Morgan Stanley profit hit by credit crunch
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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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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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Bank of New York Mellon Corp  said on Thursday quarterly profit fell 72 percent amid disruptions from capital and credit markets, but results topped forecasts as fees from asset management and institutional clients grew at a double-digit pace.
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The bank was hurt by a spike in consumer credit costs and the poor performance of an investment banking unit.
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Morgan Stanley, the No. 2 U.S. investment bank, reported a $9.4 billion writedown on Wednesday from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government
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The bank said its fourth-quarter earnings fell sharply,  to $268 million from $5.26 billion a year earlier, hurt by mounting credit losses and weak investment banking results.
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US investment bank Morgan Stanley is to sell off its credit card unit, Discover after posting better than expected results.
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Disappointing earnings from Morgan Stanley and a new spike in oil prices sent stocks lower in early trading Wednesday as investors&#39; worries over third-quarter earnings increased.
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U.S. investment bank Morgan Stanley  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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Morgan Stanley follows Lehman Brothers' lead and reports a small fall in three-month profits.
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Morgan Stanley, the second-biggest US securities firm, on Wednesday reported lower-than-expected third-quarter profit on lower fees from trading stocks and bonds.
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Wall Streetâs first reports since this summerâs credit storm revealed extensive damage, but better-than-expected earnings this week from four brokerage firms offered some comfort.
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Morgan Stanley MWD.N and Bear  Stearns Cos. Inc. BSC.N, two of Wall Street's biggest  securities firms, on Tuesday said their quarterly profits rose  as a flurry of mergers and a year-end stock rally boosted  investment banking fees.
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JPMorgan Chase & Co.  said on Wednesday it tripled the amount set aside for loan losses as even borrowers with good credit defaulted on home equity loans, hurting the bank's quarterly profit.
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NEW YORK - Disappointing earnings from Morgan Stanley and oil prices topping $48 per barrel sent stocks sharply lower Wednesday as investors moved to protect their recent gains. The Dow Jones industrial average dropped 138 points...
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By STAN CHOE  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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NEW YORK - Stocks tumbled Wednesday as investors saw a surge in oil prices and disappointing earnings from Morgan Stanley as a reason to collect profits from gains of the last month. The Dow Jones industrial average dropped 135 points, and all three major indexes saw their biggest losses since early August...