Why Goldman Sachs And Morgan Stanley Shares Are Moving In Different Directions Tuesday

Goldman Sachs Group Inc GS and Morgan Stanley MS shares are moving in different directions Tuesday morning after the banks reported fourth-quarter financial results.

What Happened: Goldman Sachs reported fourth-quarter revenue of $10.59 billion, which missed average analyst estimates of $10.83 billion, according to Benzinga Pro. The company's top-line results were down 16% on a year-over-year basis, which primarily reflects significantly lower revenues in Asset & Wealth Management and lower revenues in Global Banking & Markets.

Goldman reported quarterly earnings of $3.32 per share, which missed average estimates of $5.48 per share.

On the other hand, Morgan Stanley turned in fourth-quarter results that topped average analyst estimates.

Morgan Stanley reported fourth-quarter revenue of $12.75 billion, which beat estimates of $12.64 billion. The company reported quarterly earnings of $1.31 per share, which beat estimates of $1.19 per share. 

"Wealth Management provided stability with record revenues and over $310 billion in net new assets, Investment Management benefited from diversification, and within Institutional Securities our Equity and Fixed Income revenues were strong, offset by Investment Banking," said James Gorman, chairman and CEO of Morgan Stanley.

See Also: Goldman Sachs, Morgan Stanley And 3 Stocks To Watch Heading Into Tuesday

GS, MS Price Action: At publication time, Goldman Sachs was down 2.99% at $362.80 while Morgan Stanley was up 3.96% at $95.29, according to Benzinga Pro.

Photo: Nesster from Flickr.