Bank of America and Morgan Stanley Earnings Boost Wall Street
Bank stocks, including Morgan Stanley (MS) and Bank of America (BAC), are at or near record highs after releasing their earnings reports.
Morgan Stanley reported adjusted third-quarter earnings of $2.80 per share on $18.22 billion in revenue, exceeding estimates. This marks the largest earnings beat in five years for the company.
- Morgan Stanley's stock is 6% higher, trading at $164.92, with a record high of $166.77 earlier in the day.
- The stock is 32.2% higher in 2025, with 52,000 calls changing hands, 12 times the average intraday amount.
- Bank of America's stock is up 5.4% to trade at $52.
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Author's summary: Bank stocks boost Wall Street with strong earnings reports.
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