Table of Contents

• Morgan Stanley

• Amazon

Top Stories Today

Economy & Finance

Morgan Stanley

Morgan Stanley surpassed analysts' projections for the third quarter, with profits up by 32% to $3.2 billion, or $1.88 per share, and revenue climbing 16% to $15.38 billion. Strong performances across its divisions contributed to this growth, fueled by favorable market conditions that boosted wealth management and an investment banking rebound after a tough 2023. The bank’s wealth management revenue increased by 14%, reaching $7.27 billion, while equity trading rose 21% to $3.05 billion. Fixed income and investment banking also exceeded expectations, driven by a rise in trading activity and strategic deals. CEO Ted Pick highlighted the supportive environment for these results, as Morgan Stanley shares surged 7.5% following the announcement.

Technology

Amazon

Amazon unveiled its first color Kindle, the 'Kindle Colorsoft,' priced at $280 and featuring LED technology for vibrant displays. After years of experimenting with eInk for color, Amazon settled on LEDs to provide a more immersive reading experience. The Colorsoft offers an eight-week battery life, shorter than the latest Paperwhite model, which also received a slight size upgrade. Additionally, Amazon introduced an updated Kindle Scribe that converts handwritten notes into text summaries with AI. With more than three-quarters of the e-reader market, Amazon continues to expand its Kindle lineup, including the Colorsoft, which ships on October 30, and the new Scribe on December 4.

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