Snap Inc. has been slapped again — this time by the big Wall Street bank that underwrote its public stock debut. Shares of Snapchat’s parent company fell to fresh all-time lows on Tuesday after Morgan Stanley — which led the Snapchat parent’s IPO in March — cut its rating on the stock to equal weight...
NYS Entity Status
NYS Filing Date
AUGUST 20, 2014
NYS DOS ID#
NYS Entity Type
FOREIGN BUSINESS CORPORATION
2014 - MORGAN STANLEY FIXED INCOME GP INC.
AROUND THE WEB
- Snap shares fall below IPO price as Morgan Stanley cuts rating
By Post Staff Report - Tuesday Jul 11, 2017
- Morgan Stanley embarrasses Goldman Sachs
By Reuters - Wednesday Jul 19, 2017
Morgan Stanley beat Wall Street’s profit expectations on Wednesday, reporting gains across most of its businesses and producing more trading revenue than rival Goldman Sachs, a rare feat. The sixth-largest U.S. bank by assets reported an 11 percent rise in second-quarter profit, with higher revenue from giving corporations advice, underwriting securities, trading equities and managing...
- A New Risk for Goldman, Morgan Stanley in Stress Tests
Thursday Jun 22, 2017
This year’s bank stress tests turned up an unpleasant surprise for Goldman Sachs and Morgan Stanley. The banks scored low on a metric introduced for the first time this year, the supplementary leverage ratio, meant to measure banks’ total leverage.
- Goldman Sachs’ bond-trading revenue plunges 40 percent
By Reuters - Tuesday Jul 18, 2017
Goldman Sachs reported a 40 percent slump in bond trading revenue, mirroring a broader weakness in trading activity that has plagued big U.S. banks in the latest quarter. The slump was far worse than JPMorgan Chase & Co’s 19 percent fall and Citigroup Inc’s 6 percent drop, leading to Goldman’s worst fixed-income results since the...
- Goldman Sachs moves from Wall Street into Main Street
By Ken Sweet - Friday Jul 21, 2017
Goldman Sachs, long known for its super-rich clients and well-connected executives, is starting to act a lot more like a neighborhood bank.The most Wall Street of Wall Street firms really wants people to start thinking about it the next time they need to open a bank account or borrow money.“We want to grow a robust consumer banking business,” said Stephen Scherr, Goldman’s chief strategy officer and CEO of GS Bank.Goldman’s retail banking business is less than 2 years old and tiny compared with the overall size of the firm.Trading is inherently a volatile business, and a quiet market weighed on Goldman’s second-quarter results posted last week.Fixed income, currency and commodity trading revenue fell 40 percent, and Chief Financial Officer Martin Chavez said its commodities division had its worst quarter since the firm went public in 1999.Goldman executives see the new consumer banking division as a way for the firm to expand into businesses it traditionally wasn’t involved in.An online savings account with its GS Bank requires no minimum opening deposit and pays an interest rate of 1.20 percent.Analysts say it’s not unreasonable to think that Goldman may consider checking accounts and student loans.At the height of the crisis, Goldman and its rival Morgan Stanley — both trying to avoid the bankruptcy fate of Lehman Brothers — converted from investment banks to commercial banks.Online lending has exploded in the last few years — which has raised concerns about the industry getting too big too quickly.
- Chinese firm sued for allegedly inflating profits ahead of IPO
By Reuters - Friday Jul 21, 2017
Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a state pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering. Morgan Stanley and Goldman Sachs, which spearheaded ZTO’s IPO, are named in the class-action suit...