Morgan Stanley

Morgan Stanley Surprised Investors With Stock Buyback, Strong Earnings

Morgan Stanley (NYSE:MS)'s second-quarter net income rose 66%, beating analyst estimates, as the investment bank bounced back from a slump in trading revenue a year earlier.

Revenues rose 22% to $8.5bn in the three months to July. Adjusted earnings per share, which strip out the effect of an acquisition and an accounting quirk, were 45 cents . . .

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