Reginal Thomas
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Morgan Stanley Beat Expectations

Morgan Stanley beat expectations in their quarterly profit report today. Stock trading revenue went up 31%, that's a strong outcome during a quarter when most banks posted smaller gains or losses. The rise in stock trading helped soften the blows the bank took from a decline in fixed income, currency, and commodity trading, where revenue sunk 44%. Equity trading has been another bright spot for the bank, they invested heavily in it hiring great sales staff. The second largest U.S. investment bank had a net income of $888 million, compared to a $1 billion lost last year at the same time.