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VOL. 35 | NO. 15 | Friday, April 15, 2011




Morgan Stanley's income falls on weak trading

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NEW YORK (AP) — Morgan Stanley's income fell 48 percent in the first quarter on a sharp drop in revenue from sales and trading of fixed-income securities and commodities.

The New York investment bank on Thursday said it earned $736 million, or 50 cents per share, compared with $1.4 billion, or 99 cents a share in the first quarter of last year. The earnings were well ahead of the 42 cents per share estimated by analysts surveyed by FactSet.

Revenue fell 16 percent to $7.6 billion.

Morgan Stanley's revenues from fixed income and commodities sales and trading fell to $1.8 billion compared with $2.7 billion.

Morgan Stanley's stock rose 2.2 percent to $26.60 in pre-market trading.

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TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0