NEW YORK, September 24, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Morgan Stanley (NYSE: MS). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/MS.pdf

Highlights from our MS Report include:

  • Topping Analysts' Estimates - On July 20, 2015, U.S. banking giant Morgan Stanley reported its Q2 2015 financial results. Morgan Stanley's revenues increased to $9.74 billion, representing a rise of 13% Y-o-Y. Excluding Debt Valuation Adjustment (DVA), net revenues were $9.6 billion, beating Thomson Reuters' consensus revenue estimate of $9.1 billion. Net income came in at $1.8 billion or $0.85 per diluted share, vis-a-vis $1.9 billion or $0.92 per diluted share reported in Q2 2014. Excluding DVA and the net discrete tax benefit in the prior year quarter, net income was $1.7 billion or $0.79 per diluted share, compared with net income of $1.2 billion or $0.58 per diluted share in the prior year quarter. The bank's diluted earnings of $0.79 also exceeded the consensus estimate of $0.74 per share.

  • Strong Results for Institutional Securities - This segment reported net revenues of $5.2 billion compared to $4.2 billion in the same quarter prior year. Excluding DVA, net revenues were $5.0 billion, versus $4.2 billion in the prior year quarter. The release stated that Advisory revenues of $423 million, equity underwriting revenues of $489 million and fixed income underwriting revenues of $528 million stood relatively unchanged from the prior year quarter, thus reflecting a continued favorable market environment. However, equity sales and trading net revenues jumped 27.8% Y-o-Y to $2.3 billion, reflecting robust performance across products and regions on higher levels of client activity. Net revenue in Morgan Stanley's fixed income and commodities unit was $1.3 billion, compared to $1.0 billion a year ago. The segment's pre-tax income from continuing operations was $1.6 billion vis-a-vis $960 million in Q2 2014.

  • Wealth Management's Performance - This segment reported revenues of $3.9 billion compared with $3.7 billion a year ago. The release highlighted that asset management fee revenues increased to $2.2 billion from $2.1 billion a year ago reflecting an increase in fee based assets and positive flows. Transactional revenues declined to $872 million from $991 million a year ago primarily reflecting lower revenues related to investments associated with certain employee deferred compensation plans and lower levels of new issue activity. Pre-tax income from continuing operations was $885 million versus $763 million in Q2 2014. Net interest income rose to $737 million from $577 million a year ago on the back of higher deposit and loan balances. Wealth Management bank deposits at the end of the quarter were $132 billion.

  • Positive Results for Investment Management - Net revenues for this segment rose to $751 million from $705 million in the corresponding quarter prior year, reflecting higher gains on investments in the Merchant Banking and Real Estate Investing business. Pre-tax income from continuing operations was $220 million versus $209 million reported in Q2 2014. As of June 30, 2015, the segment recorded assets under management or supervision of $403 billion versus $399 billion a year ago.

To find out how this influences our rating on Morgan Stanley, read the full report in its entirety here: http://www.aciassociation.com/MS.pdf

--

About ACI Association: 

Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:  

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the Sponsor have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the Sponsor (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.  The information in this release has been sourced from a third party data base.

NO WARRANTY 

ACI Association, the Author, the Reviewer and the Sponsor (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING 

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.

RESTRICTIONS 

ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


SOURCE www.aciassociation.com

Copyright 2015 PR Newswire

Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Morgan Stanley Charts.
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Morgan Stanley Charts.