Morgan Stanley stock nears 7-mo. high as profit drop not as sharp as expected
Shares of Morgan Stanley MS, +2.04% jumped 2.3% in premarket trade Wednesday, putting them on track to open at the highest level since September 2018, after the broker reported first-quarter profit and revenue that fell less than expected, helped by growth in net interest income . Net income declined to $2.34 billion, or $1.39 a share, from $2.58 billion, or $1.45 a share, in the year-ago period. The FactSet EPS consensus was $1.17. Total revenue fell 7% to $10.
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