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Morgan Stanley Fourth Quarter Earnings Call |
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Author: Rozalina Destanova
123jump.com
Last Update: 1:21 PM EST December 21 2007
The brokerage firm took an additional $5.7 billion mortgage-related writedown, while announced a $5 billion cash injection from a Chinese state-run investment fund. The return on average common equity from continuing operations was 7.8% compared to 23.8% the prior year. Institutional Securities posted a pre-tax loss of $6,479 million, reflecting the mortgage related writedowns. Global Wealth revenues of $6.6 billion were up 20% from 2006 driven by stronger transactional revenues. |
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