Morgan Stanley Shares Rise as Profit Beats Analyst Estimates
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Morgan Stanley climbed in New York trading as first-quarter results beat analysts’ estimates and stock- and bond-trading revenue rose more than at any other major U.S. bank.
Morgan Stanley advanced 41 cents, or 2.3 percent, to $18.07 at 4:15 p.m. in New York, the fourth-biggest increase on the 81-company Standard & Poor’s 500 Financials Index. Profit was 71 cents a share excluding accounting charges, topping the 44-cent average estimate of 17 analysts surveyed by Bloomberg.