Morgan Stanley Shares Rise After Q1 Profit Beats Estimates

Morgan Stanley (MS) reported first-quarter earnings that surpassed the analysts’ estimates. Shares of the company were up more than 2 percent in premarket trade. The bank reported earnings of $ 1.39 per share compared with $ 1.45 per share a year ago. Total earnings declined 9 percent year-over-year to $ 2.34 billion. During the quarter, it recorded certain tax benefits of $ 101 million, or $ 0.06 per share. Excluding this, earnings were $ 1.33 per share. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $ 1.16 for the quarter. Analysts’ estimates typically exclude special items. Wealth Management delivered pre-tax income of $ 1.2 billion reflecting strong expense management.
RTT – Earnings

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Lyft threatens Morgan Stanley with legal action over IPO claims

Morgan Stanley is trying to distance itself from its role in helping early Lyft investors bet against the ride-hailing company after Lyft threatened to sue them and report them to regulators, The Post has learned. On Monday, The Post reported that Morgan Stanley, the lead underwriter for Uber’s upcoming IPO, had been helping Lyft’s pre-IPO…
Business | New York Post

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Northern Might: The Maple Leafs’ Homegrown Quest to Bring the Stanley Cup Back to Toronto

No NHL franchise matters more in Canada than the Maple Leafs (sorry Canadiens), and as Brendan Shanahan and his team of local stars look to end a 51-year Stanley Cup drought, the passion in Toronto feels renewed. 

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Director Stanley Donen, famed for landmark film ‘Singin’ in the Rain,’ dies at 94

Stanley Donen, the former dancer who directed some of Hollywood’s greatest musicals including Gene Kelly’s landmark “Singin’ in the Rain,” “Seven Brides for Seven Brothers” and “On the Town,” has died at age 94, according to media reports.
Reuters: People News

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Morgan Stanley fined $10M for anti-money laundering failures

Wall Street’s industry funded watchdog fined the brokerage unit of Morgan Stanley $ 10 million on Wednesday for compliance failures in the firm’s anti-money laundering program, the regulator said. The Financial Industry Regulatory Authority (Finra) said the lapses spanned more than five years, from January 2011 until April 2016. Morgan Stanley, which agreed to the fine…
Business | New York Post

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The Stanley Cup started Alex Ovechkin’s summer of joy. It might never end.

“It looks like he’s in the best mode ever,” Nicklas Backstrom said. “He’s just laughing all the time, which is great. He’s going to carry this over, I think. The way he was playing last year and the way he was relaxed, too, I think it’s just unbelievable for us in the locker room to see — how he carries himself.”
Sports

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