MS now joining C in the -7% club for the day

Another crazy day, -4% open at the bell 15.74

 

Morgan Stanley to cut 1,600 jobs in first quarter

http://www.marketwatch.com/story/morgan-stanley-to-cut-1600-jobs-in-first-quarter-2011-12-15

 

NEW YORK (MarketWatch) -- Morgan Stanley MS +0.73% plans to eliminate 1,600 positions across the investment bank early in the first quarter of 2012 as it joins the chorus of financial firms cutting jobs amid poor business conditions.

The layoffs, to take place globally across all of the firm's job levels, would represent 2.6% of the 62,648 employees Morgan Stanley reported as of the end of the third quarter.

A company spokesman confirmed the layoffs would follow Morgan Stanley's "year-end performance management process" and its evaluation of the "right size of the franchise."

While the job cuts will include layoffs within Morgan Stanley's global wealth management unit, none of the firm's roughly 17,290 financial advisers will be affected, the spokesman said.

Banks across the financial-services industry, including Goldman Sachs Group Inc.GS -0.33% and Citigroup Inc. C +0.69% , have slashed their headcounts since last spring amid subdued client activity levels as concerns about the European debt crisis have swirled and high market volatility has persisted.

Before Thursday, Morgan Stanley hadn't announced any widespead job cuts, though it had already launched a three-year expense-savings initiative, in which it plans to save $1.4 billion.

News of the planned layoffs was reported earlier Thursday by Bloomberg News.

Shares of Morgan Stanley recently rose 3.5% at $15.58, slightly higher than the broader rally by the market and among bank stocks. The company's shares are down 43% year to date.

 

Morgan Stanley Posts Narrower Loss Than Expected

http://www.cnbc.com/id/46046385

Morgan Stanley posted a narrower loss than analysts had expectated Thursday, sending its shares higher in pre-market trading.

 

The investment bank posted a fourth-quarter loss excluding items of 14 cents per share, compared with a loss of 57 cents a share in the year-earlier period. Revenue was $5.7 billion.

 

Analysts had expected the company to report a loss of 57 cents per share on revenue of $5.57 billion, according to Thompson Reuters.

 

After the announcement, Morgan Stanley shares [MS  17.35    1.10  (+6.77%)   ] rose percent in pre-market trading.

• Get real-time quotes for Morgan Stanley here.

Loss of 14c vs loss of 58c expected is a lot better than the estimate.

 

MS +5% here but still below the Oct highs.

a secondary winner in facebook ipo...up 50% in 2 months and gapping up today again on all the IPO talks with their name on it...right into recent resist near 20...

looks like another visit to the $20's possibly coming up....

buying in before earnings

be careful...I think they got hit with a fine ( like BAC ) , so it may affect their earnings....but it may also have been factored in with the recent drop....too hard to tell on earnings....

 

good luck though

 

 

 

 

nice play!

Just wondering what the next support for MS are. If I want to apply TA on MS, what would be the best sites and tools to use. Thanks!

key levels here after this pullback...getting my feet wet today...with the chart the way it is and the fact that MS is one of the lead underwriters for FB ipo has me wondering about some momentum and reversal here ...we shall see

like to look back at my past thoughts sometimes...times like this i dont ....

up 80%+ since facebook IPO

woulda been nice...woulda taken some patience tho too