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U.S. Morning Call: Morgan Stanley beats revenue forecast

Thursday, Oct 18, 2012 - 03:19

Oct 18 - Morgan Stanley posted a third-quarter loss per share of $0.55, but beat revenue estimates with a net $7.6 billion.

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Morgan Stanley the last of the big US banks to report earnings let's kick up your morning call by taking a look at their numbers. Morgan Stanley's third quarter revenue coming in above estimates at seven point six billion but earnings were way off. They reported a loss of 55 cents per share compared to the street view of a rise of 24 cents per share. The bank also assault wealth management revenues kind of in line with estimates assets under management in trees. Shares of the bank trading up one point 2% after the results. Can you hear me now. Because we've got earnings from Verizon Wireless Telecom giant posted a 16%. Rise in quarterly profit. Helped by higher revenue at its wireless business. Rising got a boost from price your data plans and sales of the latest I found. Smartphones in general constituted more than 53%. Of the customer base up 3% from a year ago. No company that hasn't been doing well Smartphones circuit Nokia. Reported another quarterly loss and dwindling cash reserves but results were better than expected ahead of next month -- of the line. Shares of Nokia trading up 6% in the premarket. A number of brokerages raising their price target on eBay this morning after the outlook for holiday season. From Telecom detect the Google's third quarter results out today analysts expecting strong earnings from the number one search engine thanks to mobile web advertising. Along with its android Smartphone platform expand its global reach. So how much higher can stop now shares of Google touching 755. Dollars in Wednesday Wednesday's close. The PC pandemic is expected -- infected Microsoft's fiscal first quarter earnings. Consumers buy more apple and Amazon tablets but the company's banking on the release of windows eight later this month to boost profits. And chipmaker AMD faces skeptical investors when it -- third quarter results later today. Analysts are expecting a loss and with absolutely no mobile strategy the company shares have tumbled from the slowdown in PC sales. US stock futures point to a mixed open for Wall Street although the S&P 500 has risen for three consecutive days. Investors nervous after China's economy showed -- second quarter of slowing growth. With GDP coming in at seven point 4% for the period between July and September. But some say the worst may now be old car. In in September that was reported today. And we have also had there was a strong. Export numbers for September released. Over the weekend last weekend so those are -- -- signaling that. Globally I think there is some merit to that consider that perhaps pent up demand has been released. Later today -- happened to the US economy with initial jobless claims data and the Philly Fed index. That's all it Thursday morning call for more news follow us on Twitter at Reuters Insider and check out our -- YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is Reuters.

U.S. Morning Call: Morgan Stanley beats revenue forecast

Thursday, Oct 18, 2012 - 03:19

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