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Published: Thu, April 20, 2017
Culture | By Antonia Gonzales

Morgan Stanley's quarterly profits surge on trading gains

Morgan Stanley's quarterly profits surge on trading gains

This represents a $0.80 annualized dividend and a yield of 1.94%. That's up 87% from $908 million a year ago.

In its place, Morgan Stanley built out its wealth management division, which Gorman favored for its reliable income stream.

For HP, Morgan Stanley wrote that "continued PC strength, inflecting printer supplies growth, and share gains" could lead to revenue and free cash flow upside in its April court, as well as a potentially higher free cash flow outlook for the whole year. The company has a 50-day moving average price of $44.15 and a 200-day moving average price of $40.77.

The company's net revenues advanced to $9.7 billion from $7.8 billion in the previous year period thus bearing the expectations of $9.29 billion.

The weekly performance is -1.67% for Morgan Stanley, while the monthly performance measure stands at -8.46%.

Analysts on average had expected a profit of 89 cents per share, according to Thomson Reuters. The Global wealth management revenue in the 1Q 2017 is of $4.1 billion compared to $4.09 billion expected by the analysts' consensus. During the same period in the prior year, the company earned $0.43 earnings per share.

Net revenue jumped 25 percent to $9.75 billion, beating the average estimate $9.27 billion. For the full year, analysts are looking for EPS of $3.39 and revenues of $36.71 billion.

Then there is Merrill Lynch, which showed it is already capitalizing on changes it made to comply with the rule, specifically moving most of its retirement-saving clients who pay commissions to accounts that charge a fee based on a percentage of the assets. The stock was sold at an average price of $44.25, for a total transaction of $442,500.00. Parkside Financial Bank & Trust now owns 3,437 shares of the financial services provider's stock worth $110,000 after buying an additional 207 shares during the last quarter. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Industrial and basic materials companies are also gaining ground. They set a "neutral" rating and a $46.00 price target for the company. After a recent check, company stock has been trading near the $41.37 mark. The disclosure for this sale can be found here.

OTHER ENERGY TRADING: Wholesale gasoline fell 5 cents, or 3 percent, to $1.66 a gallon. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of USA & global copyright & trademark laws.

On Tuesday, Goldman Sachs reported first-quarter earnings that came up short, missing estimates by a distance. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of Morgan Stanley by 240.3% in the third quarter.

This meant that Morgan Stanley was able to report the best year-on-year growth in debt trading - for a long time the main revenue generator for the world's biggest banks - of all the big Wall Street banks.

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