Morgan Stanley Shares Rally as Firm Returns to Profitability

Morgan Stanley climbed the most since July on the New York Stock Exchange after an increase in risk-taking boosted trading revenue and contributed to the bank’s first profit in a year.

Third-quarter earnings were $757 million, or 38 cents a share, compared with $7.7 billion, or $6.97, a year earlier, the New York-based company said today in a statement. The average estimate of 21 analysts surveyed by Bloomberg was for earnings per share of 30 cents. The stock gained $2.10, or 6.5 percent, to $32.62.

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- Posted: 2009-10-21 13:23:31

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