Bank of America and Morgan Stanley Earnings
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 reached a record high of $166.77 and is now 32.2% higher in 2025.
Bank of America Corp is up 5.4% to trade at $52. Options traders are actively buying calls, with 52,000 calls changing hands, 12 times the average intraday amount.
The earnings reports are propping up Wall Street, with a slew of upbeat post-earnings reactions setting the tone for the week.
- Morgan Stanley (MS) is 6% higher, trading at $164.92.
- Bank of America Corp (BAC) is up 5.4%, trading at $52.
Author's summary: Bank stocks drive Wall Street gains.