Morgan Stanley stated this morning, Wednesday that its first-quarter profit skyrocketed to $1.41 billion on strong trading operations production. Morgan Stanley trades on the “New York Stock Exchange” under the stock symbol “MS”. For More information regarding the “MS” or the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/. Join today and be part of the best free investment newsletter on the web where we focus on market moving news.
Morgan Stanley (NYSE:MS) stated this morning, Wednesday, April 21, 2010 that its first-quarter profit skyrocketed to $1.41 billion on strong trading operations production. The investment bank said it had $4.1 billion in sales and trading revenue, which is nearly triple the earnings from a year prior that was set at$1.4 billion. Profit after payment of preferred stock dividends came to 99 cents per share on revenue of $9.08 billion. Earnings also got a boost from a special $382 million tax benefit. The benefit lifted earnings by 21 cents per share. Morgan Stanley said its investment banking business revenues rose to $887 million from $811 million during the first quarter last year. Investment banking includes raising money for stock and bond offerings
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