Wall Street Goes 0-2 As IB Slump Dents Results

With two reports on the books for second quarter earnings, Wall Street was 0 for 2. On the heels of underwhelming results from JPMorgan, which missed estimates on a number of fronts and suspended buybacks, Morgan Stanley likewise came up short. Revenue of $13.13 billion missed estimates, as did adjusted EPS of $1.44. James Gorman described "a more volatile market environment than we have seen for some time." Consistent with a very challenging backdrop for fees, IB was weak at Morgan Stanley,

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One thought on “Wall Street Goes 0-2 As IB Slump Dents Results”

H-Man, not a surprise based upon the market performance for the first six months. I see China just reported and the numbers are ugly. The US market and world markets are simply inundated with bad news on every front. Looking for a silver lining is a fool’s errand.