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MORGAN STANLEY MISSES Q1 REVENUE EXPECTATIONS, STOCK FALLS -

16-Apr
20:26 IST

Morgan Stanley’s stock is currently trading at 38.20-lower by 0.52% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 1.82%. The stock has pared some of its earlier losses after the opening bell.

The bank today reported its first-quarter earnings before the market open on Thursday. Morgan Stanley generated an EPS of $1.01 for the first quarter of 2020. The EPS was below the consensus estimates of $1.14. The company brought in $9.49 billion in revenue for the first quarter. The revenue was also below the consensus estimates of $9.73 billion.

The bank also said that a sole bright spot for the industry, robust trading results, may prove to be fleeting. The company said the pandemic impacted each of its major businesses. Morgan Stanley’s massive wealth management division reported revenue of $4.04 billion. The revenue missed consensus estimates due to lower interest income and asset revenues. Stocks of Morgan Stanley have fallen about 27% Year-to-date.

On the technical front, the RSI is currently at 49.92% and suggests that the market can continue trading sideways. The current price is below the MA5. The current price is above the middle line of the Bollinger bands but is heading downwards.

Overall Bias is Negative and short-term trades can be initiated with tight Stop Loss and Profit target.

 

TRADE SUGGESTION- LIMIT SELL AT 38.25  TAKE PROFIT AT 37.45 STOP LOSS AT 38.65

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