US Stock Reports, Quotes and News
April hasn’t been very welcoming for US stocks so far as higher rates continue to pressure valuations and heavy fiscal spending complicates efforts to tame inflation. As a result, the S&P 500 fell more than 5% this month, retreating below the 5,000 mark for the first time since February.
On Friday, Morgan Stanley raised its rating on Shopify (NYSE:SHOP) shares to Overweight from Equal-Weight, accompanied by an increase in the price target to $85 from $74. The firm\’s confidence in Shopify\’s growth durability is bolstered by the company\’s success in capturing more upmarket share and a disciplined approach to headcount management.
By Echo Wang and Abigail Summerville
In their latest note on the US e-commerce sector, Morgan Stanley analysts said they double upgraded eBay (NASDAQ:EBAY) to Overweight from Underweight and demoted Etsy (NASDAQ:ETSY) to Underweight from Equal Weight, citing “growth convergence.”
Morgan Stanley (MS) has reported robust first-quarter results for 2024, marking a significant surge in its wealth management business. The firm announced $15 billion in revenue, alongside an earnings per share (EPS) of $2.02 and a return on tangible equity of 20%. The company\’s wealth management division recorded record revenues and net new assets totaling $95 billion.
Investing.com– Morgan Stanley (NYSE:MS) plans to start cutting about 50 investment banking jobs in Asia, excluding Japan, this week, with a bulk of the cuts aimed at Hong Kong and China, Bloomberg reported on Wednesday.
HONG KONG (Reuters) – Morgan Stanley is cutting at least 50 investment banking jobs in the Asia-Pacific region due to a deals slump, two sources with knowledge of the matter said.
Investing.com – Morgan Stanley (NYSE: MS) reported first quarter EPS of $2.02, $0.35 better than the analyst estimate of $1.67. Revenue for the quarter came in at $15.1B versus the consensus estimate of $14.42B.
Morgan Stanley (MS) has reported a notable increase in its first-quarter earnings and revenue, surpassing analysts\’ expectations and prompting a 2% rise in its shares premarket. The financial services firm announced net revenues of $15.1 billion for the quarter ended March 31, 2024, a 4.1% increase from the $14.5 billion reported in the same period last year. Adjusted earnings per share (EPS) reached $2.02, exceeding the analyst estimate of $1.67 by $0.35.
Investing.com — U.S. futures traded in a mixed fashion Tuesday, as investors digested a cocktail of elevated Middle East tensions, rising bond yields and quarterly corporate earnings.
European shares inched up on Monday, with defence stocks among top gainers, as investors assessed the wider implications of escalating tensions in the Middle East, while optimism around imminent interest rate cuts also aided sentiment.