MORGAN STANLEY EPS BEATS ESTIMATES; STOCK RISES

Morgan Stanley’s stock is currently trading at 44.15-higher by 0.80% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 0.66%. The stock has erased all of its earlier losses and turned into positive territory after the opening bell.

The company reported its second-quarter earnings before the market opens on Thursday. Morgan Stanley generated an EPS of $1.23 for the second quarter. The EPS was above the market expectation of $1.14. The company brought in $10.24 billion in revenue for the second quarter. The revenue was above the consensus estimates ($10.01 billion) due to better-than-expected results in the bank’s wealth management and investment management divisions.

Morgan Stanley announced in June that it got permission from the Fed to hike its quarterly dividend to 35 cents per share from 30 cents and buy back $6 billion of its stocks. Shares of the Morgan Stanley have rallied 10% this year before the second-quarter results.

On the technical front, the current price is below the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards. The RSI is currently at 53.50% and suggests that the market can move in the upward direction.

 

TRADE SUGGESTION- STOP BUY AT 44.19 TAKE PROFIT AT 44.55 STOP LOSS AT 44.01

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