Morgan Stanley (MS) Q2 Earnings Beat on Robust IB & Trading

Morgan Stanley’s (MS) second-quarter 2024 earnings of $1.82 per share handily outpaced the Zacks Consensus Estimate of $1.65. The bottom line also compared favorably with $1.24 per share reported in the prior-year quarter.Shares of the company plunged more than 3% in the pre-market trading on subdued wealth management performance.Like Wall Street peers, Morgan Stanley’s investment banking (IB) business rebounded. Advisory fees surged 30% year over year. Further, underwriting fees witnessed solid momentum in ...