Morgan Stanley FICC Trading Revenue Misses Estimates

The transcript discusses Morgan Stanley's financial performance, focusing on equities trading, return on equity, and the impact of recent acquisitions. Morgan Stanley outperformed expectations in equities trading but fell short in fixed income. The return on equity surpassed analyst predictions but was compared to Goldman Sachs' higher figure. The integration of acquisitions like E*TRADE and Eaton Vance is crucial for Morgan Stanley's market position, as it competes closely with Goldman Sachs in various financial markets.

What challenges does Morgan Stanley face in maintaining focus on its investment bank during integration?

How has Morgan Stanley's market cap changed in relation to Goldman Sachs?