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Morgan Stanley’s CEO Preaches Patience to Uber Investors

"You should buy into IPOs to hold them, because you believe in the company," Morgan Stanley’s chief executive officer told reporters after the firm’s annual shareholders meeting Thursday. Gorman’s bank has faced blame as lead underwriter after Uber plunged following its widely anticipated initial public offering earlier this month. Uber tumbled 18% in its first two days of trading amid an abrupt flareup in U.S.-China trade negotiations that drove global markets down and the recent dismal perfo...
Tags: Science, China, Morgan Stanley, Gorman, Lyft Inc Uber


Tesla Woes Make It a ‘Restructuring Story,’ Morgan Stanley Says

“Tesla was seen as a growth story,” Morgan Stanley analyst Adam Jonas said on the call, a recording of which was obtained by Bloomberg News. Today, Tesla is not really seen as a growth story. Tesla shares extended a streak of declines to a sixth consecutive day, closing down 6% to $192.73, the lowest since December 2016.
Tags: Science, Tesla, Morgan Stanley, Adam Jonas, Morgan Stanley Says, Bloomberg News Today Tesla


Ambarella Drops as Analysts See Risks From Chinese Tech Blacklist

Morgan Stanley analysts led by Joseph Moore wrote in a note that one of those surveillance companies, Hangzhou Hikvision Digital Technology Co., likely makes up a high-teens percentage of Ambarella’s total revenue. The analysts said that Ambarella likely has similar exposure to Zhejiang Dahua Technology Co., which is also a focus of U.S. lawmakers. Shares of Ambarella are up 15% year-to-date after today’s move, short interest is 9% of float according to data tracked by Markit.
Tags: Science, Morgan Stanley, Ambarella, Joseph Moore, Hangzhou Hikvision Digital Technology Co, Zhejiang Dahua Technology Co


Morgan Stanley Slashes Worst-Case Price for Tesla to $10

“Demand is at the heart of the problem,” analysts led by Adam Jonas said a note. Jonas lowered his “bear case” for Tesla shares from a previous estimate of $97, which assumes Tesla misses its current sales forecast in China by about half, and kept a price target of $230. To boost demand, Tesla will have to aggressively expand into China, offer lower-priced sport utility vehicles and supply mobility fleets, according to Morgan Stanley’s Jonas.
Tags: Science, China, Tesla, Morgan Stanley, Jonas, Adam Jonas, Morgan Stanley Slashes Worst Case Price


Take-Two Analysts Say Conservative Forecast Good Enough for Now

The top end of that range “cleared investors’ recently falling hurdles,” according to Morgan Stanley, and many analysts noted that the company is typically conservative with its initial outlook for the year. Analysts still see significant growth opportunities from Red Dead Online and other game franchises. Peer Electronic Arts Inc. rose 1.6% and Activision Blizzard Inc. climbed 1.2%.
Tags: Science, Morgan Stanley, Activision Blizzard Inc, Red Dead Online, Peer Electronic Arts Inc


Take-Two Climbs as Conservative Views Good Enough for Street

The top end of that range “cleared investors’ recently falling hurdles,” according to Morgan Stanley, and many analysts noted that the company is typically conservative with its initial outlook for the year. Analysts still see significant growth opportunities from Red Dead Online. A primary reason to own the stock is recurrent consumer spending, which rose 20% in fiscal 2019.
Tags: Science, Morgan Stanley


Uber Blame Game Focuses on Morgan Stanley After Shares Drop

Now it gets to field the second-guessing after Uber Technologies Inc. tumbled 18% in its first two days of trading. Across Wall Street, questions are flying: Why did bankers including Morgan Stanley’s suggest a $120 billion valuation last year that Uber couldn’t deliver? Did the syndicate led by the firm set the IPO’s price too aggressively?
Tags: Science, Ipo, Morgan Stanley, Uber Technologies Inc


Morgan Stanley Got Clients Into Uber. Then the IPO Stumbled

In 2016, the firm offered its elite clientele a chance to get in early on Uber’s eventual market listing as the investment bank privately raised money for the ride-hailing platform. On Friday, the stock tumbled more than 7% on its debut, and pre-market trading points to a further loss of 2.1% on Monday, leaving those early buyers among the droves of everyday shareholders nursing losses -- at least for now. Morgan Stanley pitched wealth management clients a chance to invest in Uber via a fund d...
Tags: Uber, Science, Morgan Stanley, Morgan Stanley Got Clients Into Uber


Morgan Stanley Got Rich Clients Into Uber. Then the IPO Stumbled

In 2016, the firm offered its elite clientele a chance to get in early on Uber’s eventual market listing as the investment bank privately raised money for the ride-hailing platform. Morgan Stanley pitched wealth management clients a chance to invest in Uber via a fund dubbed New Riders LP, according to offering documents seen by Bloomberg. Morgan Stanley employees also got a chance to invest under similar terms, the documents show.
Tags: Uber, Science, Morgan Stanley, Bloomberg Morgan Stanley, Morgan Stanley Got Rich Clients Into Uber


Goldman Lost the Uber IPO, It Has a 12,000% Consolation Prize Instead

The consolation: a potential $600 million windfall from a mere $5 million wager that Goldman’s bankers made using the firm’s own money back in 2011, only a year after Uber had started offering rides. How Goldman lost its edge with Uber, the signature startup of the decade, to Morgan Stanley is just the latest turn in a long-running rivalry. The situation leaves Goldman’s chastened bankers in the unusual position of rooting for their traditional nemesis.
Tags: Uber, Science, Morgan Stanley, Goldman, Goldman Lost


Slack Gives Morgan Stanley Market Maker Adviser Role

Morgan Stanley is also one of the three general advisers -- not underwriters -- listed in the workplace-messaging company’s filing Friday for a direct listing of its shares rather than an initial public offering. The other two advisers are Goldman Sachs Group Inc. and Allen & Co.
Tags: Science, Morgan Stanley, Goldman Sachs Group Inc, Morgan Stanley Market Maker Adviser Role


Texas Instruments Rebounds as Execution, Candor Impress Analysts

Analysts said that while the cautious commentary will probably disappoint investors who were hoping for a second-half recovery, Texas Instruments is still executing well despite tough market conditions. Several banks raised their price targets on the stock and Morgan Stanley said the company’s candor with investors bolstered its credibility. Shares of Texas Instruments rose 0.5 percent at 9:44 a.m. in New York, erasing an earlier decline of as much as 1.3 percent.
Tags: New York, Science, Morgan Stanley, Texas Instruments, Shares of Texas Instruments, Texas Instruments Rebounds


Netflix Bulls on Wall Street Shrug Off Weak Subscriber View

Strong first-quarter results, pricing power and improving margins were the focus of analyst reports in the wake of Netflix’s first-quarter earnings. Netflix’s results showed “pricing power on display” with record global paid net adds of 9.6 million in the first quarter, “well ahead of our expectations and guidance.” The forecast for second-quarter U.S. net additions was “modestly below” Morgan Stanley’s estimate.
Tags: Science, Netflix, Morgan Stanley, Netflix Bulls


Netflix Analysts Shrug Off Weak Forecast as Shares Erase Decline

Strong first-quarter results, pricing power and improving margins were the focus of analyst reports in the wake of Netflix’s first-quarter earnings. Netflix’s results showed “pricing power on display” with record global paid net adds of 9.6 million in the first quarter, “well ahead of our expectations and guidance.” The forecast for second-quarter U.S. net additions was “modestly below” Morgan Stanley’s estimate.
Tags: Science, Netflix, Morgan Stanley


TikTok Owner Gets a $1.3 Billion Loan From Wall Street

Morgan Stanley and Goldman Sachs Group Inc. led the deal alongside Bank of China Ltd. and CMB Wing Lung Bank Ltd., said the people who are not authorized to speak publicly and asked not to be identified. Bytedance, which operates the hugely popular apps TikTok and its Chinese counterpart Douyin, declined to comment on the loan. The deal marks Bytedance’s debut in the syndicated loan market and underscores its growing clout in attracting some of the biggest international lenders.
Tags: Science, Morgan Stanley, Goldman Sachs Group Inc, Bank of China Ltd, Bytedance, Douyin, CMB Wing Lung Bank Ltd


The Only Thing Going Right for Tech Companies Is the Stock Market

Mike Wilson, the chief U.S. equity strategist at Morgan Stanley, says groupthink is taking over, a force that while capable of provoking powerful rallies, usually precedes a cycle’s peak. “I can’t remember a time in my career when institutional investors have been so preoccupied with what everyone else is doing,” said Wilson, who advised investors to avoid tech stocks. All this as software and electronics makers prepare to report an 8.7 percent drop in first-quarter profit, analyst estimates c...
Tags: Science, Bloomberg, Morgan Stanley, Wilson, Mike Wilson


Qualcomm Falls, Apple Rises After Latest Fight Ends in a Draw

Qualcomm was down as much as 2.9 percent in New York trading, the day after shares rose on a preliminary victory in one of two cases at the U.S. International Trade Commission in Washington. Apple was up more than 1 percent after it escaped an import ban on the second of those cases. The mixed rulings “mean that the path to ultimate resolution between Qualcomm and Apple is probably not getting any smoother,” James Faucette, an analyst with Morgan Stanley, said in a note to clients.
Tags: Apple, New York, Science, Morgan Stanley, Qualcomm, U S International Trade Commission, James Faucette, Qualcomm Falls Apple, Washington Apple


Micron Analysts Praise Good Execution in Tough Environment

Analysts were largely positive on the plan, calling it necessary in a difficult environment, and saying it could set the stage for a rebound in the second half of 2019. While a few firms remained cautious about Micron’s prospects -- with Citi downgrading the stock and Morgan Stanley saying it was “cynical” about the prospect of a rebound -- several firms raised their price targets. Raises price target to $64 from $55 and affirms overweight rating.
Tags: Science, Morgan Stanley, Micron, Citi


Uber Adds Several Banks to Lineup of IPO Underwriters

The ride-hailing company, which could be valued at as much as $120 billion in an IPO, is working with Bank of America Corp., Barclays Plc, Citigroup Inc. and Allen & Co. on preparations for the public listing, said the people, who asked not to be identified as the details aren’t public. The banks join Morgan Stanley, which will lead the IPO for Uber, as well as Goldman Sachs Group Inc., the people said.
Tags: Science, Ipo, Morgan Stanley, Goldman Sachs Group Inc, Allen Co, Bank of America Corp Barclays Plc Citigroup Inc


Robots Conquered Stock Markets. Now They’re Coming for Bonds and Currencies

As head of electronic trading in the bank’s global markets division, Krishnan is among a group of Wall Street equities veterans -- including Phil Allison at Morgan Stanley and Mark Goodman at UBS Group AG -- promoted in recent years to take on a delicate assignment: Build machines to handle trading in other markets such as bonds and currencies.
Tags: Science, Morgan Stanley, UBS Group AG, Mark Goodman, Krishnan, Phil Allison


Tesla's China Profit Potential Doubted by Morgan Stanley

Jonas cited Chinese authorities’ decision to suspend customs clearance for Model 3 sedans, an issue that’s been the subject of ongoing local media reports this week. Flawed labels have held up the cars at ports and highlighted “the risks inherent in U.S. auto/tech firms conducting business in the PRC,” Jonas wrote, noting the sensitivity of data privacy, cybersecurity, robotics and artificial intelligence. A total of 4,678 Model 3s that have arrived at Chinese ports may have issues, including ...
Tags: Science, China, Tesla, Morgan Stanley, Jonas, PRC, China Central Television


Global Switch Picks Banks for Over $1 Billion IPO

The London-based company picked CLSA Ltd., Goldman Sachs Group Inc. and JPMorgan Chase & Co. to lead the deal, according to the people, who asked not to be identified because the details are private. Morgan Stanley is also among banks that were chosen to work on the share sale, which could take place as soon as this year, the people said.
Tags: Science, London, Morgan Stanley, JPMorgan Chase Co, CLSA Ltd Goldman Sachs Group Inc


Marina Titova: How to encourage more women in blockchain

Marina Titova, head of advisory at the NKB Group blockchain investment bank, says she was taking a break from her previous role in traditional investment banking when she began exploring blockchain, as some of her former colleagues from Morgan Stanley were “doing something exciting in blockchain out of Los Angeles.” “At that time, my impression about the blockchain was mostly around the Silk Road dark net prosecution case that I read about in the FT,” she tells me. “As I started to dig more into...
Tags: Silk Road, Science, Los Angeles, Morgan Stanley, Marina Titova, NKB Group


Elon Musk Turns to Morgan Stanley for Five Monster Mortgages

The Morgan Stanley loans, signed in the final days of 2018, represent about $50 million in new borrowing. Musk, with a $23.4 billion fortune, according to the Bloomberg Billionaires Index, is among ultra-wealthy property owners including Mark Zuckerberg, Ken Griffin, and Beyonce and Jay-Z who have taken out monster mortgages. Sue Siering, a spokeswoman at Morgan Stanley, declined to comment.
Tags: Science, Beyonce, Jay Z, Morgan Stanley, Bloomberg Billionaires Index, Elon Musk Turns to Morgan Stanley, Mark Zuckerberg Ken Griffin


Apple, Amazon Lost Some Institutional Holders in Late 2018 Rout

According to Morgan Stanley, ownership for the group fell in the December quarter to its lowest level since the second quarter of 2017, with institutions modestly lowering their exposure to Apple, Amazon.com and Facebook, along with Oracle and IBM. Facebook lost 20 percent in the final three months of 2018, its biggest quarterly percentage loss since 2012. Ownership of Apple fell 50 basis points on a quarter-over-quarter basis, dropping to 2.4 percent, “the lowest level of institutional owners...
Tags: Apple, Facebook, Science, Morgan Stanley, Oracle, Apple Amazon, Katy Huberty, IBM Facebook


XPO Logistics Pays Up to Borrow $1 Billion for Stock Buyback

The trucking company and warehouse operator will use the bonds to repay borrowings under its existing credit agreement, among other general corporate purposes like repurchasing shares, according to a statement Tuesday. Equity analysts also have concerns -- once Morgan Stanley’s top pick for 2019, analyst Ravi Shanker downgraded the stock as the company’s change in guidance “has raised questions on forward visibility,” according to a report Tuesday.
Tags: Science, Morgan Stanley, Ravi Shanker


Seattle rideshare space company wins a shout-out for disrupting launch industry

Seattle-based Spaceflight Industries has taken the spotlight in a research note from Morgan Stanley for disrupting the process of putting satellites in space — in a good way. The note, sent to the investment firm’s clients last Friday by analyst Adam Jonas and his colleagues, pays tribute to Spaceflight Industries’ two business lines. One subsidiary, Spaceflight, arranges for payloads to share rides on other people’s rockets. The other subsidiary, BlackSky, offers satellite imagery from a range...
Tags: Science, Seattle, Morgan Stanley, Adam Jonas, Spaceflight Industries


Palantir Slashes Its Own Stock Price in a Bid to Boost Morale

The response comes after years of private stock transactions with diminishing returns, shareholders writing down their holdings and a drumbeat of political controversies tied to Thiel. For Morgan Stanley, the bank that hopes to win the IPO business, it’s as much as $41 billion. For mutual funds, which are obligated to report an objective market value of their holdings to the public, it’s anywhere from $4.4 billion to $14 billion.
Tags: Science, Ipo, Morgan Stanley


Apple Shares Climb as Company Outlines Life Beyond the iPhone

The company’s Wearables business, which includes the Apple Watch and AirPods, surged 50 percent. Market sentiment in the past few weeks had “become overly negative, ignoring the strength of Apple’s platform,” said Katy Huberty, an analyst at Morgan Stanley, especially non-iPhone revenue growth. Without getting into detail, Cook suggested Apple will get further into the original video content business.
Tags: Apple, Science, Cook, Morgan Stanley, Katy Huberty, Apple Shares Climb as Company


Saudis to Davos: move on from Khashoggi, let's do business

If you somehow missed the news about the killing of journalist Jamal Khashoggi by Saudi agents and the global outcry that ensued, you might think Saudi Arabia is the darling of the World Economic Forum in Davos. It has even managed to secure top Western businessmen for a panel debate on 'Next Steps for Saudi Arabia', where French oil major Total’s chief executive Patrick Pouyanne and Morgan Stanley’s boss James Gorman will be sitting next to the Saudi finance and economy ministers. The Davos g...
Tags: Science, Saudi Arabia, Davos, Morgan Stanley, Istanbul, World Economic Forum, Swiss Alps, James Gorman, Mohammed bin Salman, Patrick Pouyanne, Khashoggi, Jamal Khashoggi



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