U.S. Stocks Slip on Failed Doha Talks; Morgan Stanley’s Profit Beats Estimates

U.S. stocks dropped on Monday, as oil prices fell following Sunday's failed oil talks in Doha. The world's biggest producers failed to agree to a production freeze. Saudi Arabia was unwilling to cap production unless Iran agreed to such a freeze. Iran is committed to regaining its market share following years of sanctions. Meanwhile, Morgan Stanley (MS) - Get Report posted first quarter net income of $0.55, beating estimates of $0.46. Revenue of $7.8 billion came in just below estimates. During the quarter, trading revenue fell 34 percent. Hasbro (HAS) - Get Report reported earnings per share of $0.38, beating estimates of $0.24. Sales in its girls segment rose 41 percent during the quarter thanks to merchandise from the 'Frozen' film. The toymaker's sales were also lifted from Star Wars products. TheStreet's Scott Gamm reports from Wall Street.