Matching Goldman Sachs (GS) yesterday, Morgan Stanley (MS) posted a loss of $2.2 billion in its fourth quarter or $2.24 per share. The loss came in way wide of consensus estimates, though predictions were all over the map. No Wall Street Journal leak for this one. Net revenue of $1.8 billion was well short of the $3.8 billion consensus.
The stock is already off over 6% pre-market, and it could exacerbate a day that’s already looking down.
Like Goldman, Morgan Stanley is whacking its compensation levels in half. It also notes that it’s reduced its leverage ratio to 11.4x down from a whopping 32.6x at the end of last year.
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