Analysts Are Neutral on These Financial Stocks: Morgan Stanley (MS), Unicaja Banco SA (UNJCF)We expect a positive response to these results, given a 2% core revenue beat, 70.7% core efficiency (130bps better than the 23.9% core ROTCE (650bps above consensus), while tangible book value per share increased 3% QoQ to $47 .25. The core revenue beat was broad-based, with capital markets (5% better than the Street), and investment management 3% higher. We expect wealth management flows to be received positively, after MS delivered 3.9%/7 .3% total NNA/fee-based flows annualized growth, and focus on the 2025 wealth NII trajectory, after ~0.5% QoQ growth in wealth NII, better than previous guidance for down QoQ, and on what the company says on the IBanking and trading outlook, as well as on capital return.