Q3 2026
EPS
$3.03
est $2.92+3.9%
Revenue
$20.34B
est $20.11B+1.1%
Equity trading revenue jumped 41% to $5.80 billion, carrying a sixth straight EPS beat and record Wealth Management revenues.
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Latest Activity
A near $900 million equity-trading beat is the clearest read yet that volatile markets are paying the big banks, and it lands the same morning a hot CPI report is pushing yields higher.
BREAKING: Morgan Stanley $MS crushes 3Q equity trading revenue $5.8 billion vs $4.9 estimates EPS: $3.03, beating est. $2.91 https://t.co/ftTIPEr5I1
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- Likes16
Reports Wed Oct 14Before open7:28 AM ETConfirmed
Morgan Stanley reports at 7:28 AM ET with a 10-quarter earnings beat streak on the line, and consensus sits at $2.92 a share on $20.11 billion in revenue. Last quarter's $3.46 cleared estimates by nearly 20%, so anything in line reads as a slowdown.
Earnings on deck — Oct 12–16
51 companies38 before open13 after close
Q3 earnings season front-loads everything into two mornings: JPMorgan, Goldman, Wells Fargo, Citi, UnitedHealth and Johnson & Johnson all report before the open Tuesday, with Bank of America, Morgan Stanley, BlackRock and ASML following Wednesday. Of 51 companies on the week, 38 land before the bell, so the tone for rates, credit and chip demand gets set early.
- UNHUnitedHealth Group IncorporatedTue Oct 13Before open
- JPMJPMorgan Chase & Co.Tue Oct 13Before open
- GSThe Goldman Sachs Group, Inc.Tue Oct 13Before open
- WFCWells Fargo & CompanyTue Oct 13Before open
- DPZDomino's Pizza, Inc.Tue Oct 13Before open
- JNJJohnson & JohnsonTue Oct 13Before open
- CCitigroup Inc.Tue Oct 13Before open
- ACIAlbertsons Companies, Inc.Tue Oct 13Before open
- FBKFB Financial CorporationTue Oct 13Before open
- AZZAZZ Inc.Tue Oct 13After close
- ASMLASML Holding N.V.Wed Oct 14Before open
- BACBank of America CorporationWed Oct 14Before open
- MSMorgan StanleyWed Oct 14Before open
- BLKBlackRock, Inc.Wed Oct 14Before open
- PGRProgressive CorporationWed Oct 14Before open
PodcastMad Money w/ Jim Cramer
Mad Money w/ Jim Cramer 10/1/26
- Cramer still buys Palantir at $190 after the stock gained 60% in Q3 and stalled short of his $250 target
- Salesforce, up 46.5%, called the better SaaS-apocalypse rebound than Veeva at 30 times earnings
- Caterpillar's 24% Q3 profit taking framed as a buying chance on data center engine demand
- IBM, down 22% on its miss, gets the wait-a-quarter rule; Home Depot stays hostage to rates
Cramer wants to add software as the bounce-back trade and the beaten-down industrial names tied to data center power. He also warns that rising rates are the real threat heading into earnings season in a couple of weeks.
- 1MSsplit77 comments · 1.8K upvotes
- 2MCDbearish285 comments · 831 upvotes
- 3AMDsplit149 comments · 924 upvotes
- 4CVXbullish162 comments · 508 upvotes
- 5SPYsplit240 comments · 161 upvotes
No single obsession today: retail traders are arguing over Morgan Stanley, AMD and SPY, piling on McDonald's with 285 comments of complaints, and warming to Chevron. The quieter tell is the rotation, with QQQ chatter heating up fast while Broadcom talk sours.
Source: RedditHolders of Eaton Vance state muni mutual funds and closed-end funds would get intraday liquidity and likely cheaper fees if the $10 billion conversion clears; watch the filing for the fee tier Balchunas flags as the swing factor.
Morgan Stanley is going to convert $10b worth of Muni mutual funds into ETFs. Looks like that’s what this filing was. https://t.co/9Oa0pgj6UY https://t.co/be5TD3JEk2 [Quoted @EricBalchunas]: Morgan Stanley with the rare ETF filing, this one for a slew of Eaton Vance state muni ETFs which are curr in CEF or MF form only. These should do well imo esp if fee is at Inst class or lower. https://t.co/21rGVxkduD
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MS Coverage
12:45pm ET
Investing
UnitedHealth is Down Big Over 3 Months: A Big Bank Says 40% Gains to Come After Raising Their Target
UnitedHealth has shed members, slipped 10% in three months, and closed lower on a beat-and-raise quarter. Now a major Wall Street firm is calling for 40% gains, and its argument centers on…
6:28am ET
Investing
Jamie Dimon Warns Of Forces That “Continue To Shift Under The Surface,” As Half Of Russell 3000 Stocks Sit In A Bear Market With The S&P 500 Near Records
Jamie Dimon says dangerous forces are shifting beneath a seemingly calm surface, and the stock market tells a strikingly similar story. The index near record highs conceals a hidden collapse spreading quietly…
7:40am ET
Investing
Wealth, Assets and Custody: What to Watch When Morgan Stanley, BlackRock and State Street Report
Morgan Stanley, BlackRock, and State Street all report before the open Wednesday, and Jim Cramer says they are priced for disappointment. Whether that sets up a surprise rally or confirms that rising…
12:53pm ET
Investing
eBay Climbs 5% as Morgan Stanley Names It Top Internet Pick on Live Commerce; Shopify Rises 3%, Etsy Ticks Up
Morgan Stanley (NYSE:MS | MS Price Prediction) named eBay (NASDAQ:EBAY) its top internet pick, saying that live streaming auctions have become a growth engine for the marketplace, and eBay stock is catching…
9:20am ET
Investing
Eli Lilly’s Biggest Shareholder Just Filed to Sell $347 Million of Stock
Lilly's largest shareholder just filed to unload nearly $350 million in stock while analysts keep raising their price targets, and those two facts point in opposite directions for investors trying to read…
2:00pm ET
Social Security
Morgan Stanley Is Bringing 3,800 Jobs to Dallas. A Bonus Paid After Retirement Can Land on a W-2 Without Cutting Social Security
A retiree collects his last bonus from a decades-long career and watches it land on his W-2 alongside new part-time wages, setting up a Social Security withholding nightmare that a little-known IRS…
Gerelyn Terzo 5:33pm ET
ETF
Morgan Stanley Wants to Convert Nearly $10 Billion in Municipal Mutual Funds Into ETFs. Shareholders Must Approve First
Morgan Stanley proposes converting eight Eaton Vance municipal bond mutual funds holding nearly $10 billion into ETFs. Here’s what changes for shareholders.
12:30pm ET
Investing
Wells Fargo’s Higher Dividend Yield Masks JPMorgan’s Superior Dividend Safety Record
Wells Fargo pays the higher dividend yield right now, but retirees living off that check need to ask what happened the last time a crisis hit and whether history is about to…
10:30am ET
Investing
NVIDIA Just Hit a New Buy Point. Morgan Stanley Raised Its Target. Where Does It End?
Morgan Stanley just raised its NVIDIA target as the stock closes in on all-time highs, but margin compression and a $50 billion financing controversy raise real questions about how much runway this…
7:58am ET
Investing
Billionaire Hedge Fund Founder Ray Dalio Warns China And Japan May Pull Back From U.S. Treasuries, But One Economist Says Hedge Funds Are A Bigger Threat
Ray Dalio sees China and Japan retreating from U.S. Treasuries, but a Federal Reserve economist points to a different group of creditors as the greater danger to the market.
AJ Tiarsmith 7:15am ET
Investing
SpaceX Wants to Borrow $40 Billion to Buy Nvidia Chips
SpaceX is racing to raise tens of billions in borrowed money to lock in an exclusive chip supply deal, and the timing raises questions about who really benefits when the money moves.
4:51am ET
Cryptocurrency
Morgan Stanley Runs Bitcoin, Ethereum and Solana ETFs at a 0.14% Fee. Which Coin Gets Its Money First?
Morgan Stanley (NYSE:MS | MS Price Prediction) offers three crypto ETFs: the Bitcoin Trust (NYSEARCA:MSBT), the Ethereum Trust (NYSEARCA:MSSE), and the Solana Trust (NYSEARCA:MSOL), each with a modest annual fee of 0.14%.…
1:00pm ET
Investing
Berkshire Bought $193 Million More Lennar. Abel Doesn’t “Envision a Quick Recovery”
Berkshire keeps buying Lennar shares even as the stock sinks below what it paid, a short seller questions the company's reported deliveries, and Greg Abel himself admits he sees no quick recovery…
12:04pm ET
Investing
AST SpaceMobile Is Soaring After State Dept. Endorses LEO Satellite Cooperation with Japan
AST SpaceMobile (NASDAQ:ASTS) gained 8.38% to $63.34 in Tuesday trading. The jump came after Washington publicly backed the company’s satellite partnership with Japan’s Rakuten. Before the move, the stock had fallen 11.62%…
9:45am ET
Investing
60% of Wall Street’s Ratings on S&P 500 Stocks Are Now Buys, the Most on Record
Wall Street has never been this bullish on S&P 500 stocks, and that near-unanimous optimism may be exactly what puts SPY holders at risk heading into earnings season.