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Morgan Stanley Posts Larger-than-Expected Q4 Loss

By DIANA GOLOBAY

Morgan Stanley (MS: 17.14 +3.88%) on Wednesday posted a substantial fourth-quarter loss of $2.19 billion, or $2.24 per share, driven by “unprecedented market turmoil” and mortgage-related write-downs. Fixed income sales and trading — which include its mortgage business — registered net losses of $1.2 billion. “The global capital markets - and the financial services industry — [...]

Full post as published by Housing Wire on December 18, 2008 (boomark / email).