Exceptionally strong refinery margins and a soft maintenance schedule may skew the normal seasonality of refinery runs and push more (price) weakness into early summer.

Morgan Stanley

Categorized in : Energy

Given the narrow path ahead, our view is that a high degree of policy continuity is a must in order to maintain macro stability.

The company showed a degree of confidence in a return to service before year-end and getting up to 57 per month on 737 production in about 12 months, which investors were increasingly skeptical of.

Apple reported a clean March quarter and bullish June quarter outlook which against a backdrop of negative investor sentiment sets up for shares to move higher.

2018 was a great year that finished on a disappointing note, we do not believe the fourth quarter is the new normal.

Balancing the market would require OPEC discipline to continue we... by Morgan Stanley

Balancing the market would require OPEC discipline to continue well into 2020.

Broadly, we've seen a weakness in flows this past quarter driven by investor de-risking and less investor risk appetite in the marketplace.

Morgan Stanley has strengthened and will continue to improve its controls against fraudulent conduct to ensure the safety of our clients' assets.

Our view for this year has been that asset markets would likely underperform the real economy as peaking growth momentum, tighter financial conditions, higher inflation and more volatility would act as a drag on valuations even as EPS trends remain solid.

A rising oil price brings upside price risk to all commodities. by Morgan Stanley

A rising oil price brings upside price risk to all commodities.

Finally, transport costs (5-20 percent of cash costs) will also rise in response, with the heaviest impact on bulk commodity producers.

While we've seen companies put matters of outstanding, transactions, litigation or investigation off-limits for Q&A, we've never seen a company cut off any Q&A on any topic from analysts or investors.

Whatever slate wins at the AGM, a settlement between the two groups would be the most desirable outcome, agreeing on the key levers to create value for shareholders with a stable board of directors supportive of (CEO Amos) Genish.

Genish staying is key to providing stability and execution of the business plan, particularly given the replacement of three top executives in the last three years.

The Importance of 'Boring' Questions, while they may be 'dry' in nature, we argue such questions are extremely important for a highly-levered and cash-hungry company.

We have been wrong about Snap's ability to innovate and improve its ad product this year and user monetization as it works to move beyond' experimental' ad budgets into larger branded and direct response ad allocations.

We would introduce some wealth management knowledge and expertise from Morgan Stanley, because they have successfully expanded their wealth management business (in the United States), we have seconded many young recruits to Morgan Stanley to get some hints, to get some expertise from their wealth management business.

We expect global growth to move below consensus estimates. by Morgan Stanley

We expect global growth to move below consensus estimates.

The potential for larger-than-normal stock builds is growing, with the market increasingly trading on DOE (U.S. Department of Energy) stats, this could be a catalyst for additional downside.

The amount of debt that China has taken in the last 5-7 years is unprecedented, no developing country in history has taken on as much debt as China has taken on on a marginal basis.

The effective solution to prevent relapse into recession would be... by Morgan Stanley

The effective solution to prevent relapse into recession would be to reactivate policy stimulus.