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摩根士丹利業(yè)績低迷,計劃年前裁員千人

摩根士丹利業(yè)績低迷,計劃年前裁員千人

Stephen Gandel 2012-07-23
盡管這家投資銀行今年二季度曾擔(dān)任Facebook首次公開募股的主承銷商,但其盈利卻下滑了90%以上。公司掌門人稱,年底前將進一步裁員多達1000人,同時降低在職人員工資,壓縮開支。

????摩根士丹利(Morgan Stanley)現(xiàn)在又多了個理由,惟愿第二季度從來沒有發(fā)生過。它是唯一一家報告盈利低于分析師預(yù)期的大型銀行。

????摩根士丹利周四早上發(fā)布的財報顯示,2012財年公司第二季度凈利潤為5.36億美元,合每股0.28美元。該公司剔除經(jīng)債務(wù)估值調(diào)整后所獲得的會計利得(accounting gains)之后,每股收益為0.16美元。分析師此前預(yù)計該公司每股收益將達到0.40美元。經(jīng)債務(wù)估值調(diào)整所對應(yīng)的會計利得調(diào)整之后,其銷售收入也低于預(yù)期,為66億美元,比分析師的預(yù)期低了10億美元左右。

????一年前,這家公司在2011財年第二季度虧損5.3億美元。但那個季度的業(yè)績結(jié)果中包括了一項一次性虧損17億美元的費用,這項費用與日本三菱日聯(lián)金融集團(Mitsubishi UFJ Financial Group)在該銀行的一筆投資有關(guān)。

????周四美國股市開盤后不久,摩根士丹利股價便下挫了4.5%,跌至13.40美元。

????這家公司稱,眼下華爾街經(jīng)營環(huán)境疲軟不振,它計劃進一步裁員。自今年年初以來,摩根士丹利已裁員3,272人。該公司首席執(zhí)行官詹姆斯?戈爾曼上周四告訴分析師說,他預(yù)計到今年年底,公司將進一步裁員1,000人。公司同時表示,薪酬開支相比一年前已縮減了10億美元。戈爾曼說:“我們正在做其他所有公司都在做的事情——裁減人員、縮減開支。我們正在非常嚴密地控制所花費的各項支出?!?/p>

????該公司投資銀行部門的銷售收入相比第一季度及去年同期均下滑了50%左右。而盈利更是下滑了90%以上。盡管摩根士丹利是Facebook在第二季度進行可謂是今年最熱門首次公開募股(IPO)的主承銷商,但仍然在該季度出現(xiàn)盈利下滑的情況。

????這個糟糕的盈利結(jié)果為摩根士丹利被認為堪稱自金融危機以來最糟糕的一個季度劃上了難堪的句號。2008年金融危機期間,許多人一度認為這家公司可能會破產(chǎn)。人們普遍認為,是它搞砸了Facebook的IPO。Facebook上市的第一天,它的股票在開始交易前所延遲的時間超過了人們的預(yù)期。股票最終開始交易后,這家社交網(wǎng)絡(luò)公司的股票幾乎立即開始下跌。Facebook的股價最近為29美元,仍然遠低于其38美元的IPO發(fā)行價。摩根士丹利的高管曾將Facebook IPO表現(xiàn)糟糕的部分問題歸咎于納斯達克股票交易市場。盡管如此,該銀行似乎仍然在此項IPO承銷交易中輕易賺取了豐厚的交易利潤,即便這對它的聲譽造成了損害。很難立刻弄清楚,F(xiàn)acebook的IPO對摩根士丹利到底有何影響。

????此外,在今年第二季度,摩根士丹利和其他銀行一起,遭到穆迪(Moody's)評級下調(diào)的打擊。摩根士丹利表示,由于其評級遭到下調(diào),它不得不在第二季度宣布增加29億美元的交易資金。

????一些觀察人士認為,CEO戈爾曼扭轉(zhuǎn)該公司的時間所剩無幾了。戈爾曼力促該公司收購花旗美邦(Citigroup's Smith Barney)的大部分股份,從而形成了華爾街上規(guī)模最大的經(jīng)紀(jì)公司。但這場合并到目前為止尚未獲得回報。摩根士丹利的利潤回升一直落后于其競爭對手,而該公司的股票價格在過去一年里也已下跌了30%。

????譯者:iDo98

????Morgan Stanley has another reason to wish the second quarter never happened. It's the only major bank to report earnings that were below analysts' expectations.

????Morgan Stanley (MS) reported net income Thursday morning of $536 million, or $0.28 a share, in the latest quarter. Excluding accounting gains the firm made on an adjustment for its debt, earnings per share were $0.16. Analysts had been predicting the company would earn $0.40 a share. Sales, adjusting for the debt gains, were also lower than expected, at $6.6 billion, or about $1 billion less than analysts were expecting.

????A year ago, the company lost $530 million. But that quarter included a one-time loss of $1.7 billion related to an investment in the firm from Mitsubishi UFJ Financial Group.

????Morgan Stanley's shares were down 4.5% shortly after the market opened to $13.40.

????The firm said it plans to continue to cut staff amid the weak environment on Wall Street. Morgan Stanley has already reduced its headcount by 3,272 employees since the beginning of the year. CEO James Gorman on Thursday told analysts he expect his firm to eliminate another 1,000 positions by the end of the year. The firm said compensation expenses had fallen $1 billion from a year ago. "We are doing what everyone else is doing," says Gorman. "We are controlling what we spend very closely."

????Sales in the firm's investment banking division fell by about 50% from the first quarter and a year ago. Earnings were down by more than 90%. The drops came despite the fact that Morgan was the lead underwriter of Facebook's IPO, which happened in the quarter and was this year's most sought after deal.

????The poor earnings caps off what has to be considered one of Morgan Stanley's worst three month periods since the financial crisis, when many thought the firm might fail. It is widely believed that the firm botched the Facebook IPO. On the day of the IPO, the stock took much longer than expected to begin trading. When it did, shares of the social networking company almost immediately began to fall. At a recent $29, Facebook's stock is still trading well below its $38 offering price. Morgan Stanley officials have blamed some of the problems of the IPO on the Nasdaq stock exchange. Nonetheless, the bank appeared to rake in big trading profits on the deal, even as it hurt its reputation. It wasn't immediately clear how Facebook's offering impacted Morgan's earnings.

????Also in the quarter, Morgan Stanley, along with other banks, was hit by a ratings downgrade by Moody's. Because of the downgrade, Morgan Stanley said it had to post additional trading capital of $2.9 billion in the quarter.

????Some observers believe CEO Gorman may be running out of time to turn around the firm. Gorman pushed the firm to purchase a majority stake in Citigroup's Smith Barney, creating the largest brokerage house on Wall Street. But the merger has yet to pay off. Morgan Stanley's profit rebound has lagged rivals, and the company's shares have fallen 30% in the past year.

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