Morgan Stanley Profit Dips, But Easily Beats Forecasts

Morgan Stanley reported a 3% percent drop in third-quarter earnings but easily beat Wall Street expectations, Bloomberg reports. The investment bank's profit fell to $1.43 billion, or $1.32 per share from $1.47 billion, or $1.38, a year ago. Analysts expected 78 cents a share. The relatively good news came at the end of another volatile day on Wall Street, and Morgan Stanley released the figures a day early to help calm investors. Rival Goldman Sachs reported a 70% drop in earnings this morning.
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