The New York-based Morgan Stanley (NYSE:MS) announced a 50% drop in earnings and reported that it would lower extra jobs as revenue from trading stocks and bonds plunged to the lowest level among Wall Street banks.
Morgan Stanley reported in a statement on Thursday that net income in the second-quarter was $591 million or 29 cents per share, evaluated against $1.19 billion or a loss of 38 cents per share in previous year. Profit was 16 cents per share without accounting adjustments, lower than the 29-cent median forecasts of 20 analysts polled by Bloomberg.
The 48% decline in trading revenue, which moved down to the record low level since CEO James Gorman took over in January 2010, evaluated against a boost of over 11% at Goldman Sachs Group, Inc (NYSE:GS).
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Wells Fargo & Company (NYSE:WFC) moved up +0.56% to end at $34.15, Bank of America Corp (NYSE:BAC) decreased -3.59% to settle at $7.26 while Goldman Sachs Group, Inc. (NYSE:GS) plunged -1.56% to finish on Thursday at $95.00.
Morgan Stanley (NYSE:MS) began the last trading session with a price of $13.49 and throughout the session climbed at a high of $13.73 but when day-trade ended the stock finally decreased -5.29% to $13.25.
MS had a trade volume of 61.25 million shares was higher as compared to average trading capacity of 25.71 million shares.
The stock is ahead its 52 week low with +15.41% and lagging behind from its 52 week high price with -45.24%. MS last month stock price volatility remained 3.38%. In its share capital MS has 1.98 billion outstanding shares among them 1.55 billion shares have been floated in market exchange. MS stock institutional ownership remained 61.21% while insider ownership included 0.32%.
Shares price of MS moved down from its 20 days moving average with -6.03% and remote negatively from 50 days moving average with -4.74%. MS current year earnings per share experienced a downfall of -48.50% while its current quarter performance remained -26.47%. Company’s beta coefficient included 1.59. Beta factors measures the amount of market risk associated with market trade.
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