MS - Why Morgan Stanley Shares Are Surging Today | Benzinga
Morgan Stanley (NYSE:MS) shares are trading higher after the company reported better-than-expected first-quarter FY24 financial results.
The company reported revenues of $15.1 billion, beating the consensus of $14.34 billion.
The Wealth Management division generated $6.9 billion in revenue, vs. $6.6 billion a year ago.
Related: Regulators Probe Morgan Stanley’s Wealth-Management Division: Report
Investment Banking produced $1.45 billion in revenue, up 16% Y/Y, led by equity underwriting revenues (reflecting higher revenues from IPOs and follow-ons) and fixed income underwriting revenues on higher ...