Apr 18 - Morgan Stanley reported a first-quarter profit of $958 million driven by strong growth in its institutional securities business.
Here's your morning call for Thursday the last of the big banks reporting just minutes ago. Morgan Stanley reported a first quarter profit of 958. Million dollars compared to a year earlier loss and revenues were higher than expected as well. Morgan Stanley stock trading accounts for about 28% of revenue that's part of its business they have flourished with the stock market rallying in the first quarter. Shares of Morgan Stanley up 20% from last year also trading up slightly in the premarket. Tech investors will be busy after the bell today as both Microsoft and Google post earnings Google learning over the search engine world and reigned supreme when it comes to mobile. Nearly three quarters of the world's Smartphones use its android operating system but it has yet to establish himself as a leader in hardware. Investors wanna know sales of Motorola phones and nexus tablets are catching up with competitors apple and Samsung. Another area of interest may be Google's inroads into wearable tactical about the watch these days or collapses in Google's case. Google shares trading near all time high at 782. Dollars. From silicon valley's new king to what's all in one Microsoft. Today's results may reflect the failure of its key product windows eight. The software which was supposed to resurrect PC sales to quite the opposite PC shipments fell 14% last quarter the steepest in twenty years. Shares of Microsoft up 4% this year. We have a slew of other companies posting results today could IBM Advanced Micro Devices and Verizon. You're looking now what -- earnings Smart estimate which is the number that the most accurate analysts polled by storm mine came up with. Expect ADM to me is the average earnings per share estimate by nearly 11%. And not to markets let's begin with the price tag for gold it's trading up around thirteen 95 trying to make it -- at 14100 dollar mark. US gold coins have been flying off the shelves this week with retail investors snapping up the -- at bargain prices. Yes stock futures putting -- and slightly higher open. A little later today we'll get data on unemployment claims the number may have ticked up to 350000. Last week. Now let's take a look at some stocks to watch starting with one that's hard to look away from apple of course. -- the 400 dollar level to touch 398 to share one point Wednesday but finishing at just under 403 dollars. That comes out to a 24% drop so far this year. Shares in the premarket are up slightly this morning. BMO cutting its price target by over 100 bucks to -- sixty from 580 after the sell off. Piper Jaffray analyst told CNBC this morning that he still -- products in the pipeline that could help the company shares in the future. But what surprised by the sharp fall in price and have to adjust his forecast. Disappointing revenue forecast from suppliers Cirrus Logic having ripple effect for other apple suppliers in Asian trade today. Okay never some bright news for -- investors the social web -- introducing new mobile apps that we'll start serving -- -- display and the apps news stream as part of a small test for user engagement and in the news Reuters exclusively reporting -- Guggenheim partners will advise on the sale of the video streaming service. Guggenheim itself considering making -- ended. That's different Thursday morning call remembered follow us on Twitter at Reuters Insider and get more great videos at Reuters dot com slash legacy. I'm Lisa Bernhard.