Market Focus

Morgan Stanley

A beat on both the top and bottom lines for Morgan Stanley. The bank posted its strongest results in years, as it was helped by higher revenue from trading bonds and equities. The firm benefited from busy markets and a slew of corporate mergers. Shares rose a fraction to $36.96.

Hasbro

Despite the strong dollar, Hasbro managed to come out on top for the quarter. The toy maker’s earnings and revenue beat Wall Street’s estimates by a wide margin. This as it saw particularly strong performance in its transformer toys and pre-school unit. Shares popped 12.5 percent to $74.16, making it today’s best-performer in the S&P 500.

Halliburton

Cost cuts helped Halliburton pull off an earnings beat. The oilfield services provider managed to offset a steep drop in drilling in North America, which is its biggest market. The company says it is planning to lay off more employees as it expects the oil sector to remain “challenged.” The stock was two percent higher to $47.85.

SunTrust

SunTrust saw its profit edge up in its most recent quarter, while revenue was in line with estimates. The bank was helped by lower expenses and growth in non-interest income. Shares rose a fraction to $41.77.

Royal Caribbean

Royal Caribbean cut its 2015 outlook and issued second quarter guidance that is well below estimates. The cruise ship company says it was hit by the strong U.S. dollar and higher fuel prices. Shares tumbled eight percent to $72.71, it was today’s worst performing S&P 500 stock.

Raytheon

The defense contractor Raytheon announced a deal to buy control of a cyber security firm called Websense, for nearly $2 billion. Websense is privately held by vista equity partners. Shares of Raytheon were off a fraction to $107.49.

General Electric

And General Electric is in talks with Wells Fargo about selling its entire $74 billion commercial lending and leasing business portfolio to the bank, according to reports. Other companies may also be talking to the GE about a purchase, this as GE announced plans earlier this month to exit the bulk of its capital business and focus more on industrial manufacturing. General electric fell a fraction to $27.02. Wells Fargo was up a fraction to $54.36.

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