Morgan Stanley profit falls 17%
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Morgan Stanley yesterday said third-quarter profit sank 17 percent, as the number two US investment bank was forced to write down nearly $1 billion worth of loans amid the summer's global credit crisis.
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U.S. investment bank Morgan Stanley  MWD.N on Wednesday said quarterly profit dropped 34 percent  amid reduced trading revenue, falling well short of Wall  Street's already-lowered expectations and pushing the company's  shares down more than 8 percent.
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By Stan Choe   Associated Press writer  NEW YORK -- Investment banking firm Morgan Stanley on Wednesday said its third-quarter profit surged on stronger investment-banking and trading business, surpassing analysts' expectations.
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JPMorgan Chase &amp; Co. third quarter profits fell 13 percent, mainly because of weakness in trading operations and costs related to its merger with Bank One.
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Morgan Stanley and Bear Stearns Companies posted a drop in quarterly profits on Wednesday, surprising some investors one day after two other big investment banks reported a rise in earnings.
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The investment firm posts a strong profit report, but shares slid.
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Bank of New York Mellon Corp  said on Thursday fourth-quarter profit fell, reflecting a one-time gain a year earlier.
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US investment bank Morgan Stanley on Wednesday said quarterly profit dropped by a third on lower bond trading revenue, weak equities results and higher expenses, falling
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Pharmaceutical wholesaler McKesson Corp  reported on Thursday that its quarterly profit fell 17 percent as results were hurt by lower profit margins on certain generic drugs and charges taken.
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Bank of New York Mellon Corp   said on Thursday fourth-quarter profit fell, reflecting a  one-time gain a year earlier.
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JPMorgan Chase & Co  said on  Wednesday quarterly profit fell a worse-than-expected 24  percent as the No. 3 U.S. bank lost $1.3 billion on risky  mortgages and set aside more money for rising losses on  home-equity and auto loans.
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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 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.
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3M Co. MMM.N on Monday reported a 17  percent rise in third-quarter earnings due in part to the weak  dollar, but the diversified manufacturer's results fell short  of Wall Street's estimates for the first time in nearly four  years, sending shares down 5 percent.
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J.P. Morgan Chase & Co. JPM.N posted  lower third-quarter earnings on Wednesday, missing analyst  expectations, as costs from its July merger with Bank One Corp.  and anemic fixed-income trading revenue hurt profits.
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JPMorgan Chase & Co  said on  Wednesday quarterly profit fell a worse-than-expected 24  percent as the No. 3 U.S. bank lost $1.3 billion on risky  mortgages and set aside more money for rising losses on  home-equity loans.
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J.P. Morgan Chase & Co. , the No. 2 U.S. bank, said  on Wednesday profit fell in the third quarter, missing analyst expectations, as a result of costs from its July merger with Bank One Corp. and lower fixed-income revenues.