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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·2022-07-15
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Leeverp001
·2022-07-15
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·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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·2022-07-14
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·2022-07-14
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Revenue dipped 11% to $13.13 billion, driven by the steep 55% decline in investment banking revenue.The results confirm what some analysts had feared for Morgan Stanley, which runs one of the larger equity capital markets operations on Wall Street.Wall Street banks are grappling with the collapse in IPOs and debt and equity issuance this year, a sharp reversal from the deals boom that drove results last year. 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. Bond traders are expected to post strong results, thanks to volatility in commodities and interest rates.While analysts expect that the bank’s giant wealth management and investment management divisions – responsible for half of the firm’s revenue – will hold up better than investment banking, lower asset values will reduce revenue there as well.Shares of the bank have dropped 24% this year through Wednesday, worse than the 19% decline of the KBW Bank Index.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9076297170,"gmtCreate":1657849325890,"gmtModify":1676536072126,"author":{"id":"4093773477977220","authorId":"4093773477977220","name":"Pokkypok","avatar":"https://static.tigerbbs.com/f1ed8a349a550bf22aedf2ec6eda9574","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9076297170","repostId":1180453666,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9076647326,"gmtCreate":1657846837265,"gmtModify":1676536071374,"author":{"id":"3581638553992479","authorId":"3581638553992479","name":"Leeverp001","avatar":"https://static.tigerbbs.com/0ca8989b3ded6e2f9c4fbf2bc5df66ed","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9076647326","repostId":1180453666,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9076817328,"gmtCreate":1657837866464,"gmtModify":1676536067586,"author":{"id":"3561596430587504","authorId":"3561596430587504","name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":6,"crmLevelSwitch":1},"htmlText":"JPMorgan suspends buybacks, warns on global economy as profit slumps. 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