Morgan Stanley Trades Higher After Earnings Beat Expectations

Morgan Stanley Trades Higher After Earnings Beat Expectations

  • Posted Thursday, April 21, 2011 -
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Morgan Stanley is trading nearly 4% higher in pre-market after its earnings beat expectations.

The company reported core earnings per share of 46 cents, which easily bested consensus estimates of 34 cents a share. Investors are overlooking a revenue short-fall and a sizable trading loss from its Japanese joint venture.

During the height of the financial crisis, Morgan Stanley benefited from a timely investment from Mitsubishi UFJ. But the venture that formed after that deal reported an after-tax loss of $425 million, which was slightly higher than expected. The loss was offset by a tax-related gain.

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