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01

Morgan Stanley Dares You To Fade Their Quarter Like You Did Goldman And JPMorgan

By Tony Seruga

If you’re wondering what to make of Morgan Stanley’s quarter, why not just ask Goldman?

Morgan Stanley & Co. (MS): First Take: A very well rounded beat

…reads the title of Goldman’s post-mortem for their rival’s Q1 results, which included revenue that crossed the $11 billion threshold.

With JPMorgan, Citi, Goldman, and now Morgan results all in the books, it’s clear that when it comes to volatility, they’d all be fine with “more cowbell”. Equities trading was a boon for pretty much everyone in Q1 and unsurprisingly, given its dominance in the space, Morgan was no exception, posting sales & trading revenue of $2.6b – that was well ahead of consensus ($2.15b) and comprised 58% of trading revenue compared to ~31% for peers…

Morgan Stanley Dares You To Fade Their Quarter Like You Did Goldman And JPMorgan

Categories : Private Equity

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