Proactive Investors - Run By Investors For Investors

Morgan Stanley expects to take a US$1.25bn fourth quarter hit from the US tax reform bill

The Wall Street bank said in a regulatory filing that its net income for the quarter will include a tax provision of that amount, primarily stemming from the re-evaluation of certain net deferred tax assets using the lower tax rate
Morgan Stanley
Rival Goldman Sachs announced in late December that it estimates the new tax legislation could reduce its fourth quarter earnings by about US$5bn

Morgan Stanley (NYSE:MS) said it expects to take a US$1.25bn fourth quarter hit from the US tax reform bill that was signed into law in December.

The Wall Street bank said in a regulatory filing that its net income for the quarter will include a tax provision of that amount, primarily stemming from the re-evaluation of certain net deferred tax assets using the lower tax rate.

Rival Goldman Sachs Group Inc.(NYSE:GS) announced in late December that it estimates the new tax legislation could reduce its fourth quarter earnings by about US$5bn, mainly due to the newly enacted repatriation tax for cash and assets held overseas.

In pre-market New York trading, Morgan Stanley shares edged higher, up 0.1% at US$53.17. 

View full MS profile View Profile

Morgan Stanley Timeline

Related Articles

1549886982_asia.jpg
February 28 2019
Investment company Adamas, under Harmony Capital’s management, is focused on opportunities in the SME sector
Blockchain technology
March 22 2019
The firm’s services include the authoring of industry standard White Papers, technical aspects, design and implementation of market strategies and business appraisals
APQ
April 12 2019
On the back of last year’s sell-off, APQ sees good value in emerging markets, particularly in Turkey, Argentina and Brazil.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use