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Showing posts with the label .DealBook Today's Top Headlines July 18

DealBook Today's Top Headlines July 18, 2013: Morgan Stanley Profit Rises 42% | Support Weakens for Dell Founder's Offer | JPMorgan Seeks to Settle Energy .

Thursday, July 18, 2013 TODAY'S TOP HEADLINES BY WILLIAM ALDEN MORGAN STANLEY PROFIT RISES 42% Morgan Stanley on Thursday reported adjusted second-quarter earnings that narrowly beat analysts' estimates, driven by strength in its wealth management unit and equity sales and trading. Including charges, the firm had a profit of $802 million, or 41 cents a share, compared with $564 million, or 29 cents a share, in the period a year earlier. But the results were affected by two big charges, one related to credit spreads and the other to Morgan Stanley's recent purchase of the remaining stake of its wealth management business. Excluding those charges, the profit was 45 cents a share, or $872 million . That beat the estimates of analysts polled by Thomson Reuters of 43 cents a share. A conference call to discuss the results is being held at 10 a.m. SUPPORT WEAKENS FOR DELL FOUNDER'S OFFER A special committee of Dell's directors is likely