christopher kotowski is a long time bank watcher with oppenheimer and joins us with reactions. to have you with us. what do you think of a reaction to goldman being up and morgan stanley being down? chris: honestly when i got the press releases -- you get the press releases within the company of minutes of each other in the morning and you go through them, i thought morgan stanley was a little bit light and goldman was a little bit better than expected. but also a big part of goldman's beat was equity investments. i didn't think we would get this kind of reaction that we seem to be getting today. i suspect may be your prior story about the block trading also weighs on the stock today. i don't think the earnings reports or that different from expectations that you would have this kind of diversions. sonali: almost a 5% decline in morgan stanley. one of the richest banks leading into this moment. but is this about gorman premium starting to fade? i am sure he didn't wake up and what that reaction, but is it a function of higher compensation costs? what are his headwinds at this p