On Tuesday, Shares of Morgan Stanley (NYSE:MS), gained 2.83% to $35.27, on news that the bank is considering cutting as much as a quarter of its fixed-income trading staff.
Bloomberg stated Monday that Morgan Stanley, which posted a 42 percent drop in fixed-income trading revenue last quarter, is planning to cut jobs worldwide over the next two weeks. CLSA Ltd. analyst Mike Mayo said the move may assist resolve investor concerns that the business isn’t profitable enough amid an industrywide trading slump.
“It would show that administration is not asleep at the switch and willing to make noteworthy moves to improve overall firm performance,” Mayo wrote in a note to investors Monday. “Second, it would seem to show a belief that trading could remain subdued for the foreseeable future.”
Morgan Stanley generated $3.75 billion in fixed-income revenue in the first nine months of this year, seventh among major global investment banks, according to data from Bloomberg Intelligence. The job cuts could affect between 1,500 and 2,500 workers and offer future savings of about $500 million, wrote Mayo, who has a buy rating on the stock.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company’s Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
Shares of Duke Energy Corporation (NYSE:DUK), inclined 0.44% to $68.06, during its last trading session.
Duke Energy Corporation The Federal Energy Regulatory Commission (FERC) recently issued a new 40-year operating license to Duke Energy for the Catawba-Wateree Hydroelectric Project. It became effective Nov. 1, 2015.
The new license allows the company to continue operating its 13 hydroelectric stations and 11 associated reservoirs located along the Catawba-Wateree River in North Carolina and South Carolina.
The significance of the new license cannot be overstated, said Steve Jester, vice president of water strategy, hydro licensing and lake services for Duke Energy. Receiving the new license ensures the Catawba-Wateree River will continue to support and sustain communities across the Carolinas for at least the next 40 years.
In addition, Duke Energy can now take action on the many benefits which will enhance the region and environment for generations to come, he said.
Receiving the license is the result of an extensive three-year collaborative process with community stakeholders representing 85 organizations, counting state and federal resource agencies, local governments, a Native American tribe, community organizations and private citizens.
Duke Energy Corporation, together with its auxiliaries, operates as an energy company in the United States and Latin America. It operates through three segments: Regulated Utilities, International Energy, and Commercial Power. The Regulated Utilities segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, Ohio, Kentucky, and Indiana; and transports and sells natural gas in southwestern Ohio and northern Kentucky.
Finally, Shares of Endo International plc (NASDAQ:ENDP), ended its last trade with 0.76% gain, and closed at $61.95. It has a 52 week low of 32.77%, a 52 week high of -35.86%, and a simple moving average of -0.49% over the last 50 days. Its volume is 4258794 with an average volume of 4548.69.
In its most recent quarter Endo International Plc Ord had actual sales of $ 745.727M. Among the 5 analysts who were surveyed, the consensus expectation for quarterly sales had been 737.546M. This represents a 1.109% difference between analyst expectations and the Endo International Plc Ord achieved in its quarterly earnings.
Shares of Endo International plc rose by 3.55% in the last five trading days and 1.82% for the last 4 weeks.Endo International plc has dropped 20.16% during the last 3-month period . Year-to-Date the stock performance stands at -14.75%.
Endo International plc, a specialty healthcare company, focuses on branded and generic pharmaceuticals and devices worldwide. It operates through four segments: U.S. Branded Pharmaceuticals, U.S. Generic Pharmaceuticals, Devices, and International Pharmaceuticals. The U.S. Branded Pharmaceuticals segment provides various branded prescription products, counting Lidoderm, Opana ER, Voltaren Gel, Percocet, Frova, Fortesta Gel, Supprelin LA, Valstar, Vantas, Sumavel DosePro, Aveed, and Natesto to treat and manage pain and conditions in urology, endocrinology, and oncology.