2:22 PM · 19 April 2023

Morgan Stanley tumbles 4% despite good earnings report

Bank Morgan Stanley (MS.US) reported Q1'23 net income of $2.98 billion exceeding expectations but shares are tumble 5% before the market open because of weaker profits.

Revenues:  $14,52 bln USD vs $13,92 bln USD forecasts (Refinitiv)

Earnings per share (EPS):  $1.70 vs $1,62 forecasts (Refinitiv)

Net of interest expense was $14.52 bln above market consensus but equities trading income was below expectations $2,73 bln vs $2,86 bln. Fixed income revenue was  $2,58 bln, above $2,42 expectations. IIB revenue was  $1,25 bln also above  $1.12 bln expectations. The revenue from wealth management investment activity increased by 11% from a year ago.

Morgan Stanley (MS.US) on D1 interval. The premarket trading suggest that company shares will tumble below 23,6 Fibonacci retracement of the upward wave started in March 2020 and also below SMA200 (red line). The key support may be 38,2 Fibonacci level at 78 USD zone. Source: xStation5

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