A file photo showing the logo of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton Jan 17 (Reuters) – Shares in Morgan Stanley (MS.N) soared over 7% in early trading as the bank reported a smaller-than-expected 41% drop in fourth-quarter profit on Tuesday, driven by higher revenue at its wealth management division and a boost from its trading business. The bank’s performance in those sectors helped offset sluggish dealmaking activity in the face of rapidly deteriorating macroeconomic conditions and geopolitical tensions. UBS in a note said Morgan Stanley’s fourth-quarter core trends were encouraging. Revenue from Morgan Stanley’s investment banking business fell 49% to $1.25 billion in the fourth quarter, with revenue declines across the bank’s advisory, equity and fixed income segments. The investment banking business slowdown weighed on the company’s net revenue, pulling it down 12% to $12.7 billion. "I am highly confident that when the Fed pauses, deal activity and underwriting activity will go up," Chief Executive Officer James Gorman told analysts in a call. Latest Updates Still, Chief Financial Officer Sharon Yeshaya told Reuters earlier on Tuesday that the bank is comfortable with its headcount after recent layoffs. Morgan Stanley had cut 2% […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
