Tuesday, 25 July 2017 00:00

Morgan Stanley Overtakes Goldman

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(New York)

After years trailing behind its biggest rival, Morgan Stanley’s stock did something it hasn’t for years yesterday—it overtook Goldman Sachs in market cap. After a stock gain yesterday, combined with a GS fall, Morgan Stanley’s valuation is now $86.40 bn, ahead of Goldman’s $85.88. The bank’s fixed income division has been surging of late, boosting sentiment amongst investors. Goldman’s FICC division has been headed in the exact opposite direction, with a steep fall in their most recent quarterly earnings.

FINSUM: James Gorman has done a great job steering Morgan Stanley and boosting their ROI. We like the overall direction of the bank.

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