Morgan Stanley is anticipated to submit earnings within the fourth quarter – that is what the Avenue expects

James Gorman, Chairman and CEO of Morgan Stanley, will appear on CNBC’s Squawk Box on January 22, 2020 at the 2020 World Economic Forum in Davos, Switzerland.

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Morgan Stanley is expected to announce fourth quarter results before the opening bell on Wednesday.

Here’s what Wall Street expects:

Earnings: $ 1.27 per share, 2.4% less than a year earlier, according to Refinitiv.

Revenue: $ 11.5 billion, up 6.3% from a year earlier.

Asset Management: $ 5.2 billion, according to FactSet.

Trading: stocks $ 2.14 billion; fixed income $ 1.42 billion.

How did Morgan Stanley find itself in the markets late last year?

That is the question after trading results at rivals Goldman Sachs and JPMorgan Chase helped add blows while markets on Bank of America and Citigroup were under-challenged.

Morgan Stanley, led by CEO James Gorman, also has the largest wealth management business among the six largest US banks, which typically benefit from rising markets. That business is backed by the bank’s $ 13 billion acquisition of E-Trade, which was announced a year ago. The fourth quarter is the first period in which E-Trade will be integrated into the larger company.

Morgan Stanley is the last major US bank to post earnings in the fourth quarter. JPMorgan and Goldman Sachs exceeded analysts’ expectations for sales and earnings, aided by trading, while Citigroup, Wells Fargo and Bank of America were disappointed with sales as credit margins were squeezed.

The shares of New York-based Morgan Stanley rose 33% in 2020, outperforming the KBW Bank Index’s 4.3% decline.

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