Morgan Stanley's Almost-Flawless Quarter Gets Wall Street Kudos
- Shares up as much as 4.7%, most intraday since February 2017
- Other big bank shares rise, but not as much as Morgan Stanley
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Morgan Stanley shares are jumping as its better-than-expected second-quarter earnings report showed the bank’s dealmakers posted the biggest gains on Wall Street. Key topics on the bank’s conference call included the firm’s institutional securities business turning in its best first half since 2007, and the bank’s strong pipelines.
“If only all results could be this easy,” Bloomberg Intelligence’s Alison Williams said, flagging broadly stronger revenue, solid cost control and return on tangible equity.