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AG Edwards Net Rises 50%
Profits at AG Edwards(AGE Quote) rose 50% in the first quarter, fueled by strong gains in commissions and asset management fees.
The strong earnings from the mid-market brokerage come a day after Wall Street titan Morgan Stanley(MS Quote) said its second-quarter profits more than doubled from last year.
In the quarter, St. Louis-based AG Edwards earned $77.6 million, or $1.01 a share, up from $51.8 million, or 67 cents a share. Net revenue rose 17% to $768 million. ...
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