This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Morgan Stanley: Financial Winner

NEW YORK (TheStreet) -- Morgan Stanley (MS) was the winner among the largest U.S. financial companies on Thursday, with shares rising 3% to close at $17.86.

The broad indexes ended mixed after a late-session fade, with Apple (AAPL) shares declining 2% to close at $628.10, after a federal appeals court overturned an injunction banning Samsung from selling its Galaxy Nexus smartphone, after a Jury in August awarded Apple $1.05 billion in damages, ruling that Samsung had violated several iPhone patents.

Reuters reported that the U.S. Court of Appeals for the Federal Circuit, ruled the lower district court in in California had "abused its discretion in entering an injunction."

For its fiscal fourth-quarter ended Sept. 30, the consensus among analysts polled by Thomson Reuters is for Apple to report earnings of $8.91 a share, declining from $9.32 in the fiscal third quarter, but increasing from $7.05 during the fourth quarter of fiscal 2011.

Financial stocks showed strength after Bloomberg reported that the European Union was considering a delay for the implementation of Basel III capital requirements.

A downgrade of Spain's sovereign debt by Standard & Poor's seemed to be embraced by investors, who hope the country will soon make a formal request for financial assistance.

Citigroup analyst Deane Dray said that "investors should be braced for a choppy 3Q12 earnings season, punctuated with cautious commentary and tepid topline growth due to macro slowing," but that despite the pressure on stocks, the Federal Reserve's QE3 "counterpunch" was "buoying prices to multi-year highs." For the broad market, Dray said "the best news is likely to be centered around encouraging positives in Energy, Commercial Aero OE, and Resi," and that Citi was continuing "to recommend higher-quality, late-cycle names, with better earnings visibility," including General Electric (GE), Honeywell (HON) and Danaher Corp. (DHR).

Guggenheim analyst Marty Mosby painted a rosier picture in his third-quarter earnings preview for large-cap banks, saying on Thursday that "we are forecasting 4% sequential growth in operating earnings per share this quarter, twice the current market expectation. This would represent the 7th positive quarterly earnings surprise since 4Q10."

Mosby advised investors not to "get lost on the headwinds for revenue growth," and said that "as the Large Cap Banks are still in earnings recovery mode, efficiency improvements are just as important." The analyst expects efficiency improvements to be "responsible for ~100% of this quarter's expected sequential increase in operating EPS."

Stock quotes in this article: C, AAPL, MS, I:BKX 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs