Morgan Stanley (NYSE: MS) Earnings: Did Investment Bank Beat Expectations In Fourth Quarter?

Category: Companies / Jan 17, 2014 10:20AM EDT

Morgan Stanley (NYSE: MS) on Friday reported a fiscal fourth-quarter profit of 50 cents per share, excluding items, beating estimates by five cents. Revenue topped Wall Street estimates as well, coming in at $7.83 billion for the last quarter.

Shares of Morgan Stanley rose 3.09 percent to $32.99 in morning trading.

General Electric Company (NYSE: GE) reported fiscal a fourth-quarter profit of 53 cents per share, excluding items, which matched Wall Street estimates. Revenue came in slightly above analysts’ expectations at $40.38 billion.

Shares of GE fell 2.35 percent $26.56 on Friday.

The Dow Jones industrial average rose 11.47 points or 0.07 percent, to 16,428.48. The S&P 500 fell 3.25 points or 0.18 percent, to 1,842.70. The Nasdaq Composite dropped 10.84 points or 0.26 percent, to 4,207.85.