Stocks Opened Slightly Higher, Morgan Stanley Beat Estimates
- Monday, July 20, 2015, 10:01
- Stock Market
- Add a comment
U.S. stocks opened slightly higher on Monday, supported by upbeat earnings reports, such as Morgan Stanley. The Dow Jones Industrial Average lately was up 0.13 points, to 18,086.58. The S&P 500 added 0.21 points, or 0.01%, to 2,126.85. The Nasdaq Composite gained 10.59 points, or 0.20%, to 5,220.73.
Morgan Stanley reported profit that beat analysts’ estimates as a jump in trading and brokerage fees led to the biggest revenue increase among the six largest U.S. banks. Second-quarter net income fell 4.8 percent to $1.81 billion, or 85 cents a share, from $1.9 billion, or 92 cents, a year earlier.
Lockheed Martin Corp., the world’s biggest defense contractor, is about to get even bigger after buying helicopter maker Sikorsky from United Technologies Corp. in a deal worth 7.1 billion after “taking into account tax benefits resulting from the transaction.”
SunEdison, a renewable energy company, said on Monday that it and its publicly traded power plant unit, TerraForm Power, would acquire Vivint Solar for about $2.2 billion in cash and securities.
Gold prices plunged as much as 4 percent to their lowest in more than five years on Monday. Spot gold fell $45.55 to its weakest since March 2010 at $1,088.05 an ounce.
About the Author
Write a Comment
Gravatars are small images that can show your personality. You can get your gravatar for free today!
You must be logged in to post a comment.