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MS YTD mountain Morgan Stanley YTD We certainly hope Morgan Stanley's numbers are as good as Friday's report from our other bank holding Wells Fargo (WFC). Morgan Stanley is expected to grow revenue by more than 2% year over year to $13.2 billion in the third quarter. During a recent conference, Morgan Stanley executives said that capital markets will likely improve in 2024. Shares of Morgan Stanley have struggled this year, dropping more than 8% compared to the S & P 500's nearly 13% advance in 2023. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
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After strongly outperforming the broader market in 2022, defense stocks are poised to have another solid year in 2023, according to Morgan Stanley. Still, the firm thinks it's a good time to buy defense stocks. It also makes sense given changes to the U.S. defense budget and potential economic weakness ahead, she said. "We see NOC well-aligned to some of the fastest-growing areas of the US defense budget, including space and nuclear modernization," she said. "We also see particular durability in NOC's portfolio and expect its programs to remain well-funded even if defense spending is pressured, limiting downside risk in a Bear scenario."
JPMorgan Chase (JPM) – JPMorgan Chase shares added 2.3% in the premarket after beating top and bottom line estimates for the third quarter. The bank's results were boosted by higher net interest income, helping offset lower deal-making revenue and higher loan loss reserves. UnitedHealth Group (UNH) – The health insurer rose 1.6% in the premarket after beating top and bottom line estimates for the third quarter and raising its outlook. Nutanix (NTNX) – The cloud computing company's shares surged 15.9% in the premarket after the Wall Street Journal reported that Nutanix is exploring a possible sale. Beyond Meat (BYND) – Beyond Meat slumped 8.7% in the premarket after reducing its revenue outlook and announcing another round of job cuts, pointing to reduced demand for its plant-based meat products and increasing competition.
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