Slow trading sees Morgan Stanley profit slump 34%
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MORGAN Stanley, the American investment bank, has seen its quarterly profits slide 34 per cent amid reduced trading revenues. The latest figure fell well short of Wall Streetâs already-lowered expectations after a summer of sluggish market activity.
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Morgan Stanley  on Wednesday  said its third-quarter earnings fell, reflecting damage caused  by the broad sell-off in mortgage and corporate loan markets  this summer, though revenue rose on strong investment banking  and stock trading.
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Disappointing earnings from Morgan Stanley (MWD) and oil prices topping $48 per barrel sent stocks sharply lower Wednesday as investors moved to protect their recent gains.
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Stocks were lower on Wednesday after  investment bank Morgan Stanley MWD.N reported lower quarterly  profit and a U.S. regulator challenged Fannie Mae's FNM.N  accounting methods.
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JP Morgan Chase &amp; Company, the nation&#39;s second-largest bank, surprised Wall Street today with a sharp drop in third-quarter earnings, attributing the weaker performance to poor results in fixed-income trading.
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Slashed earnings estimate pulls down shares.
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Morgan Stanley  on Wednesday  posted a stunning fourth-quarter loss after recording a  bigger-than-expected $9.4 billion of write-downs and said it  sold a $5 billion stake to China Investment Corp to bolster its  capital.
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Business & money: Share price plunges after disappointing profits raising fears over America's economic slowdown
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US investment bank Morgan Stanley (MWD.N: Quote, Profile, Research) on Wednesday said quarterly profit dropped 34 percent amid reduced trading revenue, falling well short of Wall Street&#39;s already-lowered expectations after a
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Investment bank misses estimates as trading income plunges, other units fail to pick up the slack. By Rob Cox, Breakingviews. LONDON (Breakingviews) - Morgan Stanley is the first to slip.
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Morgan Stanley , the  second-largest investment bank by market value, said on Tuesday  it would spin off its Discover credit-card division as  quarterly profit fell 11 percent.
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JPMorgan Chase said its fourth-quarter net income fell 34 percent as problems from the housing slump widened in its investment banking and consumer businesses.
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Diversified manufacturer 3M Co.   posted a weaker-than-expected quarterly profit on Tuesday and  said global economic growth was slowing, sending its shares  down 4.7 percent and weighing heavily on blue chip stocks  overall.
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Stocks fell sharply on Wednesday after  oil prices climbed above $48 a barrel and investment bank  Morgan Stanley MWD.N reported a decline in quarterly profit,  stirring concern about corporate earnings.
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Morgan Stanley  on Wednesday said third-quarter profit fell as the summertime freeze in mortgage and corporate loan markets forced the bank to mark loans down by $940 million, but shares held their own on optimism that financial markets may be starting to revive.
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Wall Street was lower at mid-morning on Monday, with Microsoft shares down after a European Union court ruling and investors on guard ahead of earnings from investment banks this week. Light trading activity is expected as investors await the outcome of the Federal Reserve&#39;s policy meeting on Tuesday.
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Morgan Stanley and Bear Stearns Cos. said fiscal third-quarter earnings fell, their first declines in more than a year. The results sparked concern that Wall Street profits are slowing, and shares of many securities firms dropped.