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15.10.25 - 15:48
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Morgan Stanley, BofA Both Beat Earnings Estimates (Bloomberg)
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Morgan Stanley and Bank of America both beat Wall Street estimates for third quarter earnings. It was a very special quarter for Morgan as its trading revenue finally surpassed that of rival Goldman Sachs. Goldman has dominated the equity-trading business in recent years. Bank of America also reported earnings that beat estimates on higher investment banking revenue. Bloomberg's Sridhar Natarajan reports on "Bloomberg Open Interest." (Source: Bloomberg)...
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15.10.25 - 15:42
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Futures Rise After Strong Earnings Ease Trade War Fears (ZeroHedge)
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Futures Rise After Strong Earnings Ease Trade War Fears
US equity futures are again higher due a combination of softening trade rhetoric, a dovish Powell who reassured markets that another rate cut was coming, and solid results from BofA and Morgan Stanley. While cooking oil has become the latest flashpoint between the US and China, there are enough positive themes to offset trade-war worries for now. As of 8:15am ET, S&P 500 futures were 0.8% higher with Nasdaq 100 contacts +1.0%. Pre-mkt, Mag7 and Semis are looking to rebound from yesterday's losses where Equal-weighted indices outperformed Mkt-weighted indices by 90-100bp. Cyclicals are poised to see outperformance with Banks, Industrials (esp. AI plays), and Materials leading the factor higher. In Europe, ASML gave another boost to the AI story after orders for its chip-making machines beat expectations. Bond yields are lower and the USD is weaker. In commodities, crude is up but other Energy products are lower; precious metals are hig...
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15.10.25 - 14:31
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Morgan Stanley Stock Trading Revenue Soars in 3Q (Bloomberg)
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Morgan Stanley's stock traders topped expectations in the third quarter as revenue from trading stocks surged 35% to $4.12 billion. The firm also got a boost from better-than-expected investment-banking fees. Scarlet Fu reports on Bloomberg Television....
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15.10.25 - 14:12
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ROUNDUP: Morgan Stanley Q3 Results Top Estimates (AFX)
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NEW YORK CITY (dpa-AFX) - Financial services firm Morgan Stanley (MS) reported Wednesday that net income applicable to the company's shareholders for the third quarter grew to $4.61 billion or $2.......
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