Earnings roundup: Morgan Stanley, Philip Morris

Earnings roundup: Morgan Stanley's 3Q net income rises; Philip Morris says 3Q net income falls

Associated Press

Among the earnings stories for Thursday, Oct. 18, from AP Business News:

— Morgan Stanley reported higher revenue and net income for its third quarter thanks to gains in its bonds and asset management businesses.

— Cigarette maker Philip Morris International Inc.'s third-quarter net income fell more than 6 percent, despite higher prices, as the company sold fewer cigarettes.

— Drug and medical device maker Baxter International Inc. reported third-quarter results that edged 1 percent higher as the company trimmed expenses, meeting Wall Street expectations.

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