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20:42 IST

Morgan Stanley on Thursday posted second-quarter results that blew past analysts’ estimates on stronger-than-expected trading revenue. Morgan Stanley’s report follows earnings beat by JP Morgan on Tuesday, who reported EPS of $1.38 on revenue of $33.82B, compared to forecasts EPS of $1.19 on revenue of $30.41B. Investment banking revenue climbed 39% to $2.05 billion, fuelled by a boom in debt and equity issuance. 

Morgan Stanley is the last of the six largest U.S. banks to report second-quarter earnings. JP Morgan Chase, Goldman Sachs and Citigroup beat analysts’ expectations on strong trading and investment banking results, while Wells Fargo posted its first loss since the financial crisis on loan loss reserves.

The bank’s earnings attributable to common shareholders rose to $3.2 billion, or $1.96 per share, in the second quarter ended June 30, from $2.2 billion, or $1.23 per share, a year ago. Morgan Stanley announced earnings per share of $2.04 on revenue of $13.41B. Analysts polled EPS of $1.12 on revenue of $10.25B.

The bank generated a record profit of $3.2 billion, or $1.96 a share including an 8 cent per share expense tied to taxes, exceeding the $1.12 a share estimate of analysts. Revenue climbed roughly 30% to a record $13.4 billion, a surprise increase that exceeded expectations by a full $3 billion.

Morgan Stanley, which is essentially a global investment bank paired with a large wealth management business, benefited from one of Wall Street’s best trading quarters in years. The New York-based bank runs the biggest stock-trading business on Wall Street and a bond trading division that punches above its weight.

Fixed income traders had a blowout quarter, posting a nearly 170% revenue increase to $3.03 billion. Equities traders generated a more modest 23% increase in revenue to $2.62 billion. Combined, the trading division threw off $1.4 billion more revenue than analysts had expected.

Morgan Stanley shares are down 10.80% from its 52-week high of $57.57 set on January 17. They are under-performing the S&P Global 100, which is up 2.21% from the start of the year.

On the technical front, the RSI is at 82.41% and suggests that the market can move in an upward direction. The current price is trading above all the Moving Averages. The stochastic is forming an upside crossover.

Overall Bias is Positive and Short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

Trade Suggestion—Short Sell at $53.11 Take Profit at $51.00 Stop Loss at $54.15

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