Morgan Stanley

Money Moves

Global investment bank and wealth manager

Q3 earnings season opened strong for asset managers and some banks. BlackRock pulled in $205 billion in client money, lifting assets to $15.5 trillion, and Morgan Stanley beat estimates with $20.3 billion in revenue. Goldman Sachs posted $18.7 billion in revenue, a blowout, according to Fortune.

Updated Nov 1

Money Moves

Beat Q3 estimates on equities surge and IPO-fueled wealth growth

JPMorgan Chase missed profit estimates for the first time since late 2023, while Goldman Sachs beat by 30% and Morgan Stanley topped expectations. The gap came down to equities trading, which rose 72% at Goldman and 49% at JPMorgan. Treasury yields had their biggest quarterly rise since 2009, which cooled bond desks.

Updated Nov 1

Money Moves

Predicting further downside

The STAR50 index is still about 40% below its summer peak, a four-month slide that erased roughly $480 billion from Shanghai's largest technology and chip stocks. It rose 2.45% on October 28, a day after falling 4.8%.

Updated Oct 30

Built World

Funded and staffed Madsen Park playground build

Madsen Park closed October 26 for a $1.15 million rebuild, Salt Lake City's parks department said. It will stay fenced until spring 2027. Crews are expanding the playground and adding a game zone with cornhole, ping pong and chess tables, a half-court basketball area, an off-leash dog area, lighting and drinking fountains.

Updated Oct 27

Money Moves

As of August 2026: Co-lead underwriter on SPCX; reiterated Overweight rating and Street-high $300 price target on August 6 lockup day

SpaceX's first lockup wave freed 911.5 million insider shares on August 6, more than doubling the stock's tradable float to 11.8% of shares outstanding from 4.9%. SPCX touched a new intraday low of $105.11, below the July 28 record of $107.01. Heavy selling never showed up: shares reversed and traded higher for much of the day, at one point up as much as 6%.

Updated Aug 6

Money Moves

As of May 2026: Posted record equities trading revenue in Q1 2026

The six largest American banks wrapped up first-quarter 2026 reporting with combined net income of $47.3 billion, with trading floors thriving on Iran war volatility even as the outlook darkened. JPMorgan earned $5.94 per share on $50.54 billion in revenue as fixed-income trading surged 21 percent to $7.08 billion, while Citigroup posted its best quarterly revenue in a decade at $24.63 billion. Bank of America earned $1.11 per share, its highest in nearly two decades. Morgan Stanley posted a record equities trading quarter of $5.15 billion and a 29 percent jump in profit. Goldman Sachs led the week with record equities trading revenue of $5.33 billion. The banks announced roughly 5,000 job cuts, using the profit windfall to trim headcount rather than expand.

Updated May 31