Morgan Stanley (NYSE: MS) reported a better-than-expected bottom and top line results for the second quarter of 2020. Adjusted EPS of $2.04 and revenue of $13.4 billion, both increased year-over-year and excelled the market’s estimates. Revenue increased 31% in the quarter, fueled by the strong growth in investment banking and trading revenues.
MS stock was trading up about 1% in the pre-market trading session.
“Our decade long business transformation was intended to provide stability during times of serious stress. The second quarter tested the model and we performed exceedingly well, delivering record results,” said CEO James Gorman.
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Shares of Alibaba Group (NYSE: BABA) have dropped 10% since the beginning of the year. The company reported mixed results for the fourth quarter of 2021 a day ago, with
With some of its parks and resorts either closed or operating at reduced capacity even more than a year after the virus outbreak, The Walt Disney Company (NYSE: DIS) is