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 fourth-quarter earnings before the market opens on Thursday.
Here’s what Wall Street expected:
- Earnings per share were $1.70, according to LSEG
- Revenue: $15.03 billion
- Wealth management: $7.36 billion, according to StreetAccount
- Deals: $2.68 billion in equities, $1.68 billion in fixed income, according to StreetAccount
- Investment banking: $1.66 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 in the fourth quarter, which drives up the management fees it charges.
Investment banking activity continued to rebound last quarter, growing 29% this quarter, driven by growing advisory and equity capital markets activity, according to Dealogic. An eventful election season also supported deal activity.
Wednesday, JPMorgan Chase, Goldman Sachs and Citigroup Each beat expectations, thanks to better-than-expected trading or investment banking revenue.
This story is developing. Please check back for updates.
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