| Financials |
Morgan Stanley Earnings Up on Record Brokerage Fee
Morgan Stanley said its fourth-quarter earnings rose 35 percent on record revenue from its brokerage, the world’s biggest. Net income rose to $836 million, or 41 cents a share, from $617 million, or 29 cents, a year earlier. Earnings from continuing operations, excluding a 17-cent gain on the sale of a stake in China International Capital Corp. and a tax gain of about 6 cents, were 20 cents a share.
The revenues and retail brokerage profits were higher than expected, validating the bank's strategy of bolstering businesses that are less threatened by tougher regulation after the financial crisis.
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Morgan Stanley (MS)
Morgan Stanley said its fourth-quarter earnings rose 35 percent on record revenue from its brokerage, the world’s biggest. Net income rose to $836 million, or 41 cents a share, from $617 million, or 29 cents, a year earlier. Earnings from continuing operations, excluding a 17-cent gain on the sale of a stake in China International Capital Corp. and a tax gain of about 6 cents, were 20 cents a share.
The revenues and retail brokerage profits were higher than expected, validating the bank's strategy of bolstering businesses that are less threatened by tougher regulation after the financial crisis.
Jan 20 · 3:45:00 PM
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by Larry Etter
E*TRADE Financial (ETFC)
E*TRADE FINANCIAL Corporation announced its board has appointed Steven Freiberg CEO, effective April 1, 2010. Mr. Freiberg, an experienced financial services executive, has held multiple senior level positions over a distinguished 30-year career at Citigroup. Mr. Freiberg, who also will join the Company's Board of Directors, succeeds interim CEO Robert Druskin. Mr. Druskin will remain on the Board, continuing in his role as Chairman.
Mar 23 · 10:58:00 AM · Source: Company Press Release
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by Larry Etter
AFLAC (AFL)
Aflac said it is enhancing its life insurance policies to provide policyholders with extra benefits and the ability to take their policies with them if they change jobs.
Mar 23 · 10:56:00 AM · Source: Company Press Release
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by Larry Etter
Morgan Stanley (MS)
Morgan Stanley Investment Management (MSIM) said that Morgan Stanley Alternative Investment Partners (AIP) raised $370 million in commitments for Morgan Stanley AIP Phoenix Global Real Estate Secondaries 2009 LP (Phoenix), a fund dedicated to acquiring secondary interests in opportunistic and value-added private equity real estate funds. The capital raised exceeded AIP's initial $250 million target.
Mar 23 · 10:52:00 AM · Source: Company Press Release
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by Larry Etter
J.P. Morgan (JPM)
Chase announced today that it will provide additional help to struggling homeowners by joining the second-lien program of the federal government's Home Affordable Modification Program. The Second-Lien Modification Program, known as 2MP, is designed to work in tandem with HAMP to lower homeowners' payments on both their first and second mortgages.
Mar 23 · 10:48:00 AM · Source: Company Press Release
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by Larry Etter
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