Morgan Stanley Reports Q4 Results, Joins Boeing, Alcoa And Other Big Stocks Moving Lower On Tuesday
Portfolio Pulse from Avi Kapoor
Morgan Stanley (NYSE:MS) reported Q4 earnings with a net profit of $1.5 billion, down from $2.2 billion the previous year, but beat revenue expectations with $12.9 billion. The stock fell 4.6%. Other stocks also moved lower, including Spirit Airlines (SAVE), Gol Linhas (GOL), Applied Digital (APLD), and Boeing (BA), among others, due to various factors such as poor financial results, analyst downgrades, and restructuring plans.
January 16, 2024 | 6:17 pm
News sentiment analysis
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NEGATIVE IMPACT
Alcoa Corporation shares fell 6.7% after UBS analyst initiated coverage with a Sell rating and a price target of $29.
New coverage with a Sell rating from a reputable firm like UBS can lead to negative investor sentiment and a decrease in stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
Applied Digital's stock declined 22% after reporting worse-than-expected Q2 financial results and lowering its fiscal year 2024 guidance.
Significantly missing earnings expectations and reducing future guidance are strong indicators of potential continued negative performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95
NEGATIVE IMPACT
Boeing's stock declined 7.8% to $200.61 after Wells Fargo downgraded the stock from Overweight to Equal-Weight and lowered its price target.
The downgrade by a major financial institution like Wells Fargo can significantly impact investor sentiment and stock price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Morgan Stanley reported lower Q4 net profit but exceeded revenue expectations. Despite the beat on revenue, shares dropped 4.6%.
The drop in share price despite beating revenue forecasts suggests market concerns over profitability and possibly future earnings outlook.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100