Morgan Stanley (MS) reports third quarter earnings before the opening bell on Monday, October 19th. Analysts expect earnings per share of $0.63 on sales of $8.55 billion. ‘The big thing for Morgan Stanley is stable recurring revenue coming from its wealth management business,’ said Ken Leon, an equity analyst with S&P Capital IQ, who maintains a STRONG BUY rating. Revenue from this division stood at $3.9 billion during second quarter, compared to $3.7 billion during the same quarter in 2014. Leon is also watching for how the bank’s trading department performed, which was a bright spot during second quarter, bringing in $2.3 billion, a roughly 28 percent increase from last year. The stronger trading sales helped the New York-based bank beat the Street’s top and bottom line forecasts. Leon is bullish on this front for third quarter. TheStreet’s Scott Gamm reports from New York.
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