Why Morgan Stanley Stock Rocked the Market Today

Morgan Stanley (NYSE: MS) commemorated this year's Tax Day by releasing its latest set of quarterly results on Wednesday. As it comfortably beat the consensus analyst estimates on both the top and bottom lines, investors were eager to get their hands on the bank's stock, and it closed the day nearly 5% higher. That compared very favorably to the S&P 500 index's 0.8% increase.Morgan Stanley's first quarter of this year saw the sprawling company book net revenue of just under $20.6 billion, for a healthy year-over-year gain of 16%. Net income under generally accepted accounting principles (GAAP) also increased robustly, rising 29% to almost $5.6 billion ($3.43 per share). Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool