Morgan Stanley posted its first quarterly profit in a year.
The decades-long rivalry between Goldman Sachs and Morgan Stanley is Wall Street's answer to Smokin' Joe Fraser vs. Muhammad Ali. And last week, Morgan Stanley won the bout over who could devise a more lucrative exit strategy from the TARP (Troubled Asset Relief Program) when the company was able to untangle itself from Uncle Sam for $150 million less than did Goldman Sachs. When Morgan Stanley and Goldman Sachs received TARP funds last fall, the two banks got the same deal -- $10 billion equity infusions. In exchange, Goldman and Morgan Stanley agreed to pay dividends and also granted the government free warrants to buy up to $1.5 billion worth of their respective stocks at set prices.
Morgan Stanley has left less on the table for Tim Geithner than Goldman Sachs did. The former has bought back its Troubled Asset Relief Program warrants for $950 million, against Goldman's $1.1 billion.
Morgan Stanley posted its third straight quarterly loss Wednesday, as the brokerage firm struggles to bounce back from last fall's market meltdown.
Why is Morgan Stanley hiring a hedge fund manager to run its fixed income client trading business? After all, the Wall Street firm is supposed to have disavowed proprietary trading. So putting a risk-taker in charge looks odd. But bringing Jack DiMaio on board could be a smart move.
Are banks finally in write-up territory? With most markets rallying this quarter, it's tempting to think so. And some firms should be able to show some gains. But these won't be as easy to track as improvements in prices imply.
Has the Federal Reserve been reading too many fairy tales?
Stressed out or not, some of the nation's biggest banks are awash in cash.
Morgan Stanley reported a much bigger-than-anticipated loss in the first quarter Wednesday, as the revenue at the bank's bread-and-butter equity sales and trading business plunged 74% from a year ago.
Stocks turned higher Wednesday morning, erasing early losses following Morgan Stanley's quarterly loss, as investors sought to revive the recent advance.
Morgan Stanley posted its first quarterly profit in a year.
The decades-long rivalry between Goldman Sachs and Morgan Stanley is Wall Street's answer to Smokin' Joe Fraser vs. Muhammad Ali. And last week, Morgan Stanley won the bout over who could devise a more lucrative exit strategy from the TARP (Troubled Asset Relief Program) when the company was able to untangle itself from Uncle Sam for $150 million less than did Goldman Sachs. When Morgan Stanley and Goldman Sachs received TARP funds last fall, the two banks got the same deal -- $10 billion equity infusions. In exchange, Goldman and Morgan Stanley agreed to pay dividends and also granted the government free warrants to buy up to $1.5 billion worth of their respective stocks at set prices.
Morgan Stanley has left less on the table for Tim Geithner than Goldman Sachs did. The former has bought back its Troubled Asset Relief Program warrants for $950 million, against Goldman's $1.1 billion.
Morgan Stanley posted its third straight quarterly loss Wednesday, as the brokerage firm struggles to bounce back from last fall's market meltdown.
Why is Morgan Stanley hiring a hedge fund manager to run its fixed income client trading business? After all, the Wall Street firm is supposed to have disavowed proprietary trading. So putting a risk-taker in charge looks odd. But bringing Jack DiMaio on board could be a smart move.
Are banks finally in write-up territory? With most markets rallying this quarter, it's tempting to think so. And some firms should be able to show some gains. But these won't be as easy to track as improvements in prices imply.
Has the Federal Reserve been reading too many fairy tales?
Stressed out or not, some of the nation's biggest banks are awash in cash.
Morgan Stanley reported a much bigger-than-anticipated loss in the first quarter Wednesday, as the revenue at the bank's bread-and-butter equity sales and trading business plunged 74% from a year ago.
Stocks turned higher Wednesday morning, erasing early losses following Morgan Stanley's quarterly loss, as investors sought to revive the recent advance.
And timing is everything when it comes to cashing in during the bailout.
Citigroup said late Tuesday that it plans to merge its Smith Barney brokerage division with that of peer Morgan Stanley, a move that is expected to mark the beginning of a break-up of the troubled banking giant.
Citigroup confirmed speculation Tuesday that it plans to merge its Smith Barney brokerage division with that of peer Morgan Stanley, a move that is expected to mark the beginning of a break-up of the troubled banking giant.
Financial stocks got pummeled Monday as investors brace for another round of terrible quarterly results.
Morgan Stanley reported a massive $2.3 billion quarter loss Tuesday that surpassed even the most dire predictions by analysts.
The outlook for the once venerated investment banks Goldman Sachs and Morgan Stanley has turned increasingly bleak.
The hits just keep on coming for Wall Street.
Morgan Stanley wrapped up plans to sell a part of itself to Mitsubishi UFJ for $9 billion, the two companies said Monday, reviving hopes that the Wall Street firm will be able to survive the credit crisis.
Shares of Wall Street investment bank Morgan Stanley plunged more than 20% Tuesday afternoon as rumors spread that Japanese bank Mitsubishi UFJ may pull out of plans to buy a big stake in the firm.
The decision by Goldman Sachs and Morgan Stanley to recast themselves as bank holding companies over the weekend may shake up the nation's banking landscape.
Volatility again swept the financial markets Monday as investors grew nervous about an amorphous government plan to buy $700 billion in banks' mortgage debt
Stocks slumped Monday, with the Dow losing 373 points, as investors worried about the specifics of the government's $700 billion bailout plan and rocketing oil prices - which saw its biggest one-day dollar gain ever.
The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks to change their status to bank holding companies
Morgan Stanley's stock price plunged again Thursday as the investment bank scrambled to strike a major deal or raise more cash that will assuage investors
Shares of the only two stand-alone U.S. investment banks left after last week get pummeled
Earnings at Morgan Stanley fell by more than half last quarter, hurt by a decline in its investment banking and sales and trading businesses, the company reported Wednesday.
Morgan Stanley on Wednesday became the latest Wall Street firm to suffer a profit decline while beating performance forecasts, providing some comfort to jittery investors.
Stock futures declined early Wednesday, a day after a deep Federal Reserve rate cut helped fuel a dramatic rally on Wall Street.
Morgan Stanley chief executive John Mack received $1.5 million in compensation for 2007, after agreeing not to take a bonus for the year because of the investment bank's poor fourth-quarter results, according to documents filed with the Securities and Exchange Commission Wednesday.
Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector.
Morgan Stanley stunned Wall Street Wednesday by taking an additional $5.7 billion mortgage-related writedown, while announcing a $5 billion cash injection from a Chinese state-run investment fund.
Stocks stalled Wednesday afternoon, after edging higher in morning trade, as investors mulled the outcome of the Fed's $20 billion auction and a bigger-than-expected writedown by Morgan Stanley.
Stocks rose Wednesday morning, despite a bigger-than-expected writedown by Morgan Stanley, as the Federal Reserve's $20 billion auction appeared to draw strong demand from the financial sector.
Stocks rose Wednesday morning, extending the previous session's advance, as investors mulled Morgan Stanley's earnings and the results of the Fed's Monday's auction.
Wall Street bank Morgan Stanley said Wednesday it received a $5 billion injection from China's state-run investment arm, becoming the latest financial firm to look overseas for cash.
Stocks opened mostly flat Wednesday, after Morgan Stanley reported an additional $5.7 billion in writedowns on its mortgage investments and investors awaited more word from the Federal Reserve on the credit situation.
U.S. stocks were poised for a lower start Wednesday as investors awaited more word from the Federal Reserve on the credit situation and weighed Morgan Stanley's $5.7 billion in additional writedowns on its mortgage investments.
In another sign of the collapse of the market for new homes, builder Lennar Corp. has dumped a portfolio of 11,000 properties for 40 percent of their previously-stated book value.
Stocks struggled higher Thursday, at the end of a bumpy session in which investors mulled weak home sales and mixed corporate news ahead of a key speech from Fed chairman Ben Bernanke in the evening.
Stocks slipped Wednesday afternoon, but were off session lows, as worries about the credit and mortgage market and higher oil prices were tempered a bit ahead of what for many will be a long holiday weekend.
Stocks cut losses Wednesday afternoon, but remained deep in the red as worries about the credit and mortgage market and record-high oil prices gave investors reason to bail ahead of the Thanksgiving holiday.
Stocks tumbled Wednesday afternoon, as worries about the credit and mortgage market crisis, record-high oil prices and the outlook for the consumer gave investors plenty of reasons to bail ahead of the Thanksgiving holiday.
Stock declined Wednesday afternoon, as investors took a breather after the recent run up and head of Friday's big monthly jobs report.
Stocks slipped Wednesday morning, as investors mulled the morning's economic news, including mostly in-line reports on the services sector of the economy and private sector employment.
The National Community Reinvestment Coalition on Monday filed a civil rights complaint against Morgan Stanley, alleging the investment bank discriminated against minorities seeking home loans.
Stocks rose Wednesday, gaining for a second session after the Fed cut a key interest rate by a half-point, reassuring investors worried that the mortgage and credit market malaise could send the economy into recession.
Stocks rose Wednesday afternoon, gaining for a second session, after the Fed cut a key interest rate by a half-point, reassuring investors worried that the mortgage and credit market malaise could send the economy into recession.
Morgan Stanley revealed just how vulnerable its business became during the recent credit crisis when it reported quarterly earnings Wednesday that missed Wall Street forecasts.
Stocks trimmed bigger morning gains, but remained positive Wednesday afternoon, as investors continued to breathe a sigh of relief that the Federal Reserve cut a key short-term interest rate by a half-percentage point.
A husband and wife admitted on Wednesday that they used confidential information she gained from her job at the Morgan Stanley financial services company to make $600,000 in profit trading stocks.
Stocks looked set to open higher Wednesday after stellar earnings from investment bank Morgan Stanley and in-line earnings from FedEx.
Morgan Stanley Wednesday said its second-quarter profit rose 40 percent, trouncing expectations as a number of trading and investment banking businesses achieved record results.
Stocks opened mixed Wednesday on impressive Morgan Stanley earnings and a Home Depot stock buyback, while investors awaited a key oil inventory report.
Morgan Stanley (MS) ranks no. 20 on FORTUNE's list of America's largest corporations.
If boutique investment banks could be measured on glitz alone, 10-month-old Perella Weinberg Partners LP undoubtedly would be leading the way.
Here are some of Wednesday's most actively traded stocks:
The subprime mortgage business has roiled markets recently but didn't dampen results at Morgan Stanley, which reported record quarterly earnings and revenue on Wednesday.
Stocks wobbled Wednesday afternoon as investors showed caution ahead of the Federal Reserve's latest comments on the economy and interest rates.
Stocks struggled Wednesday morning as investors welcomed upbeat earnings from Oracle and Morgan Stanley, but showed caution ahead of the Fed's latest comments on the economy and interest rates.
Morgan Stanley boss John Mack, who was ousted from the company in a bitter power struggle in 2001 only to fight his way back to its top spot in 2005, took home $41.4 million in 2006, a raise of about 38 percent, according to the company's proxy statement issued Friday.
Wall Street rivals Goldman Sachs Group and Morgan Stanley are quietly collaborating on a massive private-equity play for the oil and gas assets of utility company Dominion Resources, according to a published report.
Zoe Cruz, Co-President of Morgan Stanley, ranks No. 19 on Fortune's 2006 list of 50 Most Powerful Women.
As competition heats up in the investment banking world, Morgan Stanley is offering some of its most highly-paid employees sweet financial incentives to not only attract new blood to the company but keep high-level traders and bankers from jumping ship to competitors.
The typical business today is awash in e-mail, from the critical to the mundane to the absolutely worthless.
Morgan Stanley ranks no. 98 on FORTUNE's Global 500 this year, with $52.5 billion in revenues, up 32.7% from the previous year. The New York, New York-based company was ranked no. 107 on the 2005 list. Its 2005 profits were $4.9 billion, up 10.1% from a year earlier. 2005 was a banner year for most Global 500 companies.
Upbeat quarterly earnings reports from Oracle and Morgan Stanley lifted stocks Wednesday morning, giving investors something to focus on amid the Federal Reserve meeting, currently underway.
Morgan Stanley capped off an unexpectedly strong fiscal third quarter for investment banks with solid gains of its own and reiterated confidence that deal-making continues to be strong for the industry.
Among market benchmarks, all domestic-stock indexes fell for the third straight month, while the Morgan Stanley EAFE index, which tracks more than 1,000 European, Asian and Australian companies, ga...
Discover Card may not be the golden boy of the credit card industry but with some loyal backing from its parent Morgan Stanley and surprisingly strong financial results in recent quarters, the company has proven it has staying power in a fiercely competitive market.
Blue chips soared for the second straight session Wednesday, with the Dow Jones industrial average up over 100 points while the broader market posted solid gains, as investors cheered several strong earnings reports.
On a Friday in March, executives from some of the world's most powerful investment banks gathered at the Beijing headquarters of the Industrial & Commercial Bank of China to compete in one of the r...
With all the ink spilled over Morgan Stanley's failed attempt this February to buy asset-management juggernaut BlackRock -- which instead linked arms with Merrill Lynch -- you'd think this was a ma...
In the latest wave of defections, Jon Anda will leave Morgan Stanley to join a new financial services firm being formed by former top Morgan Stanley banker Joseph Perella, according to a news report Thursday.
A lot of people are reading the story about Morgan Stanley firing four men for going to a strip club with a client. And it's darn certain most of those downloads (I can see them on my magic counter) are coming from guys in shirts and ties thinking: "There but for the grace of God go I."
If the first day of trade in 2006 is a harbinger in Asia, expect a year of growing political tension, worsening inflation and volatile markets that continue on an upward march - but perhaps not the rocket- like path seen in the latter half of 2005.
Stocks got off to a sluggish start Tuesday despite upbeat reports on housing and inflation and surprisingly solid earnings from Morgan Stanley.
Morgan Stanley said Tuesday it has cut its outlook on global economic growth for 2006 in response to rising energy costs.
The Securities and Exchange Commission is threatening to fine Morgan Stanley more than $10 million for failing to keep e-mails related to several cases the regulatory agency brought against the Wall Street firm, a newspaper reported Tuesday.
Hardly anyone expected John Mack to return to Morgan Stanley. Least of all John Mack. Rising from bond salesman to president, he helped build the firm into a Wall Street powerhouse. In 2001 he quit...
The head of Morgan Stanley's retail brokerage unit, John Schaefer, who was also a close ally of former CEO Philip Purcell, is retiring, according to an internal company memo.
Shares of Morgan Stanley Inc. rose Tuesday after the brokerage was upgraded to "buy" from "neutral" by rival Merrill Lynch.
Morgan Stanley is considering former president John J. Mack as a candidate for chief executive of the Wall Street firm, according to media reports Thursday.
Morgan Stanley is reportedly rethinking its plans to spin off its Discover credit card unit, according to a report published Friday.
Morgan Stanley investors cheered the news that besieged chief executive Philip Purcell would be stepping down next March. Shares shot up nearly 2.5 percent Monday.
Morgan Stanley Chairman and Chief Executive Officer Philip J. Purcell Monday morning announced his intention to retire as soon as his successor is named, but no later than by the firm's next annual meeting in March 2006. He sent the following letter to all Morgan Stanley employees.
Morgan Stanley CEO Philip Purcell gave in to critics Monday, announcing his retirement as one of Wall Street's leading brokerage firms seeks to repair its sluggish earnings and battered image.
A jury began deliberating Friday on whether to award billionaire financier Ronald Perelman hundreds of millions of dollars from investment banking firm Morgan Stanley & Co., according to a report in the Palm Beach Post.
A Florida law firm has sued Morgan Stanley, seeking $100 million in damages from the Wall Street firm for failing to provide disgruntled clients with evidence that may have been relevant in hundreds of past arbitration cases.
Is Morgan Stanley excessively combative with regulators and the courts? That's what its critics charge, and if a $2.7 billion lawsuit brought by billionaire investor Ronald Perelman is any indicati...
At Morgan Stanley they have a nickname for the floor of the Midtown Manhattan skyscraper where investment bankers are given offices when they retire: Jurassic Park. It used to fit pretty well. This...
Joseph Perella and Terry Meguid, the two top investment bankers at Morgan Stanley (MWD), are expected to resign Wednesday in a double blow to the blue- chip securities firm, people familiar with their plans told The Wall Street Journal.
Morgan Stanley executives stepped up their attacks Wednesday on Robert Scott, the former president of the company who some dissident investors proposed to replace Chief Executive and Chairman Philip Purcell .
Stocks appear ready to slip Monday on another record high for oil prices.
Don't drink the spiked egg nog just yet.
We Said
ON A TUESDAY AFTERNOON IN LATE OCTOBER, Phil Purcell is in his office standing behind a four-foot-tall desk--an odd-looking piece of furniture installed to relieve his chronically aching back. The ...
Oil prices dropped Tuesday, marking the second straight day of declines and raising some hopes that crude may have reached a top after the recent climb to record levels.
Oil shock. Recession. A market crash to rival Black Monday. That's what Morgan Stanley chief economist Stephen Roach fears could be on the way. And to think, this guy works for a company in the bus...
Morgan Stanley is the first to slip.
Investment bank Morgan Stanley announced it agreed to pay $19 million to the New York Stock Exchange as it seeks to settle a probe of a wide variety of operational and supervisory problems of one of Wall Street's major firms.
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