marrio31/iStock via Getty Images Background In early 2023, I recommended investors buy Noble Corporation plc ( NE ) on growing revenue and renewed profitability after a bankruptcy and several timely acquisitions. I have covered Noble Corporation plc and its offshore drilling peers several times with an emphasis on financial strength and careful attention to backlog, a closely watched indicator of future revenues. Market sentiment and energy sector volatility are difficult to predict, but offshore drilling revenues can often be reliably forecasted on backlog. Recent Performance & Momentum First, let's note Noble's recent 52Wk high of $42.21; also, let's not forget its 52Wk low of $17.40 in April of last year. Over the last six months, Noble Corporation plc has alternately lagged and outpaced the S&P 500. Most recently, it seems Noble has left gravity behind and rocketed ahead of the S&P 500. 6-Month Performance vs. S&P 500 and Oil Seeking Alpha Since early January, Noble has climbed about 40% while the S&P 500 has been essentially flat. At the same time, crude oil ( CL1:COM ) is slightly down over the last six months, and despite gaining about 10% YTD, oil remains near a 5YR low. Given low oil prices, oversupply concerns, and broader economic uncertainty, Noble's recent outperformance could prove difficult to sustain if sentiment shifts. Can Noble Continue to Outperform? Over the last five years, Noble's annual revenues have roughly tripled from less than $1B in 2020 to around $3B recently. Noble Revenue, Net Income, and Operating Cash Flow Seeking Alpha Over the same period, net income has recovered from 2020 losses to peak at nearly $500M in 2024 before retreating slightly over the last twelve months. Operating cash flows have outpaced net income and reached about $900M over the last twelve months. However, this superlative growth over several years does not guarantee future profitability. Where Is Noble Headed? As the SEC-mandated disclaimer goes, “ past performan...

Bitcoin ( BTC-USD ) and Ethereum ( ETH-USD ) investors could soon have access to significantly higher leverage in regulated exchange traded fund products, following a new filing from ProShares with the U.S. Securities and Exchange Commission. According to the filing, ProShares is seeking approval to launch two new leveraged ETFs: The QuadPro Bitcoin ETF and The QuadPro Ether ETF. If approved, the funds would aim to deliver four times the daily performance of their respective benchmark indices, marking a notable escalation in leverage within the crypto ETF space. The QuadPro Bitcoin ETF is designed to target daily returns equal to 4x the performance of the Bloomberg Bitcoin Index, while the QuadPro Ether ETF would seek 4x the daily movement of the Bloomberg Ethereum Index. Importantly, neither fund would hold bitcoin or ether directly. Instead, the products would rely on derivative-based strategies to achieve their amplified exposure. As with other leveraged ETFs, the stated objective applies only on a daily basis, meaning performance over longer periods may diverge significantly from the underlying asset due to compounding effects and volatility. The filing did not disclose proposed ticker symbols or expense ratios, leaving key details unanswered for now. Still, the move underscores growing demand for aggressive trading vehicles tied to digital assets, even as regulators continue to scrutinize leverage and risk in the crypto-linked ETF market. Bitcoin ETFs: ( IBIT ), ( ARKB ), ( GBTC ), ( BRRR ), ( BTCO ), ( HODL ), ( BTCW ), ( FBTC ), ( BITB ), and ( EZBC ). Ethereum ETFs: ( ETHA ), ( ETHE ), ( ETH ), ( FETH ), ( ETHU ), ( ETHW ), ( ETHV ), ( ETHD ), and ( QETH ). More on markets Recession odds fade according to prediction markets Cantor Fitzgerald sees bitcoin washout setting the stage for a stronger rebound China Treasury fears resurface, but the data shows its grip on U.S. debt Is fading Magnificent 7 in overdrive: ProShares seeks approval for new 3X leveraged E...

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee—big moves are happening on the US coasts. From luxury mansions in Miami to shifts in billionaire residency, wealth is on the move, amid new patterns in finance, real estate, and crypto. Crypto News of the Day: Florida Emerges as a Tax Haven for Tech and Crypto Wealth California’s tech and crypto elites are increasingly eyeing Florida as a tax-friendly alternative. Grant Cardone’s recent X (Twitter) post advertising a 10,000 sq. ft., 7-bedroom Miami mansion for 700 BTC highlights the growing intersection of Bitcoin wealth and high-end real estate. Sponsored Sponsored Looking for a Bitcoin OG who wants to move his bitcoin to live in Miami beach house – 700 BTC 10,000 sq feet, 7 BR, 6 car garage, private beach – approved for new home. pic.twitter.com/RlHiHpMo9r — Grant Cardone (@GrantCardone) February 9, 2026 The listing coincides with a surge in relocations by high-net-worth individuals from California. Meta CEO Mark Zuckerberg and his wife, Priscilla Chan, are the latest California billionaires moving to South Florida. Reportedly, they are purchasing a newly completed waterfront mansion in Miami’s Indian Creek neighborhood. Based on reports, the gated community is home to other high-profile figures, including Jeff Bezos, Tom Brady, and Jared Kushner/Ivanka Trump. Zuck will be buying a newly completed waterfront mansion in the elite Indian Creek neighborhood, which is home to other high-profile celebrities like Jeff Bezos, Tom Brady, Jared Kushner / Ivanka Trump. Local RE agents estimate the property is worth $150-200 million. pic.twitter.com/RMvzQrwTGU — Exec Sum (@exec_sum) February 9, 2026 The seller is reportedly a limited liability company tied to Jersey Mike’s Subs founder Peter Cancro. While the deal has not been publicly confirmed as closed, WSJ, citing neighbors, estimates that Zuckerberg plans to move in by April...

Retirees claiming Social Security could be impacted by this huge change. Social Security is one of the most popular retirement benefit programs in the United States, and many Americans are understandably wary of big changes to benefits. Big changes are coming, though. In fact, starting on March 7, 2026, how Social Security works will be different -- and the change isn't necessarily good for seniors. This Social Security change is happening on March 7 The big Social Security change that's coming on March 7 has to do with how workflow is managed and benefit claims are processed by the Social Security Administration. According to the Federal News Network, the changes were announced in December. They relate to the way that Social Security schedules initial claim appointments. Currently, local offices process claims made by residents in their area. However, beginning March 7, Social Security is introducing: A National Appointment Scheduling Calendar (NASC) National Workload Management (NWLM) These changes will apply to all digital services and to all processing centers. All field operations will also be impacted when the new system launches on March 7. Here's what the March 7 Social Security change will look like When the new system goes into effect: Social Security Administration employees will now schedule all initial claim appointments using the NASC. Members of the public will be allowed to schedule their own initial claim appointments using the NASC. Work will be distributed to employees across the country based on which workers are available and have the right knowledge and skills, with managers determining how work is assigned. Some reports indicate that this change is necessary because of staffing shortages. Around 7,000 employees left the Social Security Administration last year. There may not be enough local workers left to do all the necessary claims processing, so now someone who calls in with a question from one state may end up talking to a representative i...

Jim Cramer on Oracle (ORCL): “I don’t like what they’re doing to their balance sheet” MSN

Jim Cramer on Amazon.com (AMZN): "You need a certain level of faith if you're planning to own this one" MSN

格隆汇2月10日｜原油期货持稳，市场正等待美国和伊朗之间的新一轮谈判，而伊朗拒绝将其导弹计划纳入谈判，维持了风险溢价。对原油的利空因素是，随着美国天气转暖、冬季进入尾声，取暖油价格回落。Ritterbusch & Associates在一份报告中称：“近期柴油期货依然是疲软环节。“此外，该公司补充称：“近期俄罗斯炼油厂活动未受干扰，挤出了近期柴油期货的大量溢价，并波及美国柴油价格曲线。“西得州中质油上涨0.1%，至每桶64.39美元，布伦特原油上涨0.2%，至69.18美元。

格隆汇2月10日｜荷兰国际集团分析师在一份报告中称，在宽松财政政策叠加收紧货币政策的前景下，日元可能进一步回升。这些分析师表示，在日本首相高市早苗所在的自由民主党于周日的提前选举中获得多数席位后，她在实现经济增长和推行积极的外交政策方面获得了强有力的授权。这些分析师称，日本央行可能至少再加息一次，而美联储年内可能再降息两次，这可能推动美元兑日元汇率向150日元靠拢。这些分析师表示，美元兑日元汇率任何向158-160日元的上涨都可能吸引日元买家，因为日本当局随时准备在这些水平进行干预。伦敦证券交易所集团的数据显示，美元兑日元下跌1%，至11日低点154.19日元。

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摩根士丹利 警告称， 人工智能可能颠覆软件行业大部分业务 的担忧已开始蔓延至信贷市场。软件行业在 1.5 万亿美元美国贷款市场 中占比约 16%，规模达 2350 亿美元。 数月来，金融市场一直受投资者对 AI 交易热情的提振。但上周，由于市场担忧快速发展的 AI 工具可能颠覆行业，全球软件股大跌，市场受到冲击。 摩根士丹利在周一的报告中表示，软件行业的信贷敞口 多数评级较低 ： 50% 的贷款信用评级为 B- 及以下 ，通常意味着较高违约风险 20% 为 B 级 26% 为 CCC 级 仅 7% 为较高的 BB 级 与股市不同， 超过 80% 的软件行业贷款由私营企业发行 ，近 78% 有机构 sponsor 支持，这意味着可用于评估 AI 冲击风险的财务信息有限。 软件行业面临 更集中的到期压力 ：约 30% 的未偿还贷款将在 2028 年前到期，而整体市场为 22% 未来四年内到期的软件债务占比 46% ，而整体贷款市场不到 35% 若 AI 颠覆相关担忧快速兑现， 再融资风险将尤为突出 。 核心观点 不过该行认为， 短期内软件行业出现大规模系统性颠覆的风险有限 。 “我们预计贷款价格将继续波动，但短期内违约率大幅飙升的可能性不大。” 责任编辑：郭明煜

Erik Isakson The Netherlands-based Nebius ( NBIS ), which provides cloud-based computing power for artificial intelligence, announced today it has agreed to buy the startup Tavily, an agentic search provider. Adding Tavily's agentic search to its AI cloud platform allows Nebius to expand the integrated software stack needed to assemble and operate enterprise-grade agentic systems, the company said. While Token Factory , which Nebius released in November, provides the high-performance inference required for agents to reason, Tavily provides the real-time web access required for accuracy. "By combining high-performance inference with real-time grounding, Nebius provides the essential building blocks for the next generation of AI applications," Nebius said. As part of the deal, Tavily founder and CEO Rotem Weiss and his team of about 30 employees will join Nebius and continue to lead development of the Tavily product. Tavily, founded in 2024, has offices in Tel Aviv, New York City and Abu Dhabi. Although financial details of the deal were not provided, the Calcalist reported that Nebius will pay an initial $275M, which could increase to $400M if certain milestones are met. It is expected to close within the next few weeks. "This acquisition brings the search layer directly into our stack, so developers can focus on their applications instead of managing multiple vendors," said Nebius co-founder and Chief Business Officer Roman Chernin. "Our strategy is clear: provide an open platform that serves everyone from startups to the largest enterprises, giving them the tools to own their AI destiny." The agentic AI market is expected to grow from $7.5B in 2025 to nearly $200B by 2034, according to Precedence Research . More on Nebius Group Nebius: A Sober Look At Q4 Earnings Nebius: This Correction Looks Overdone Ahead Of Q4 (Earnings Preview) Nebius Earnings Preview: Growth Now, Rubin Expansion Ahead AI-related names mostly rise on Monday following Super Bowl's tech-heavy ads...

N Rotteveel/iStock Editorial via Getty Images The crypto world has been getting slammed since early in Q4 last year. Coinbase Global, Inc. ( COIN ) is no exception and has now dropped about 57% over four months. I had given the stock a buy rating in late October before their Q3 earnings. Even with a relatively strong report, the stock has tanked alongside the majority of all crypto investments. Seeking Alpha COIN is one of the leading cryptocurrency exchanges and digital asset platforms in the world, offering retail and institutional investors the ability to buy, sell, and custody a wide range of cryptocurrencies. Beyond trading, COIN is growing its platform, providing solutions for stablecoins, staking, and institutional-grade custody, positioning itself as a comprehensive hub in the rapidly evolving digital asset ecosystem. I think heavily weighing short-term trends in this space is not the greatest decision and I still believe the company and industry's long-haul growth prospects are still intact. Market fluctuations are inevitable in this field, and while it takes patience and a gut for the volatility, I still have COIN as a buy, as Q4 earnings are set to be released this week. The company has demonstrated consistent cash growth and maintains a strong balance sheet, which provides flexibility to capitalize on industry expansion, invest in new technologies, and tokenization in the constantly evolving crypto landscape. Transactionally, numbers are trudging along just fine, and amongst peers, COIN is in a good regulatory spot for global growth. Crypto Freefall The majority of crypto assets have been spiraling down for a few months. Rising crypto prices typically drive higher trading volumes, greater retail engagement, and increased institutional activity, all of which expand Coinbase’s transaction revenue and improve operating leverage. Of course, in times of depreciating crypto prices, the opposite occurs. However, COIN has done a nice job in recent times of diver...

Explore how differences in cost, yield, and sector focus set these two consumer ETFs apart for investors with distinct priorities. The State Street Consumer Staples Select Sector SPDR ETF (XLP 0.43%) and the Invesco Food & Beverage ETF (PBJ 0.65%) both target the U.S. consumer sector, but XLP offers broader staples exposure at a lower cost and higher yield, while PBJ focuses on food and beverage with a more diversified sector mix and higher trading friction. XLP and PBJ both give investors access to U.S. companies in food, beverage, and consumer defensive industries, but their approaches and underlying holdings differ. This comparison looks at cost, recent returns, risk, liquidity, and portfolio makeup to see which fund may better fit specific objectives. Snapshot (Cost & Size) Metric XLP PBJ Issuer SPDR Invesco Expense ratio 0.08% 0.61% 1-yr return (as of 2026-02-04) 10.6% 4.1% Dividend yield 2.4% 1.6% Beta 0.53 0.56 AUM $16.2 billion $102.5 million Beta measures price volatility relative to the S&P 500; beta is calculated from five-year weekly returns. The 1-yr return represents total return over the trailing 12 months. XLP is more affordable to hold, with a 0.08% expense ratio versus PBJ’s 0.61%, and also pays a higher yield, making it more attractive for cost- and income-focused investors. Performance & Risk Comparison Metric XLP PBJ Max drawdown (5 y) -16.31% -15.84% Growth of $1,000 over 5 years $1,323 $1,293 What's Inside PBJ tracks 31 U.S. food and beverage companies, drawing 89% of its portfolio from consumer defensive names but also including basic materials and industrials for added diversification. Its top holdings as of early Feb. 2026 are Corteva Inc (CTVA +0.93%), Sysco Corp (SYY +1.12%), and Monster Beverage Corp (MNST 0.92%), each near 5%. The fund has been around for over 20 years and rebalances quarterly, which may introduce some turnover and sector rotation not found in traditional index funds. By contrast, XLP is tightly focused on the consumer ...

Getty Images In my previous article on the Franklin FTSE India ETF ( FLIN ), I rated the fund a ‘Buy’ largely due to the landmark free trade deal between the EU and India (EU-India FTA). I concluded that economic growth in the country will continue, benefiting broad market India funds such as FLIN. While I am generally bullish on India as a whole, I do not think all India funds are created equal. Previously , I also covered the Invesco India ETF ( PIN ), giving the fund a ‘Sell’ rating. I concluded that due to a lack of momentum, higher expense ratios, and failure to outperform despite an emphasis on quality, investors should avoid the Invesco India ETF. That said, I now turn to the Columbia India Consumer ETF ( INCO ). My investment thesis is the following: While exposure to Indian consumer companies provides a structural narrative for long-term growth, the narrow exposure minimizes the immediate benefits provided by new trade deals. While trade deals like the EU-India FTA will likely have a positive effect on Indian funds overall, broad exposure, including exposure to Indian financial and tech services, stands to gain the most in the short term. For these reasons, I rate INCO a ‘Hold.’ Fund History The Columbia India Consumer ETF has an inception dating back to August 2011, providing us roughly 15 years of fund management and history to consider. According to the fund’s website, INCO’s objective is “[to achieve] investment results that correspond, before fees and expenses, to the price and yield performance of the Indxx India Consumer Index.” – Fund website Its peers consist of other India ETFs such as First Trust India NIFTY 50 Equal Weight ETF ( NFTY ), iShares MSCI India Small-Cap ETF ( SMIN ), VanEck India Growth Leaders ETF ( GLIN ), Invesco India ETF ( PIN ), and Franklin FTSE India ETF ( FLIN ). Furthermore, fund manager Columbia Threadneedle is a global leader in the mutual fund and ETF space. The firm has an international presence, managing $678 billion i...

Image source: The Motley Fool. Tuesday, Aug. 5, 2025 at 10 a.m. ET Call participants Chief Executive Officer — Kevin Timothy Hogan Chief Financial Officer — Elias Farid Habayeb Head of Investor Relations — Isil Muderrisoglu Takeaways Variable annuity reinsurance transaction -- Corebridge closed the AGL portion, representing about 90% of the transaction, generating $2.1 billion in net distributable proceeds, with the remainder expected to close in the fourth quarter, subject to regulatory approvals. -- Corebridge closed the AGL portion, representing about 90% of the transaction, generating $2.1 billion in net distributable proceeds, with the remainder expected to close in the fourth quarter, subject to regulatory approvals. Adjusted pretax operating income -- $942 million, with operating earnings per share of $1.36, a 20% increase year over year and no notable items in the quarter. -- $942 million, with operating earnings per share of $1.36, a 20% increase year over year and no notable items in the quarter. Operating earnings per share (run rate) -- $1.30, representing an 8% year-over-year increase, and an adjusted run rate return on equity of 13.7%, up 90 basis points. -- $1.30, representing an 8% year-over-year increase, and an adjusted run rate return on equity of 13.7%, up 90 basis points. Individual retirement net inflows (excluding variable annuities) -- $3.2 billion, up 4% year over year and more than double sequentially, a company high point. -- $3.2 billion, up 4% year over year and more than double sequentially, a company high point. Individual retirement record sales -- $6.8 billion in premiums and deposits this quarter, including $500 million from the recently launched RILA product. -- $6.8 billion in premiums and deposits this quarter, including $500 million from the recently launched RILA product. Group retirement business -- Fee earning assets increased 7% sequentially, and out-of-plan deposits rose 22% within the quarter; base spread income decreased ...

Weighing cost, scale, and portfolio focus, these ETFs take distinctly different approaches to investment-grade bond exposure. The iShares 3-7 Year Treasury Bond ETF (NASDAQ:IEI) and the Fidelity Investment Grade Bond ETF (NYSEMKT:FIGB) differ most in cost, yield, and risk: IEI is more affordable and larger, while FIGB pays a higher yield but has seen sharper downturns. Expand NASDAQ : IEI iShares Trust - iShares 3-7 Year Treasury Bond ETF Today's Change ( 0.20 %) $ 0.24 Current Price $ 119.62 Key Data Points Day's Range $ 119.58 - $ 119.67 52wk Range $ 115.18 - $ 120.44 Volume 198K IEI aims to track the performance of U.S. Treasury bonds with maturities of 3 to 7 years, offering a pure-play on government debt. FIGB, in contrast, provides exposure to a broader set of U.S. investment-grade bonds, including corporates, for investors seeking diversification beyond Treasuries. This comparison looks at cost, performance, risk, and what is inside each fund. Snapshot (cost & size) Metric IEI FIGB Issuer IShares Fidelity Expense ratio 0.15% 0.36% 1-yr return (as of Feb. 9, 2026) 6.7% 6.8% Dividend yield 3.5% 4.1% Beta 0.71 1.01 AUM $17.9 billion $327 million Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. IEI is more affordable with a 0.15% expense ratio, compared to FIGB’s 0.36%. While FIGB offers a higher dividend yield at 4.1%, IEI’s lower cost and higher assets under management (AUM) may appeal to cost-conscious investors or those seeking greater liquidity. Performance & risk comparison Metric IEI FIGB Max drawdown (4 y) (10.9%) (15.6%) Growth of $1,000 over 4 years $1,057 $1,038 What's inside FIGB is designed to provide diversified exposure to U.S. investment-grade bonds, with 653 holdings as of Jan. 30, 2026. With nearly five years on the market, its top holdings include U.S. Treasury Notes 4.25% and other similar securities. Almost half, or 4...

Team GB's Jen Dodds and Bruce Mouat say their loss "hurts" after being edged out by hosts Italy in the curling mixed doubles bronze medal game - echoing their heartbreak from missing out on bronze in Beijing four years ago. READ MORE: Mouat & Dodds denied bronze as GB medal wait continues Available to UK users only.

EvgenyMiroshnichenko/iStock via Getty Images Investment Thesis I think the title already makes it clear that my view here is a Sell, and it’s worth being explicit about the reason from the start. Not because Vale S.A. ( VALE ) is a bad company... quite the opposite. We’re talking about a business with a solid operation, consistent execution, strong cash generation, and a valuation that, taken in isolation, doesn’t look stretched. From several angles, Vale is still a very good company. For me, the issue is much less about the company itself and much more about where we are in the cycle and the price the market is paying right now. Vale is an extremely cyclical business, highly sensitive to iron ore prices and to overall sentiment toward commodities. In moments like the current one, when the stock has rallied meaningfully (up roughly 75% over the past 12 months in BRL), the narrative improves, flows come in, and the name moves back to the center of attention, a sense of comfort tends to build. TradingView Historically, this is exactly the type of environment in which risk starts to quietly shift toward the downside of the asymmetry. In my view, the current price already embeds a fairly constructive scenario, with iron ore at favorable levels, operations running smoothly, and limited short-term friction. For the stock to continue delivering strong performance from here, the cycle would need to remain supportive for longer, or new positive surprises would need to emerge. With cyclical businesses, that is usually not the most comfortable bet when the price is already elevated on a historical basis. On top of that, Vale is one of the main reference stocks in the Brazilian market, alongside Petrobras ( PBR ). This makes it widely used for swing and position trades, especially by institutional investors and large local players. When the stock rallies quickly and starts to attract more "delayed" retail interest, the probability of profit-taking increases, even if fundamental...

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格隆汇2月10日｜联合国贸易和发展会议（贸发会议）10日发布报告指出，最不发达国家服务业虽在迅速扩张，但增长仍集中于维持生计的低生产率活动，无法创造大规模繁荣。 贸发会议《2025年最不发达国家报告》指出，尽管服务业的作用日益增强，2024年最不发达国家人均增长率依然疲软。就业市场以非正规零售、个人服务和生计型活动为主，能够支撑工业化与竞争力的高生产率服务业发展不足。

US equity markets are moving more money than ever before, blowing past $1 trillion in shares traded each day as heavy volume becomes the new norm. The surge marks a sharp step-up from a year ago. Equity turnover averaged a record $1.03 trillion in January, a roughly 50% increase from the same period in 2025, according to data compiled by Bloomberg Intelligence. More than 19 billion shares traded hands daily over the span, the second-most ever, the data show. The jump reflects a broad-based increase in participation across the market. Mom-and-pop investors and institutional players alike have become more active as US stocks hover near record highs. Yet the influx is unfolding amid concerns over stretched valuations , raising the stakes for those crowding into the market. “There’s more trading from retail, pod shops and hedge funds, and market makers, while automated trading is more prevalent than ever,” said Bloomberg Intelligence market structure research analyst Jackson Gutenplan . “To a certain extent, trading incentivizes more trading. More liquidity makes it easier to get in and out of positions.” Unlike past episodes when trading surges were driven by volatility spikes, January’s jump in volume came amid relatively calm markets. The Cboe Volatility Index averaged 16.2 last month, underscoring that market turmoil was not a prerequisite for the heavy turnover, and signaling “strong, sustained liquidity,” Gutenplan and colleague Larry R. Tabb wrote in a report Monday. Read More: Record $1 Trillion in Equity Turnover May Be New Trading Norm One reason for the increase in trading is the rally itself. The higher stocks rise, the more money needed to transact the same number of shares. The S&P 500 Index advanced 15% in the 12 months through the end of January. But higher prices alone don’t explain the persistence of the volume surge. Across all of 2025, 93 sessions saw the number of shares traded eclipse 18 billion, roughly 37% of all trading days. In January, 14 of 2...

Morgan Stanley ( MS ) is rehiring Michael Grimes, its former star tech investment banker who left the bank for a brief stint with the Trump administration, to head its investment banking business, according to a media report on Tuesday. The banker, who has been a close adviser of Elon Musk, is returning to Wall Street as investment banks jockey for a piece of SpaceX's ( SPACE ) initial public offering. The deal, poised to be the world's largest IPO, is set to produce massive fees for banks. "We have asked Michael to bring his expertise to the full banking and [institutional securities group] franchise, particularly as technology transforms productivity and impacts global industrial policy," Morgan Stanley executives wrote in a memo to employees, according to the Financial Times . For the past year, Grimes worked as an adviser in the U.S. Commerce Department and headed the government's investment unit. He essentially acted as an in-house dealmaker for the administration, which has acquired several stakes in strategic companies, including chipmaker Intel ( INTC ) and minerals producer USA Rare Earth ( USAR ), the FT reported . At Morgan Stanley, he played important roles in leading some of the biggest tech IPOs, including Facebook and Airbnb. He also helped advise Musk on financing his $44B acquisition of Twitter, since renamed X. Grimes gained fame in Wall Street lore as the investment banker who became an Uber driver to help Morgan Stanley ( MS ) win a prime role in the rideshare company's IPO in 2019. Morgan Stanley stock rose 0.6% in Tuesday morning trading. The company didn't immediately respond to Seeking Alpha's request for comment. More on Morgan Stanley Morgan Stanley: I Was Overly Critical But Valuation Worries Are Real (Rating Upgrade) Morgan Stanley Keeps Pushing Morgan Stanley (MS) Q4 2025 Earnings Call Transcript Insider trades: Merck, Intel, Micron among notable names Insider trades: JNJ, Intel, IBM among notable names

Image source: The Motley Fool. Tuesday, November 4, 2025 at 10 a.m. ET Call participants Chief Executive Officer — Kevin Hogan Chief Financial Officer — Elias Habayeb Head of Investor Relations — Isil Muderrisoglu Need a quote from a Motley Fool analyst? Email [email protected] Takeaways Adjusted Pretax Operating Income -- $678 million, excluding VII and notable items, with a $98 million charge from the annual actuarial assumption update disclosed. -- $678 million, excluding VII and notable items, with a $98 million charge from the annual actuarial assumption update disclosed. Operating Earnings Per Share (EPS) -- $0.99 per share, including the notable actuarial charge; run rate operating EPS of $1.21 when adjusting for long-term alternative investment return expectations and notable items, representing a 6% increase year over year. -- $0.99 per share, including the notable actuarial charge; run rate operating EPS of $1.21 when adjusting for long-term alternative investment return expectations and notable items, representing a 6% increase year over year. Adjusted Run Rate Return on Equity (ROE) -- 12.9%, up 70 basis points year over year after adjusting for alternative investment returns and notable items. -- 12.9%, up 70 basis points year over year after adjusting for alternative investment returns and notable items. Total Premiums and Deposits -- $12.3 billion, with record performance in Individual Retirement and significant contributions from Institutional Markets (GICs and pension risk transfer). -- $12.3 billion, with record performance in Individual Retirement and significant contributions from Institutional Markets (GICs and pension risk transfer). RILA Product Sales -- Nearly $800 million in the quarter and more than $1.7 billion year-to-date; recently approved for sale in New York, with launch expected by year-end. -- Nearly $800 million in the quarter and more than $1.7 billion year-to-date; recently approved for sale in New York, with launch expected by y...