Morgan Stanley CEO Ted Peake speaks on CNBC’s Squawk Box at the World Economic Forum Annual Meeting on January 18, 2024 in Davos, Switzerland.
Adam Galich | CNBC
Morgan Stanley The company is scheduled to report third-quarter earnings before the market opens on Wednesday.
Here’s what Wall Street expected:
- Earnings per share were $1.58, according to LSEG
- Revenue: $14.41 billion, according to LSEG
- Wealth management: $6.88 billion, according to StreetAccount
- Deals: $2.77 billion in equities, $1.85 billion in fixed income, according to StreetAccount
- Investment banking: $1.36 billion, according to StreetAccount
Morgan Stanley has several factors working in its favor.
The bank’s vast wealth management business will benefit from high stock market valuations this quarter, which has driven up the management fees the bank charges.
Investment banks have rebounded after a dismal 2023, a trend that is likely to continue as easing interest rates will encourage more financing and M&A activity.
Finally, its Wall Street rival posted better-than-expected trading results, making the company less likely to miss out on the brisk activity.
JPMorgan Chase, Goldman Sachs and Citigroup Beating expectations due to better-than-expected trading or investment banking revenue.
This story is developing. Please check back for updates.
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