Analysts lower earnings estimate of Morgan Stanley
Morgan Stanley (NYSE:MS) has had its earnings expectations lowered by a number of analysts as slowing trading in the first quarter is expected to put downward pressure on its earnings.
Analysts' estimates were lowered to 67 cents a share, a 13 percent decline from earlier in the year.
The reason given for missing by so much was it was assumed trading would be much better than it actually was, and the declines in trade will have an adverse effect on Morgan Stanley and all other trading units of large financial institutions.
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