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INX:MS, Jun 05, 03:34 UTC

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Morgan Stanley in Talks to Acquire CLO Assets of Assurant

AIZ MS

Morgan Stanley’s spokesperson declined to comment on the matter as the talks are private and representatives of Assurant did not respond to requests for comment.Notably, the coronavirus outbreak in mid-March shook the market for CLO issuance. As uncertainties regarding the impact of the virus on financials increased, the prices on underlying debt plunged to their lowest levels in March.However, before the outbreak of the virus, the CLO market flourished, stimulated by investors, who were deprived of yield by years of low interest rates.Notably, the fair value of Assurant’s CLO notes as of Mar 31, 2020, was $1.6 billion and Morgan Stanley will likely pay a fraction of the amount to get the rights to manage the CLO assets.Like Goldman Sachs GS, Morgan Stanley showed a keen interest in CLO sales in 2019. Near-zero interest rates and elevated expenses are major near-term concerns for the company.So far this year, shares of Morgan Stanley lost 8.2% compared with a decline of 13.1% recorded by the industry. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.A better-ranked stock from the same space is GAIN Capital Holdings GCAP. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies.

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Wednesday, June 03


News

Morgan Stanley in Talks to Buy Assurant’s CLO Assets

AIZ MS +1 more AIZ MS BLK

(Bloomberg) -- Morgan Stanley is in talks to buy Assurant Inc.’s collateralized loan obligation assets, taking another step in beefing up its leveraged credit business, according to people with knowledge of the matter. An agreement could be reached in the coming week, said the people, who requested anonymity because the talks are private. A spokesperson for Morgan Stanley declined to comment and representatives of Assurant didn’t immediately respond to requests for comment. Assurant’s CLO notes exposure, at fair value, was $1.6 billion as of March 31, according to filings. Last year, the lender signaled an ambition to throw its weight behind CLO sales, joining peers like Goldman Sachs Group Inc. in assembling deals that package leveraged loans into bonds with varying risk and return.

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News

Morgan Stanley Bullish On Rising App Store Revenue, Raises Apple Price Target

MS AAPL

Morgan Stanley Bullish On Rising App Store Revenue, Raises Apple Price Target. Katy Huberty maintained an Overweight rating on Apple and lifted the price target from $326 to $340. (See her track record here.). Since the start of the second calendar quarter, App Store net revenue is tracking higher by 35% year-over-year, and this is "meaningfully" higher than expectations for 18% growth, the analyst said. Even if the pace of growth slows down in June, total App Store sales growth could come in at 32% for the quarter, which translates to more than $500 million of Services revenue upside versus expectations, she said. Consumers are showing high levels of engagement with apps as part of a "new normal," and this trend will likely remain for the near-to-medium-term, Huberty said.

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Tuesday, June 02


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APA Group taps Morgan Stanley executive to head strategy, commercial units

MS

APA Group taps Morgan Stanley executive to head strategy, commercial units. (Reuters) - Australia's biggest gas pipeline operator APA Group (APA.AX) said on Tuesday it has appointed Morgan Stanley (MS.N) senior executive Julian Peck to head its strategy and commercial units. Peck, who co-led Morgan Stanley's Australian investment banking arm, will now oversee all of APA's business development and commercial contracting activities, along with merger and acquisition ventures. He has been with Morgan Stanley Australia for 14 years and prior to being named as the investment banking head in October 2017, Peck helmed its infrastructure and utilities sector.

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Friday, May 29


News

Fifth Third Bancorp to Attend the Morgan Stanley Virtual US Financials Conference

FITB MS

Fifth Third Bancorp (Nasdaq: FITB) will attend the 2020 Morgan Stanley Virtual US Financials Conference on June 10, 2020 at approximately 8:45 AM ET. Greg D. Carmichael, chairman, president and chief executive officer, will present on behalf of the Company. Audio webcast and any presentation slides may be viewed live and for approximately 14 days after the conference through the Investor Relations section of www.53.com. Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of March 31, 2020, the Company had $185 billion in assets and operates 1,123 full-service Banking Centers, and 2,464 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina.

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Thursday, May 28


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Ally Should Recover With Broader Economy, Morgan Stanley Says In Upgrade Note

MS

Ally Financial Inc (NYSE: ALLY) will benefit from an economic recovery, as it will create more jobs and therefore spur more driving and higher auto sales, according to Morgan Stanley. Betsy Graseck upgraded Ally Financial from Equal-weight to Overweight and raised the price target from $23 to $26. With the economy reopening, the unemployment rate is likely to peak at 17% in May and then decline to 10.7% in September and to 9% in December, which improves the outlook for a bottom in consumer credit, Graseck said in the Thursday upgrade note. Fiscal stimulus has driven personal savings rate to 13.1%, lowering consumer loan losses, the analyst said. As driving trends resurge, there will be an increase in vehicle demand, she said.

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Thursday, May 21


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Morgan Stanley CEO: too early to consider restarting share buybacks

MS

NEW YORK (Reuters) - Morgan Stanley's Chief Executive Officer James Gorman told shareholders on Thursday that it is too early for him or anyone on the board of directors to consider reinstating the bank's share buyback program. Morgan Stanley, along with JPMorgan Chase & Co, Bank of America and five others, voluntarily suspended their share repurchases in mid-March to preserve liquidity during the novel coronavirus pandemic to lend to individuals and businesses in need. Gorman, speaking at the bank's annual meeting, said he does not anticipate resuming share buybacks until the bank is certain the economy is on more steady footing. Despite the costs of these expansions, Gorman has said that the bank's operating committee unanimously ruled out staff cuts in 2020. Since March, more than 90% of the bank's worldwide staff has been working from home, and Gorman said Thursday he expects only about 50% of workers to return to working in offices by the end of this year.

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Tuesday, May 19


News

ValueAct Holdings Exits FedEx, Cuts Morgan Stanley

FDX MS

Jeff Ubben (Trades, Portfolio)'s ValueAct Holdings sold shares of the following stocks during the first quarter of 2020. The company, which distributes and holds student loans, has a market cap of $2.78 billion and an enterprise value of $594.58 million. The firm closed its position in Alliance Data Systems Corp. (ADS), impacting the portfolio by -0.37%. GuruFocus gives the company a profitability and growth rating of 8 out of 10. While the return on equity of 8.48% is outperforming the sector, return on assets of 0.58% is underperforming 65% of companies in the credit services industry.

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Monday, May 18


News

Morgan Stanley Sticks to Their Hold Rating for Lear Corp

MS BWA

Morgan Stanley Sticks to Their Hold Rating for Lear Corp. Investing.com{{monthName}} {{day}}, {{year}}, {{hour12}}:{{minuteTwoDigit}} {{dayPeriod}}. Morgan Stanley (NYSE:MS) analyst Armintas Sinkevicius maintained a Hold rating on Lear (NYSE:LEA) Corp on Monday, setting a price target of $82, which is approximately 14.10% below the present share price of $95.46. Sinkevicius expects Lear Corp to post earnings per share (EPS) of $1.26 for the second quarter of 2020. The current consensus among 14 TipRanks analysts is for a Moderate Buy rating of shares in Lear, with an average price target of $107.67.The analysts price targets range from a high of $137 to a low of $65.

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News

Morgan Stanley Sticks to Their Hold Rating for Lear Corp

DTE MS +1 more DTE MS BWA

Morgan Stanley Sticks to Their Hold Rating for Lear Corp. Investing.com{{monthName}} {{day}}, {{year}}, {{hour12}}:{{minuteTwoDigit}} {{dayPeriod}}. Morgan Stanley (NYSE:MS) analyst Armintas Sinkevicius maintained a Hold rating on Lear (NYSE:LEA) Corp on Monday, setting a price target of $82, which is approximately 14.10% below the present share price of $95.46. Sinkevicius expects Lear Corp to post earnings per share (EPS) of $1.26 for the second quarter of 2020. The current consensus among 14 TipRanks analysts is for a Moderate Buy rating of shares in Lear, with an average price target of $107.67.The analysts price targets range from a high of $137 to a low of $65.

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