Today news
About the same in other media
Morgan Stanley profit drops 18% as deal doldrums persist
Reading now: 766
investing.com(Reuters) -Morgan Stanley's profit slipped 18% in the second quarter as Wall Street's deal-making drought stunted revenue from investment banking.
Profit applicable to common shareholders fell to $2.05 billion, or $1.24 per diluted share, for the three months ended June 30, the bank said on Tuesday. That is down from $2.39 billion, or $1.39 per diluted share, a year earlier.
Revenue from investment banking stood at $1.16 billion, in line with last year.
Global M&A activity fell 36% in the second quarter versus a year earlier, according to Dealogic. Still, its climb from the first quarter has sparked hopes of a nascent recovery.
Shares of the investment bank were up 1.4% in premarket trading.
Read more on investing.comAbout this in other media
India upgraded to No.1 slot in Morgan Stanley's emerging markets list economictimes.indiatimes.com /1 year ago
CPI may hit 6.2% by end of Q2, says Morgan Stanley livemint.com /1 year ago
Food inflation to drive up India's CPI to 6.2% in Sep quarter: Morgan Stanley livemint.com /1 year ago
Show more
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
