dinged Morgan Stanley ’s third-quarter results, sending profit down 29% from a year ago.
The bank said Friday it posted a profit of $2.63 billion, or $1.47 a share. Analysts had expected $1.52 a share, according to estimates compiled by FactSet . Revenue fell 12% to about $13 billion in the quarter, which also missed expectations of $13.3 billion.
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On the positive side, the way the world is headed there will be no 4th quarter earnings to report.
Is this a recession indicator litcapital ?