deal reshaping the storied investment bank, morgan stanley ceo james gorman will join us in the next hour. a mega merger, increases the projection of expenses saved and the guidance which we ll get into, as well. giving up control of victoria s secret selling a 55% stake to siycamore and stepping down. we ll start with the deal of the day. morgan stanley agreeing to acquire etrade valued at $13 billion. $58.74 a share three months after schwab and td ameritrade announced a merger deal a lot of discussion of why not robin hood an enwhat it means for the sort of the framing of their wealth management business, jim. it is kind of amazing about 5 million accounts, maybe more robin hood with 10 million accounts in no time they were land speed record for accounts their success is driving everything they have the millennials. they have a different orientation. they have the easiest site to use. all hand held. they re racking up customers i have had robin on a couple times. t
averages and this is the s&p 500 , the dow on the nasdaq along with the russell 2000 and the stock. take a look at the volatility on the year, in january we had a big up month they gave way to andl declines in an gains declines a lot of uncertainty, neither the bulls with the mayor s having a lot of conviction in terms of what s going on in the bulls takeover in the summer with strong earnings reports but the fed on the prospect of rising rates really seems to have put a dent into this market along with trade fairs and the tech route we are seeing right now. have the russell 2000 down about 4% on the year in the dow and s&p 500 and the nasdaq down ever so slightly, so again, a very bearish tone as to what s happening, we are dragging on the s&p 500 on the day, let s take a look at the most movers at apple down 3.5% in a bear market, joining facebook in the faang trade, it really has to do with a lack of confidence as occurred in 2012 and 2015 around iphone demand, target down
welcome to market makers. we are going to spend some decent time talking about how hot, amazing and stylish fashionable guys are. adam johnson is here for that. we will have fun and i might learn something. you are a fashion plate yourself. you have heard that before but that dates you. they don t say fashion plate anymore. i think that is from the cheryl tiegs area. you will come up with something. we need to get to the big earnings story of the morning. goldman sachs and morgan stanley , shares of both companies are soaring after they beat analyst estimates on the top and bottom line. for goldman sachs, it was by a wide margin. devon ryan is here to break it down for us. surprise, surprise, goldman sachs wins. it was a good quarter for goldman sachs but you also have to look at what it is coming off of. the bar was reduced throughout the quarter. they beat lowered expectations. if you look at results, and upside surprise but the quality beat question. i wouldg a
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