Morgan Stanley (MS) Pre-Announcement
Morgan Stanley reports the following:
REPORTS Q3 $1.32 V $0.77E, R$8.0B V $6.28BE, MAINTAINS DIVIDEND OF $0.27
- Liquidity $175B at end of Q3, Q3 leverage 23.5x, adjusted leverage ratios 12.9x
- Q3 ROE 16.1% v 25.5% y/y
- Institutional Securities net revenues $5.9B v $3.625B q/q
- Equity sales and trading net revenues $2.7B v $2.1B q/q
- Fixed income sales and trading net revenues $1.9B v $414M q/q
- Global Wealth Management revenues of $1.6B v $2.44B q/q
- Investment Banking revenues $1.0B v $875M q/q
- Book value at $31.25/shr
Where’s that extra liquidity coming from? They’ve barely reduced leverage from Q2’s 25.1x. But, hey, if the US government keeps hiring them to look at other banks’ books, MS could do very well………..
liars, cheaters and thiefs