Morgan Stanley up 1.6% on Strong Q1 Earnings

Morgan Stanley

is trading higher on the session following its Q1 earnings announcement this morning. The company reported an EPS of EPS $0.71 excluding DVA vs $0.45 estimate and revenues of $8.9 billion excluding DVA vs $7.33 billion estimate. James P. Gorman, Chairman and Chief Executive Officer, said, "This quarter is further evidence that Morgan Stanley has rebounded from the financial crisis of 2008 and is in a significantly stronger position. Revenues of $8.9 billion, excluding the impact of DVA, were higher on both a year-over-year and a quarter-over-quarter basis. Of particular note was the strength in sales and trading, which showed broad-based gains across products and regions. In addition, our global alliance with MUFG continues to strengthen, with improving operating performance in our securities joint venture in Japan and continued loan growth in the U.S." Morgan Stanley is cunrrently trading at $17.95, a gain of $0.29 or 1.64%.