HON : $84
MS : $27.50
** daily **
** weekly **
** heikin **
5 years
MS Wed-Thur, just before earnings release
Morgan Stanley turns in third-quarter earnings Friday. Given how bank earnings have fared so far this season, analysts will be looking for a few key data points: How bad was fixed-income trading? How much is the bank paying its investment bankers?
Fixed-income trading took a nose dive at other banks as clients pulled out of those markets, surprised by the Federal Reserve’s decision to keep QE in place and unnerved by the budget standoff in Washington. Both J.P. Morgan Chase & Co. JPM -0.34% and Goldman Sachs Group Inc. GS +0.06% cut a key measure of how they pay their investment bankers. Questions about fixed income trading and banker pay dominated Goldman Sachs’ analyst call on Thursday.
Analysts will also be interested in anything the bank might say about its physical commodities business. Regulators have been considering how to curb banks that own oil pipelines, metals warehouses and other physical commodities.
Morgan Stanley will be the last of the six mega-banks to report third-quarter earnings, bringing an end to a season that is perhaps best described as plodding. Most banks saw higher profits, but they were driven not by growth but by cutting costs.
** Friday 10/18/13 after earnings **
MS much better performer this week: MS gained almost 8% while HON hasn't done much.
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