Morgan Stanley Misses Analysts’ Profit Expectations on Worse-Than-Expected Investment Banking

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Morgan Stanley Misses Analysts’ Profit Expectations on Worse-Than-Expected Investment Banking

Seeking Alpha2022-07-14

Morgan Stanleyposted results on Thursday below analysts’ expectations for second quarter profit and revenue on weaker-than-expected investment banking revenue.Here are the numbers:Earnings of $1.39 ...

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Pokkypok
·2022-07-15
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Leeverp001
·2022-07-15
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robot1234
·2022-07-15
JPMorgan suspends buybacks, warns on global economy as profit slumps. JPMorgan Chase & Co's Jamie Dimon struck a cautious note on the global economy as America's largest bank reported a worse-than-expected 28% fall in quarterly profit and suspended share buybacks in the face of growing risks of a recession.The chief executive also stressed the need to build capital reserves due to increasing requirements from regulators, while flagging a number of concerns including the war in Ukraine, high inflation and the "never-before-seen" quantitative tightening as threats to global economic growth. JPMorgan's shares slid nearly 5% as the bank recorded $1.1 billion in provision for credit losses, including a $428 million boost in loss provisions. Last year, the bank had released $3 billion f
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eo1668
·2022-07-14
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Aaaaaaaaaaas
·2022-07-14
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The change was triggered by broad declines in financial assets, pessimism over the possibility of a recession and the Russian invasion of Ukraine.Morgan Stanley co-President Ted Pick said last month that markets would be dominated by concern over inflation and recession in a period of transition after nearly 15 years of easy-money policies by central banks came to an end.“The banking calendar has quieted down a bit because people are trying to figure out whether we’re going to have this paradigm shift clarified sooner or later,” Pick said.Still, parts of Morgan Stanley’s operations benefited. 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JPMorgan Chase &amp; Co's Jamie Dimon struck a cautious note on the global economy as America's largest bank reported a worse-than-expected 28% fall in quarterly profit and suspended share buybacks in the face of growing risks of a recession.The chief executive also stressed the need to build capital reserves due to increasing requirements from regulators, while flagging a number of concerns including the war in Ukraine, high inflation and the \"never-before-seen\" quantitative tightening as threats to global economic growth.&nbsp;JPMorgan's shares slid nearly 5% as the bank recorded $1.1 billion in provision for credit losses, including a $428 million boost in loss provisions. Last year, the bank had released $3 billion f","listText":"JPMorgan suspends buybacks, warns on global economy as profit slumps. 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