Morgan Stanley Earnings Beat Expectations. Why the Stock Is Down.

Text size Morgan Stanley is the last of the big U.S. banks to report its results this week. Stephen Chernin/Getty Images Morgan Stanley ‘s recent purchases of Eaton Vance and E*Trade helped the bank to deliver higher earnings than expected for the second quarter. The investment bank (ticker: MS) earned $3.5 billion, or $1.85 a


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