Rochester,NY 7/2/2009 9:33:39 PM
MS -UPDATE 1-MSCI posts higher Q2 profit
Morgan Stanley
Morning Movers - MS -UPDATE 1-MSCI posts higher Q2 profit - Sourced WhisperFromWallStreet.com
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Morgan Stanley,MS
After Hours: 27.37 Down 0.99 (3.49%) 10:29AM ET
Q2 EPS $0.19 vs $0.18 year ago
Q2 operating rev $109.4 mln vs $108.2 mln last year
Q2 core retention rate falls
July 2 (Reuters) - MSCI Inc (MXB.N), the investment analysis and market index company, posted a 5 percent rise in quarterly profit, helped by higher revenue related to equity indices and lower expenses, but warned that its client retention rate remains under pressure.
For the second quarter ended May 31, net income rose to $19.6 million, or 19 cents per share, from $18.6 million, or 18 cents, a year earlier.
Operating revenue rose 1 percent to $109.4 million. Revenue related to equity indices increased 4 percent to $62.5 million.
Operating expenses fell more than 3 percent to $72.7 million in the quarter, said the company, which was spun-off from Morgan Stanley (MS.N) in 2007.
Analysts on average expected earnings of 24 cents a share, excluding special items, on revenue of $104.9 million, according to Reuters Estimates.
About
Morgan Stanley, through its subsidiaries and affiliates, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company operates in three segments: Institutional Securities, Global Wealth Management Group, and Asset Management. The Institutional Securities segment engages in various activities, including capital raising; provision of financial advisory services principally on mergers and acquisitions, divestitures, corporate defense strategies, joint ventures, privatizations, recapitalizations, spin-offs, corporate restructurings, shareholder relations, tender offers, exchange offers, and leveraged buyouts; corporate lending; sales, trading, financing, and market-making activities in equity and fixed income securities and related products comprising foreign exchange and commodities; benchmark indices and risk management analytics; and investment. The Global Wealth Management Group segment provides brokerage and investment advisory services covering various investment alternatives comprising equities, options, futures, foreign currencies, precious metals, fixed income securities, mutual funds, and structured products, unit investment trusts, and managed accounts.
Last Trade: 27.37
Day's Range: 27.30 - 28.05
52wk Range: 6.71 - 46.58
Volume: 6.71 - 46.58
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