Morgan Stanley

July 21, 2010 by staff 

Morgan StanleyMorgan Stanley, Morgan Stanley reported the last of the big Wall Street banks to release results for the second quarter on Wednesday, reporting income from continuing operations of $ 1.46 billion and againstanlysts’ expectations, the New York Times Graham Bowley.

The robust results emphasize the use of Morgan Stanley since his near-death experience during the credit crisis. It was helped by strong trading results, which show that they had expected more success in navigating the volatile markets of the second quarter than many.

The result in the three months to June were $ 1.09 share, compared with a loss of $ 1.10 share in the same period last year, said Morgan Stanley. Net profit attributable to shareholders was $ 1.58 billion, compared with a loss of 1.26 billion and in the period a year ago.

Sales were 7.95 billion and an increase of 53 percent in the quarter a year ago.

Analysts had been expecting earnings of about 46 cents a share on revenue of $ 7.93 billion.

Revenue from its Institutional Securities Division, which covers trade, were particularly hard hit by AT $ 4.5 billion and well ahead compared to the same period a year ago.

Goldman Sachs, Morgan’s longtime rival, giant and other financial institutions such as JPMorgan Chase, Bank of America and Citigroup, had already disappointing results from its trading business when it reported second quarter results announced.

Goldman Sachs on Tuesday reported its worst quarterly performance since the depths of the financial crisis in late 2008, as profits affected by the turmoil in the markets were, and the cost of settling an embarrassing civil fraud suit filed with the Securities and Exchange Commission.

The banks have a drastic slowdown in reporting trade in shares, bonds and currencies from investors through the fear of a European debt crisis and rattled in the wild stock market swings in May

Goldman reported a profit of $ 613 million.

Morgan Stanley cut their trading activities after painful losses in the turmoil of the credit crisis. But this meant it missed the boom in the markets in recent years as rivals such as Goldman took big bets made and strong gains from trade.

Repulsed others like Goldman and JPMorgan, it did not turn a profit until the third quarter last year.

Morgan Stanley has since moved to its trading activities, a strategy that paid well in the first quarter of 2010 with rebuild a $ 1.8 billion profit. Then his trading unit generated $ 4.1 billion in sales for the quarter.

It was a good start for chief executive of Morgan Stanley, James P. Gorman, who took over at the head of the bank in January. Morgan has also expanded its wealth management unit.

Morgan Stanley shares closed at 25.22 and on Tuesday, down from a high for the year of about $ 33 in January but the lows for the year of below $ 23 earlier this month.

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