Morgan Stanley waltzes past Wall Street’s estimates for Q3 earnings

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NEW YORK: Morgan Stanley eased past Wall Street estimates for profit, wrapping up mixed third-quarter earnings for big US banks that saw those focused...

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In contrast, banks with retail focus like Citigroup and Bank of America struggled due to historically low interest rates, provisions to cover bad loans and lower consumer spending. While Morgan Stanley's trading unit did not hit the record highs of the previous quarter, the latest performance was still good enough to help the bank handily beat expectations.

 

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