Bank of America and Morgan Stanley Earnings Boost Wall Street
Bank stocks, including Morgan Stanley (MS) and Bank of America (BAC), are at or near record highs after their earnings reports.
Morgan Stanley reported adjusted third-quarter earnings of $2.80 per share on $18.22 billion in revenue, exceeding estimates. The stock is 6% higher, trading at $164.92, and has reached a record high of $166.77, with a 32.2% increase in 2025.
Bank of America is up 5.4% to trade at $52. Options traders are actively trading, with 52,000 calls changing hands, 12 times the average intraday amount, and more than triple the number of puts traded.
The largest beat in five years for Morgan Stanley's adjusted third-quarter earnings.
- Morgan Stanley (MS) is 6% higher, trading at $164.92.
- Bank of America (BAC) is up 5.4% to trade at $52.
- 52,000 calls have changed hands, with most attention at the October 175 call.
Author's summary: Bank stocks lead Wall Street with strong earnings reports.