☰

Empresas y finanzas

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 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)