Wednesday, November 10, 2010

Wells Fargo and Morgan Stanley go red

After a first blip upwards, Wells Fargo as Morgan Stanley are trading lower prior action according to the Wall Street Journal quote pages.

"Results in Morgan Stanley securities institutional segment reflects the pain lasts 3 as the revenue fell by 42% of fixed income securities an.Ventes and trade has plunged more than half to $846 million a year earlier, while sales of equity and trade also decreased to $925 million $1 quoted below in corporate cash and derivatives milliard.MS"pushed by reducing the rate of the activity of the client and volatility.""

This is all bad news, as advisory revenues increased by 33% from a year of reflecting results higher in each region.

And my colleague Matt Jarzemsky and Nathan Becker have a more complete look at Wells Fargo and Morgan Stanley. First Wells Fargo, and Morgan Stanley:

Wells Fargo & co. third quarter earnings rose 3.2% to a record as the banking giant having regard to its provisions for credit-loss decrease significantly and increase revenues.

"Earnings and growth were widespread, with all sectors of activity contributing to our record net income," said Chief Financial Officer Howard Atkins."

Wells posted especially better end, citing improved quality as it defines side less to cover loan losses.Giant banks more colleagues posted lower earnings this quarter in economic uncertainty and a withdrawal in activity as a trade.

Company reported a profit of 3.34 billion, or 60 cents per share, compared 3.24 billion $, 56 cents per share, a year more t?t.Les shares outstanding increased by 12% compared to the year précédente.recettes fell 7.1% to $ 20.87 billion.

Analysts surveyed by Thomson Reuters gains more recently 55 cents on 20.95 billion revenue forecasts.

Loss of credit provisions was 3.44 billion, down $ 6.11 billion a year earlier and FTAA $3.99 in the quarter préalable.compromis load NET or loan lenders do not think that are collectible, fell to 2.14% of medium-sized loans 2.33% and 2.5% respectively.Productive assets 4.59% of total loans increased by 2.93% and 4.35.

Shares fell by 0.7% to $24.35 objet.Le Tuesday closing stock fell to 19 per cent last year.

And here is their look at Morgan Stanley.

Third quarter earnings of Morgan Stanley has fallen to 67% as investment banking giant saw profits plunge into its institutional securities business.

"While we continued to make progress in certain key this quarter, businesses clearly, our results on the whole do not reflect the true potential of Morgan Stanley global client franchise, and I am not satisfied with our overall performance, said President and Chief Executive Officer James P. Gorman."

Shares decreased by 0.2% to $25.35 objet.Comme Tuesday is closed, the stock fell 22% last year.

Morgan Stanley had seen better results lately even realize this rare feat compensation rival Goldman Sachs Group Inc. in mind in the second quarter as securities firm institutional Bank and weapons of global wealth management saw the force.

But fell off the coast in the most recent quarter that its institutional securities, which includes investment banking and capital markets business results seen revenue fell 42% as profit jumped to 89 %.recettes global wealth management arm has increased by 2.5% and profit increased by 37%.

Goldman reported Tuesday earnings for third quarter of $ 1.9 billion, down 40% from a year earlier, he joined the trend other large banks with the lowest incomes and profits in the midst of economic uncertainty in cours.Commerce volumes also spend the summer.

Morgan Stanley profit slipped to $ 936 million dollars.Sur 313 million a per share basis, which includes preferred dividends, the most recent quarter has had a loss of 7-100, compared with a benefit year 38 cents.rémunération from continuing operations slipped 5 cents to 50 cents more recent quarter included a load of 229 million related to provision of Revel Entertainment Group LLC.

Revenue dropped by 20% to 6.78 billion.

Analysts surveyed by Thomson Reuters had forecast recently 15 cents on 6.44 billion revenue gains.

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