Morgan Stanley reports Q2 EPS $1.30, consensus $1.11
Reports Q2 revenue $10.6B, consensus $10.1B
Morgan Stanley raises quarterly dividend to 30c per share
Share repurchase of up to $4.7B authorized through 2Q19
Morgan Stanley authorizes $4.7B share repurchase program
During the quarter ended June 30, the Firm repurchased approximately $1.25B of its common stock or approximately 24M shares. The Board of Directors authorized a share repurchase of up to $4.7B of common stock beginning in the third quarter of 2018 through the end of the second quarter of 2019
Technical Take: Morgan Stanley moves higher after stronger earnings
The stock was last up over 3.4% to $50.89 in pre-market trading. At that price next resistance is at $52.15. Support is at the $50 area
Morgan Stanley CEO: 'reported robust revenue and earnings growth this quarter'
James Gorman, Chairman and CEO, said, "We reported robust revenue and earnings growth this quarter with strength across all businesses and geographies. The second quarter performance reflected active markets and healthy client engagement. Our strong global franchise positions us well to continue to grow organically across each of our businesses and to deliver operating leverage.
