April 19, 2012 / 12:07 PM / 7 years ago

Instant View: Morgan Stanley posts strong 1st-quarter

NEW YORK (Reuters) - Excluding a loss on a quirky accounting rule for its own debt, Morgan Stanley’s (MS.N) first-quarter net income rose on stronger wealth-management revenue and cost-cutting.

COMMENTS:

SHANNON STEMM, ANALYST, EDWARD JONES, ST. LOUIS: The results are very good. Fixed-income trading rebounded significantly and outpaced peers—and that’s still Morgan Stanley’s core business. We should see good performance out of the shares today. We have a buy rating, because we see a lot of upside in the stock longer term.

ALLERTON “TONY” SMITH, SENIOR DIRECTOR, MOODY’S ANALYTICS, NEW YORK:

This was a highly respectable quarter when you adjust for the DVA gains. Net revenues are up significantly from the prior quarter and a year ago, and, impressively, are up in each of their core businesses. It’s a pleasant surprise to see progress across all those businesses to that degree.

WOJTEK ZARZYCKI, CHIEF INVESTMENT OFFICER, OPTIMAL INVESTING, MONEY MANAGER, TORONTO

“The revenue is a good solid number. It is a pleasant surprise here. Today we’ve had a good Spanish bond auction and that, with their good numbers, is going to bump up the share price today.”

JOE TERRILL, PRESIDENT, TERRILL & CO., MONEY MANAGER, ST. LOUIS

“Nothing short of spectacular — profitability dramatically higher than any of us expected. Their equity trading blew the cover off the ball.”

Reporting by Jed Horowitz, David Henry, Ilaina Jonas

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below