News for Morgan Stanley
Jan 20 · 3:45:00 PM
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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by Larry Etter
Mar 23 · 10:52:00 AM · Source: Company Press Release
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.
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by Larry Etter
Feb 23 · 10:50:00 AM · Source: Company Press Release
Morgan Stanley announced the appointment of two industry veterans to expand the leadership team within its Investment Management business. Jeffrey L. Shames, the former Chairman and CEO of MFS Investment Management, will join the Firm as a Senior Advisor to Morgan Stanley Investment Management (MSIM). Edmond N. Moriarty III, previously a Senior Vice President at Merrill Lynch & Co., will join the Firm as Chief Operating Officer of MSIM. In addition to their new responsibilities in Investment Management, Mr. Shames and Mr. Moriarty will also act as Senior Advisor and Chief Operating Officer, respectively, of Morgan Stanley's Global Research division.
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by Larry Etter
Feb 11 · 10:16:00 AM · Source: Company Press Release
Morgan Stanley announced today that its dedicated infrastructure group, Morgan Stanley Infrastructure Partners, will acquire a 40 percent economic stake and a 50 percent voting stake in Southern Star Central Corp., parent company of Southern Star Central Gas Pipeline (Southern Star), an interstate natural gas pipeline and storage operation servicing the Midwest region of the U.S.
The company believes Southern Star offers a unique opportunity for Morgan Stanley Infrastructure Partners to invest in a proven and stable energy asset.
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by Larry Etter
Jan 1 · 3:26:00 PM · Source: Business Week
Morgan Stanley was accused in a lawsuit, filed by the public employees' retirement system of the Virgin Islands, of defrauding investors in a collateralized debt obligation, called the Libertas CDO, by collaborating with ratings companies to place triple-A ratings on the notes.
Morgan Stanley, the sixth-biggest U.S. lender by assets, arranged the offering as it was short-selling almost the entire $1.2 billion worth of assets in the CDO, according to a complaint filed today in federal court in New York. Morgan Stanley was betting the entire investment it was promoting would fail, the public employees' retirement system of the Virgin Islands said in the complaint. The firm achieved its objective.
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by Michael Oliveto
Jan 1 · 3:18:00 PM · Source: CBS News
Morgan Stanley plans to change how top executives are paid, with more compensation possibly deferred and tied to stock benchmarks.
The investment bank is the latest Wall Street firm to bow to increasing pressure from shareholders and Washington to scale back lavish compensation packages as the country digs out of a prolonged recession; one for which the financial industry shoulders much of the blame. Earlier this month, Goldman Sachs announced its top 30 executives would not get cash bonuses this year and instead receive deferred stock compensation.
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by Michael Oliveto
Oct 21 · 9:56:00 AM · Source: New York Times
Morgan Stanley announced on Wednesday that it had returned to profitability in the third quarter after three successive quarterly losses. The bank said it earned $498 million or 38 cents a share, compared with $7.7 billion, or $7.38 a share, in the quarter a year ago when results were helped by a one-time gain.
Earnings from continuing operations were $757 million in the third quarter, after a loss of $159 million in the second quarter. The results beat expectations. Analysts had expected earnings 29 cents a share on revenues of about $6.99 billion
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by Larry Etter
Oct 21 · 9:55:00 AM · Source: New York Times
Morgan Stanley announced on Wednesday that it had returned to profitability in the third quarter after three successive quarterly losses. The bank said it earned $498 million or 38 cents a share, compared with $7.7 billion, or $7.38 a share, in the quarter a year ago when results were helped by a one-time gain.
Earnings from continuing operations were $757 million in the third quarter, after a loss of $159 million in the second quarter. The results beat expectations. Analysts had expected earnings 29 cents a share on revenues of about $6.99 billion
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by Larry Etter
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