Earnings Season Update: Goldman Sachs, Morgan Stanley, and PNC Results

📉Goldman Sachs performed better than Morgan Stanley, with a solid quarter and a focus on reducing risky assets.

📊Morgan Stanley reported better-than-expected results but pulled back on near-term guidance, causing a negative market reaction.

💼Asset management is becoming a bigger part of both banks' businesses and seeing positive momentum.

💰PNC had a solid quarter and is focusing on cost-cutting measures.

📈The overall earnings season for banks has been mixed, with some positive momentum expected in the future.

Which bank performed better: Goldman Sachs or Morgan Stanley?

—Goldman Sachs performed better than Morgan Stanley, with a solid quarter and a focus on reducing risky assets.

What was the market reaction to Morgan Stanley's earnings?

—The market reacted negatively to Morgan Stanley's earnings due to the company pulling back on near-term guidance.

What is the focus of both banks in their business strategies?

—Both banks are focusing on asset management and reducing risky assets on their balance sheets.

How did PNC perform in its earnings report?

—PNC had better-than-expected results and is focusing on cost-cutting measures.

How would you describe the overall earnings season for banks?

—The overall earnings season for banks has been mixed, with some positive momentum expected in the future.

12:24Goldman Sachs and Morgan Stanley reported mixed earnings results, with Goldman Sachs performing better and Morgan Stanley pulling back on near-term guidance.

14:58Shares of Morgan Stanley are down 5.3% due to the company's pulling back on near-term guidance.

15:35PNC had better-than-expected results and is focusing on cost-cutting measures.

16:17The overall earnings season for banks has been mixed, with some positive momentum expected in the future.