|Morgan Stanley CEO James Gorman|
Analysts are looking for Morgan Stanley to earn 46 cents per share on revenue of $7.92 billion in the June period. In the year-ago equivalent quarter, the firm reported a wider than expected loss of $1.10 a share on revenue of $5.41 billion, but it blew past Wall Street expectations in the first quarter with earnings of $1.03 a share on revenue of $9.1 billion. Sandler O'Neill analyst Jeff Harte expects the company's institutional securities business, which includes fixed income trading, to account for $4.6 billion of the $8.1 billion in revenues he has projected for Morgan Stanley. Harte predicts most of the remainder--some $3.1 billion--will come from the global wealth management unit. Morgan Stanley shares were up 1.4% to $25.12 in late trades. Year-to-date, the stock is down about 16%, but it has gained back some ground since sinking to a 52-week low of $22.40 on July 1. -- Written by Dan Freed in New York.