Jim Cramer Says Morgan Stanley Results 'Much Worse' Than Expected

Morgan Stanley’s (MS) earnings disappointed Jim Cramer, as they were ‘much worse’ than he expected. Cramer shared his views on Morgan Stanley while answering viewers’ social media questions from the floor of the New York Stock Exchange on Monday. Cramer holds Morgan Stanley in the Action Alerts PLUS portfolio, and had downgraded the stock ahead of its quarterly results. ‘Sometimes you feel good you cut back a name, but you wish you had sold it all,’ said Cramer, who also ranked Morgan Stanley’s results against its peers. ‘It now comes in the bottom of the group. JP Morgan (JPM) was good, Wells Fargo (WFC) was okay, Bank of America (BAC) was terrific, Goldman (GS) was not so good, and this is bad.’ One viewer asked if the S&P was overvalued based on some negative earnings conference calls. Cramer responded the market is all about individual companies right now, and companies that sell domestically are doing quite well, and ones that sell into the emerging markets are doing badly. Jim Cramer answers viewers social media questions daily on TheStreet. You can contact him on Facebook, and on Twitter by sending questions to @JimCramer, using #CramerQ.