Morgan Stanley Jumps 3% on Dallas Expansion for 4,800 Employees
Updated
Updated · Yahoo Finance · Aug 21
Morgan Stanley Jumps 3% on Dallas Expansion for 4,800 Employees
3 articles · Updated · Yahoo Finance · Aug 21
Summary
More than 3% gains on Friday followed reports that Morgan Stanley chose Dallas for a major expansion, with the move expected to affect up to 4,800 employees by 2031.
709,000 square feet in a newly built Dallas tower would make the bank the anchor tenant, according to the New York Post, after an initial phase placing it in 255,000 square feet at Fountain Place.
$18.5 million in conditional city incentives helped lure the firm, after Dallas approved the package in June to attract more financial-sector jobs.
The expansion signal reinforced investor optimism around Morgan Stanley's business as strong capital-markets activity and continued U.S. economic growth support large Wall Street firms.