Morgan Stanley Earnings Up 35%
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From Bloomberg News
Morgan Stanley, the second-largest U.S. securities firm, said fiscal first-quarter earnings increased 35%, boosted by gains from trading, selling and underwriting stocks.
Net income in the quarter ended Feb. 29 rose to $1.23 billion, or $1.11 a share, from $905 million, or 82 cents, a year earlier, the New York-based company said in a statement. Revenue advanced 14% to $6.24 billion from $5.47 billion.
Morgan Stanley shares fell 55 cents to $59.91 on the NYSE.
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