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BRIEFLY

Securities

November 17, 1994|From Times Staff and Wire Reports

Morgan Stanley 3rd-Quarter Profit Drops 35%: The parent of Morgan Stanley & Co., the fourth-largest securities firm, reported it earned $118 million, or $1.30 per share, in the three months ended Oct. 31. That was down from $182 million, or $2.20 per share, in last year's third quarter. Revenue fell 12%, to $910 million from $1.03 billion. Morgan Stanley Group Inc. shares closed down $1 at $61.875 on the NYSE. Morgan Stanley was hurt by lower revenue from underwriting stocks and bonds for companies and reduced trading volume by investors in the bond market.

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