Morgan Stanley profit beats on wealth management gains, lower expenses
Morgan Stanley reported a drop in quarterly profit but beat analysts' expectations on gains in its wealth-management business and lower expenses.
Market wire
Headlines on the small cap U.S. and Canadian companies we follow, pulled from the wires as they publish. Every story opens at its original source.
Morgan Stanley reported a drop in quarterly profit but beat analysts' expectations on gains in its wealth-management business and lower expenses.
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U.S. stocks opened lower on Thursday as shares of streaming pioneer Netflix tumbled, kicking off earnings for the FAANG group of stocks on a sour note.
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Revenue of $10.24 billion exceeded the consensus estimate by almost $250 million.
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Netflix shares are cratering after it missed Wall Street's target for international subscriber growth.
Morgan Stanley reported a drop in quarterly profit but beat analysts' expectations on slim gains in its wealth management business and lower expenses.
Netflix shares may be getting hammered on Thursday but research from Bespoke Investment Group shows that history is kind to the stock in trading.
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