Market Focus

Morgan Stanley

Morgan Stanley’s earnings more than doubled, beating estimates. Strong results from its wealth management and investment banking business helped offset a decline in trading revenue. That revenue from trading stocks, bonds and commodities was down 13 percent in the quarter. Shares were down a fraction to $32.30.

UnitedHealth

UnitedHealth Group also reported strong second quarter earnings, sending shares higher. The health insurer saw its revenue increase, helped by growth in its public and senior markets. It also cited the Affordable Care Act for its strong enrollment. On those results, the company hiked its full-year revenue forecast. That sent the stock up more than 1.5 percent to $85.11.

AutoNation

Shares of AutoNation dropped after the auto dealer posted earnings and revenue that missed analyst estimates. The company’s CEO did note that it was the 15th consecutive quarter of double-digit earnings growth, but still investors weren’t impressed. Shares were more than eight percent lower to $55.82.

Mattel

Mattel posted earnings that came in way below estimates and revenue that missed too. Second quarter profits plunged more than 60 percent, weighed down by costs tied to its acquisition of Mega Brands. Sales of its iconic Barbie doll also declined, the biggest drop since mid-2009. The stock was off 6.5 percent to $36.46.

First Third Bancorp

Regional lender Fifth Third Bancorp reported a drop in profits as its mortgage-banking revenue declined and it took litigation related charges. It also lowered its full-year guidance because of continued pressure on its mortgage business. Shares fell almost 6 percent to $20.28.

KeyCorp

KeyCorp, another regional bank, posted solid second-quarter profits and revenue, thanks to loan growth. The company also announced it reached a deal to buy Pacific Crest Securities a technology-focused investment bank and capital markets firm. Shares were down four percent to $13.62.

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