US earnings beats spurring bigger stock gains, says Morgan Stanley

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

US earnings beats spurring bigger stock gains, says Morgan Stanley

Investing.com -- Earnings beats in the ongoing Q3 reporting season are leading to stronger stock gains compared to previous quarters, according to Morgan Stanley strategists.companies having reported results, the market has shown a clear distinction in performance following earnings per share beats or misses. Notably, stocks outperforming expectations saw a median increase of 2.3% the day after reporting, a clear rise compared to the 0.8% increase over the previous four quarters.

Morgan Stanley also noted that while the consensus estimate for 2024 earnings has decreased, aligning more closely with their own estimate of $239, the consensus for 2025 has recently declined as well. Moreover, Morgan Stanley’s team said it remains confident in its recent shift toward Cyclicals and the upgrade of the Financials sector.

Earnings results so far have supported this view, with 92% of large-cap banks under Morgan Stanley's coverage beating operating EPS estimates and all surpassing revenue expectations.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 450. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Morgan Stanley says Constellation could top $300 on nuclear restart, these stocks could also riseThe Baltimore-based nuclear operator's move to restart Three Mile Island could lead to more such deals, benefiting renewable and natural gas stocks as well.
Source: CNBC - 🏆 12. / 72 Read more »