Buzz In Business » banks http://buzzinbusiness.com Tue, 17 Aug 2010 21:19:13 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Morgan Stanley in loss http://buzzinbusiness.com/2009/07/morgan-stanley-in-loss/ http://buzzinbusiness.com/2009/07/morgan-stanley-in-loss/#comments Wed, 22 Jul 2009 14:12:26 +0000 admin http://buzzinbusiness.com/?p=28 morgan Huge losses were reported by Morgan Stanley for the period between April and June. It reported a loss of 159 million dollars while during the same time period last year it had made a profit of 698 million dollars.

This is shocking as even the analysts hadn’t expected such big loss. This is the third consecutive loss for the bank. A part of the loss was due to the fact that Morgan Stanley is paying back the government fund. These charges are around 1.3 billion dollars. Another reason why this is shocking is because most of other American banks have reported an increase in their profits. This piece of news had a negative affect on the market as shares of Bank of America, JP Morgan Chase and Morgan Stanley all declined after the results were announced by Morgan Stanley.

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