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Big banks are kicking off earnings season this week, with JPMorgan Chase (JPM) weighing on the market today. The sector hit a snag yesterday as well, after President Donald Trump called for a 10% cap on credit card rates for one year.
Morgan Stanley's (NYSE:MS) fourth-quarter report is due out before the open on Thursday, Jan. 15. Per Zacks Investment Research, analysts expect earnings of $2.41 per share on revenue of $17.32 billion, a year-over-year increase of 8.6% and 6.8%, respectively.
Looking back, Morgan Stanley's shares have enjoyed mostly positive post-earnings moves, finishing higher after six of its last eight reports. The stock has averaged a 3.2% next-day swing, regardless of direction, over the last two years, while the options pits price in a much larger 6.3% move this time around.
MS was last seen down 2% at $182.76, extending a pullback from its Jan. 6 record high of $188.82. Year over year, the equity is up 47.3%.
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