News
MS-PRA
22.22
-0.05%
-0.01
UPDATE 1-BGC Group's FMX Futures gets funding from banking consortium
BGC Group's FMX Futures gets funding from banking consortium. The exchange platform will rival CME Group in the interest rates derivatives market. FMX is expected to launch in September 2024. The consortium includes Bank of America, Citigroup and Goldman Sachs. BGC Group says its exchange platform valued at $667 million.
Reuters · 11h ago
UPDATE 2-BGC Group's FMX Futures takes aim at 'heavyweight champ' CME
BGC Group's FMX Futures platform joins forces with Wall Street's biggest banks to take on CME Group. FMX currently offers trading in cash U.S. Treasuries and spot currencies. Group of financial firms including Bank of America make minority equity investments in FMX. FMx aims to compete with CME in the interest rates derivatives market.
Reuters · 11h ago
UPDATE 3-BGC Group takes aim at 'heavyweight champ' CME exchange
BGC Group's BGC.O FMX business to take on leading exchange operator CME Group. Financial firms including Bank of America and Goldman Sachs make minority equity investments in FMX. FMX aims to compete with CME in the interest rates derivatives market. CME has 99% of the futures market in America.
Reuters · 11h ago
BUZZ-Aerospace parts maker Loar soars >70% in stellar debut
Aerospace parts supplier Loar's shares soar >70% in debut on Thursday. Stock rises as much 73% to $48.43 early on. Loar announced 11 mln shares for $308 mln in its IPO. IPO was marketed in range of $24-$26.
Reuters · 11h ago
Private equity owner of Sauer Brands explores sale of condiments maker, sources say
Private equity owner of Sauer Brands explores sale of condiments maker, sources say. Sauer is known for its Duke's Mayonnaise brand, founded in 1887. Charlotte-based private equity firm Falfurrias Capital Partners is expecting to value company at more than $1 billion.
Reuters · 14h ago
UPDATE 2-PE firm GTCR to buy wealth management platform AssetMark for $2.7 bln
PE firm GTCR to buy wealth management platform AssetMark for $2.7 bln. AssetMark's shareholders will get $35.25 per share in cash. Private equity firm has made big gains in healthcare, financial and technology markets. The firm manages $40 billion of equity and its portfolio includes Worldpay.
Reuters · 16h ago
UPDATE 3-PE firm GTCR to buy wealth management platform AssetMark for $2.7 bln
PE firm GTCR to buy wealth management platform AssetMark for $2.7 bln. The acquisition will help expand GTCr's footprint in the financial services industry. AssetMark's shareholders will get $35.25 per share in cash. The firm manages $40 billion of equity and was founded in 1980.
Reuters · 16h ago
UPDATE 1-Lazard posts first-quarter profit on jump in assets
Lazard's assets under management rose to $250 billion in the first quarter from $232 billion a year earlier. Firm's asset management revenue rose 4% to $295 million. Revenue at Lazard's financial advisory segment rose 63% in the quarter. Lazard posts first-quarter profit on jump in assets.
Reuters · 17h ago
UPDATE 3-Lazard posts better-than-expected profit on deals, assets boost
Lazard posts better-than-expected profit on deals, assets boost in first quarter. Investment bank's adjusted revenue jumped 42% to $747 million. Firm advised on a string of high-profile mergers and acquisitions in the quarter. Lazard's assets under management rose to $250 billion from $232 billion.
Reuters · 17h ago
UPDATE 4-Lazard profit beats estimates as dealmaking rebound fuels record revenue
Lazard's first-quarter profit beats estimates as dealmaking rebound fuels record revenue. Firmwide and advisory revenues surged to record levels. The bank advised on a string of high-profile deals in the first quarter. Lazard's adjusted revenue jumped 42% to $747 million.
Reuters · 17h ago
UPDATE 2-Lazard posts first-quarter profit on deals, assets boost
Lazard posts first-quarter profit on deals, assets boost. Investment bank's profit boosted by a string of high-profile mergers and acquisitions it advised on in the first quarter. Lazard's assets under management rose to $250 billion in the quarter from $232 billion a year earlier.
Reuters · 17h ago
BT GROUP PLC MORGAN STANLEY - HOLDING(S) IN COMPANY
Reuters · 19h ago
China stands by economic data, says defence spending 'transparent'
China stands by economic data, says defence spending 'transparent' U.S. Admiral says China's economy battered by turmoil in real estate sector. In March, China said it would boost defence spending by 7.2% this year. China says its economic data has always been open and transparent.
Reuters · 23h ago
UPDATE 2-Morgan Stanley Asia private equity unit to reorganise as CEO retires
Morgan Stanley Asia private equity unit to reorganise as CEO retires. Chief executive of Asia Chin Chou is retiring. Morgan Stanley will carve out a China-focused team from the rest of the region. The firm has appointed Jun Xu to lead all private equity investing in China.
Reuters · 1d ago
Raymond James Q2 profit rises on strong capital markets performance
Raymond James Q2 profit rises on strong capital markets performance. Revenue in the capital markets unit jumped 6% to $321 million in the January-to-March quarter. M&A volumes globally climbed 30% to about $755.1 billion in the first quarter. Raymond James posted 11% rise in second-quarter adjusted profit.
Reuters · 1d ago
UPDATE 5-UK sells 30-year bond at record-high yield as prices slide
UK sells 6.75 billion pounds of 30-year bond at record-high yield as prices slide. Investors placed third-highest volume of orders on record for a gilt syndication. The sale took place against the backdrop of a slide in government bond prices. The yield on the bond reached a five-month high of 4.806% on Wednesday.
Reuters · 1d ago
LIVE MARKETS-Europe eyes higher start as earnings kick into high gear
Europe eyes higher start as earnings kick into high gear. FTSE 100 futures point to another positive day for European stocks. Tesla kicks off the earnings cycle for U.S. Technology heavyweights. Luxury stocks in Europe come into focus after Kering forecast a 40-45% plunge in H1 operating profit.
Reuters · 1d ago
Tesla's Frankfurt-listed shares bounce after promise of new models
Tesla's Frankfurt-listed shares bounce after promise of more-affordable models. Tesla said on Tuesday it would introduce models by early 2025. The electric vehicle maker's shares rose 12% in early trading on Wednesday. Tesla has struggled with fierce competition and falling sales in recent months.
Reuters · 1d ago
PREVIEW-Goldman and BofA face renewed calls to split CEO, chairman's roles
Goldman Sachs and Bank of America face renewed calls to split CEO, chairman's roles. Proxy advisers recommend investors vote for the banks to separate their CEO and chairman roles. After the 2008 financial crisis, investors seeking to improve risk oversight mounted efforts to split the roles. Goldman and BofA contend that their lead independent board directors provide sufficient oversight.
Reuters · 2d ago
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About MS-PRA
Morgan Stanley is a global financial services company. The Company, through its subsidiaries, provides a range of investment banking, securities, wealth management and investment management services. Its segments include Institutional Securities, Wealth Management and Investment Management. Its Institutional Securities segment provides investment banking, equity and fixed income, and lending activities to corporations, governments, financial institutions and high net worth clients. Its Wealth Management segment provides financial services and solutions to individual investors and small-to-medium sized businesses and institutions covering: financial advisor-led brokerage, custody, administrative and investment advisory services; self-directed brokerage services; financial and wealth planning services; residential real estate loans and other lending products; banking; and retirement plan services. Its Investment Management segment provides a range of investment strategies and products.