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MORGAN STANLEY : Credit Suisse reiterates its Buy rating


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Susan Roth-Katzke from Credit Suisse retains his positive opinion on the stock with a Buy rating. The target price has been lifted and is now set at USD 98 compared to USD 95 before.
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Morgan Stanley Books Archegos Loss, But Profit Hits New High -- Update


By Peter Rudegeair
Morgan Stanley said Friday that first-quarter profit more than doubled from a year earlier, another Wall Street firm that reaped big gains from the euphoric market conditions of early 2021.
The New York-based bank reported record quarterly profit of $4.1 billion, or $2.19 a share, on revenue of $15.7 billion. That beat the consensus estimates of analysts polled by FactSet of per-share earnings of $1.72 on revenue of $14.1 billion.
Record performance across many of its businesses was offset by $911 million in losses Morgan Stanley booked related to the blowup at Archegos Capital Management in March.
Still, Morgan Stanley rounded out an all-time great first quarter from the nation s big banks. Asset prices rallied, millions of investors traded stocks with abandon and scores of technology and special-purpose acquisition companies listed their shares publicly, creating an optimal environment for banks Wall Street divisions. O ....

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Financials Soar As 10-Year Yield Tops 1% For First Time Since March - Financials Roundup


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Shares of banks and other lenders and money managers surged alongside Treasury yields in anticipation of a government-spending program under the Democratic Party s dominance in Washington DC.
Treasury yields topped 1% for the first time since March amid hopes that the chaos and uncertainty that marked the end of the Trump presidency could be coming to a close.
The election of Raphael Warnock and Jon Ossoff in Georgia Senate races handed control of the Senate to the Democrats, who have already won control of the House of Representatives and the White House for 2021.
Federal Reserve officials debated how to clarify their plans for adding to their $7.4 trillion asset portfolio at their meeting last month amid an unusual economic outlook, which featured a second wave of Covid infections and accounting for the imminent distribution of vaccines. ....

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Consumer Cos Climb After President Signs Stimulus Bill -- Consumer Roundup


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Shares of retailers and other consumer companies rose amid expectations that most U.S. consumers will soon receive $600 checks, thanks to the passage of the second stimulus bill.
While some observers, including President Donald Trump, argue that the payments are not enough to cushion the financial pain of the pandemic, economists say the $900 billion stimulus bill could bolster the economy during the rollout of Covid vaccines.
All indications are that traffic in bricks-and-mortar retail stores was down dramatically from a year earlier because of the pandemic, but one brokerage said the last week of holiday shopping saw an up-tick from earlier in the month. ....

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