8 hours ago
Ted Pick, CEO of Morgan Stanley speaks on CNBC's Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 23, 2025.
Gerry Miller | CNBC
Morgan Stanley reported third-quarter earnings before the opening bell Wednesday.
Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
Wall Street trading desks have seen booming activity in the quarter, while investment banking continues to see a resurgence in activity for mergers and IPOs.
Stocks at or near record highs should bolster Morgan Stanley's giant wealth management division, as well.
Put together, Wall Street-centric banks like Morgan Stanley and peer Goldman Sachs are in an ideal environment.
Shares of Morgan Stanley have climbed almost 24% this year.
On Tuesday, JPMorgan Chase, Goldman, Citigroup and Wells Fargo each posted earnings that topped analysts' expectations for earnings and revenue.
This story is developing. Please check back for updates.
