Goldman and Morgan Stanley Fortunes Split as Strategies Diverge

  • Goldman’s book of new investment-banking business shrinks
  • Morgan Stanley gets a boost from wealth-management unit
Goldman Sachs Misses 4Q Net Revenue Estimates
Lock
This article is for subscribers only.

Wall Street investors are punishing Goldman Sachs Group Inc. for its identity crisis and rewarding Morgan Stanley for its clear strategy.

Goldman posted the second-biggest loss in the S&P 500 and its longtime rival was the second-biggest winner Tuesday.