Morgan Stanley reported adjusted earnings for the fourth quarter on Friday that beat analyst estimates, driven by gains in wealth management and stock trading.
Including charges, the firm had a fourth-quarter profit of $481 million, or 25 cents a share. That compares with a per-share loss of 15 cents in the year-ago period. The results seem to please investors. Morgan Stanley shares are up 6.4 percent in premarket trading.
Morgan Stanley posts $481 million profit
Source: The New York Times