Morgan Stanley tops views
The N.Y.-based bank's EPS rose 30% to 65 cents, beating views by 11 cents. Revenue rose 7.3% to $8.7 bil, above forecasts for $8.17 bil. Morgan Stanley's (MS) wealth management net revenue grew 8.7% to $3.8 bil. Total client assets were above $2 tril by Sept. 30, up 11%. Institutional securities net revenue jumped 22% to $4.52 bil. Equity sales and trading net revenue climbed 5.9% to $1.8 bil. The bank was among several that worked on Alibaba's (BABA) historic $25 bil IPO. Morgan Stanley shares rose 2.1% to 33.22.
