Keith Horowitz

Gorman Path to High Returns Gets Mixed Review as Stock Leaps

Morgan Stanley Chief Executive Officer James Gorman’s plan to boost returns has split analysts as they debate whether his strategy will satisfy investors. The market says it can.

BofA Joins Citigroup Share Slump as CEOs Grapple With Costs

Bank of America Corp. and Citigroup Inc. posted two of the three biggest declines in the Standard & Poor’s 500 Index after results fell short of those at rivals as managers had to focus on cutting costs.

Bank of America May Divest CCB Stake to Avoid Share Sale, Citigroup Says

Bank of America Corp. , facing an estimated $18 billion bill to resolve mortgage and foreclosure disputes, may cover the cost by liquidating its stake in China Construction Bank Corp., according to Citigroup Inc.

Bank Profits Depend on Debt-Writedown ‘Abomination’ in Forecast

Bank of America Corp. and Wall Street firms that notched perfect trading records in the first quarter are now depending on an accounting benefit last used in the depths of the credit crisis to prop up their results.

Morgan Stanley Beats Estimates on Fixed-Income Gains

Morgan Stanley, the sixth-largest U.S. bank, reported third-quarter results that beat analysts’ estimates as revenue from fixed-income trading almost doubled from the second quarter.

Goldman Estimates Fall as Analysts See Weak Trading Revenues at U.S. Banks

Bank investors may have to wait at least another quarter for trading to rebound as analysts expect lower trading revenue in the current period, the fifth straight year-over-year drop, amid weaker volume and market declines.

Morgan Stanley Shares Decline After Earnings Tumble 50%

Morgan Stanley fell in New York trading after reporting a 50 percent drop in earnings on the biggest decline in trading revenue among Wall Street firms. The company said it will cut headcount by 4,000 this year.

Morgan Stanley Misses Estimates as Trading Revenue Plunges

Morgan Stanley reported a 50 percent drop in earnings and said it will cut more jobs as revenue from trading stocks and bonds declined the most among Wall Street banks.

JPMorgan Lead Over Morgan Stanley Widening on Rating Cuts

Potential downgrades of banks including Morgan Stanley and UBS AG, which could have their credit ratings cut by Moody’s Investors Service to the lowest level ever, threaten to shake up Wall Street’s balance of power.

BofA Profit Estimates Cut by Citigroup, KBW

Bank of America Corp., the worst performer in the Dow Jones Industrial Average last year, had profit estimates cut by analysts at Citigroup Inc. and KBW Inc. this week on higher projected losses for soured mortgages.

"Progress has been made with divestitures and cost cuts."

- Keith Horowitz on Jan 17, 2013

New York

James Gorman

S&P 500 Falls on IMF Growth Forecast as Treasuries Rise

U.S. Stocks Fall on IMF Outlook, Warning on Stimulus Exit

Myriad Gene Patent Ruling Triggers Race for Cancer Tests

Detroit on Brink of Bankruptcy Suspends Some Debt Payments

Singapore Censures 20 Banks on Traders’ Bids to Manipulate Rates