stanley reported Q2 EPS of $3.46 on July 15, beating the consensus estimate of $2.89 by approximately 19.7%. Net revenue reached $21.35 billion, up 27% year-over-year, significantly exceeding the $19.6 billion estimate. Equity trading revenue surged 69% YoY to $6.3 billion, a quarterly record driven by elevated market volatility and strong activity across Asian markets including Hong Kong, Japan, South Korea, and India. Net income rose 58% to $5.58 billion. The company also re-authorized a multi-year share buyback program of up to $20 billion. Despite the blowout results, the broader investment banking sector saw profit-taking, with Goldman Sachs down 3.03%, Interactive Brokers down 2.66%, and Robinhood down 1.59%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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