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Watch Morgan Stanley today
Just like Lehman & Sacks, they beat estimates.......:top:
Morgan Stanley 1Q EPS $1.45 Vs EPS $2.51 >MS
11 minutes ago - Dow Jones News
DOW JONES NEWSWIRES
Morgan Stanley (MS) reported fiscal first-quarter net income of $1.56 billion, or $1.45 a share, compared with $2.67 billion, or $2.51 in the year-earlier period.
Results for the latest period included mortgage proprietary trading net writedowns of $1.2 billion as well as $1.1 billion in other trading losses.
Net revenue fell 17% to $8.32 billion, the company said.
Wall Street analysts had forecast profit of $1.03 a share on revenue of $7.19 billion.
Morgan Stanley shares rose more than 17% during Tuesday's market rally sparked by the Federal Reserve interest-rate cut.
Worth noting is the $1.45 eps is versus estimates of 1.03, and rev of $8.32billion versus estimates of $7.19billion. This is in line with yesterdays GS and LEH numbers. Futures came back quite a bit off this mornings lows following the announcement. The market may take this and the V IPO and rally even in the face of futures pointing to a modest selloff of yesterdays gain.
Those are some damn good earnings.
I bet market opens highly optimistic today.
