Advertisement
YOU ARE HERE: LAT HomeCollectionsMorgan Stanley
IN THE NEWS

Morgan Stanley

BUSINESS
March 26, 1999 | Times Wire Services
Morgan Stanley, Dean Witter & Co.'s earnings soared beyond analyst estimates in the latest quarter on strong trading activity, fees from mergers and acquisitions, and growth in its Discover credit card unit. The biggest U.S. securities firm said its net income jumped 50% to $1.04 billion from $691 million a year earlier, as per-share earnings grew 60% to $1.76 from $1.10, triple the growth rate expected by analysts in a First Call Corp. poll. Net revenue climbed 33% to $5.35 billion.
Advertisement
BUSINESS
March 22, 2007 | From Reuters
Morgan Stanley posted a 60% jump in quarterly earnings Wednesday, beating expectations with record results boosted by strong debt and equity trading. Its shares gained $5.22 to $81.33. "This was an astounding trading quarter. They must have been beautifully positioned for the sub-prime meltdown and long volatility when equity markets tumbled," said Sanford Bernstein analyst Brad Hintz.
BUSINESS
February 17, 2001 | Reuters
The Morgan Stanley Dean Witter & Co. executive whose invitation to former President Clinton to speak at a conference created a furor among some of the Wall Street firm's clients is quitting. Mike Rankowitz, who headed Morgan Stanley's junk bond business, denied that the firm was forcing him out. "I'm retiring; my decision has nothing to do with former President Clinton," he said.
BUSINESS
September 13, 2001 | Reuters
The New York offices of the federal agency suing Morgan Stanley Dean Witter & Co. in a sex discrimination case were destroyed in the attack on the World Trade Center, but one plaintiff's lawyer said the loss of case files is only a temporary setback. The Equal Employment Opportunity Commission, which Monday filed suit against Morgan Stanley for sex discrimination, is based in Washington but had offices at 7 World Trade Center. The 47-story building collapsed after the attack.
BUSINESS
June 25, 2005 | From Reuters
Morgan Stanley is in talks with former President John Mack about his possible return to the investment bank as chief executive, a source familiar with the situation said. Mack would replace Philip J. Purcell, who announced his resignation June 13 after a bitter public battle with dissident shareholders. Andrew Walton, a spokesman for Morgan Stanley, declined to comment. Becoming Morgan Stanley's CEO would be a homecoming for Mack, who in 2001 was ousted by Purcell as the brokerage's No. 2.
BUSINESS
August 30, 1991 | Associated Press
Morgan Stanley & Co. settled a controversial Securities and Exchange Commission action Thursday that charged it with selling stock it allegedly wasn't entitled to trade after the 1987 stock market crash. Last March, the SEC claimed that Morgan Stanley improperly sold more than 2.4 million restricted shares of KaiserTech Ltd. to satisfy margin deficiencies in an account of former KaiserTech Chairman Alan E. Clore. Morgan Stanley neither admitted nor denied wrongdoing in the settlement.
BUSINESS
September 23, 2004 | From Bloomberg News
Morgan Stanley said Wednesday that its fiscal third-quarter profit tumbled 34%, falling short of estimates, as bond trading plunged. Shares of Morgan Stanley fell the most in two years, dragging down shares of other securities firms. Net income in the three months ended Aug. 31 declined to $837 million, or 76 cents a share, from $1.27 billion, or $1.15, a year earlier, the New York-based company said.
BUSINESS
January 20, 2007 | From Bloomberg News
Morgan Stanley agreed to buy CNL Hotels & Resorts Inc. for $6.6 billion, including debt, adding to its holdings eight luxury U.S. resorts including La Quinta Resort & Club and PGA West in La Quinta, Calif. CNL, based in Orlando, Fla., also will sell its remaining 51 properties to Ashford Hospitality Trust Inc. for $2.4 billion, the companies said in a statement. That sum is included in Morgan Stanley's purchase price.
BUSINESS
March 19, 2004 | From Bloomberg News
Morgan Stanley, the second-largest U.S. securities firm, and Los Angeles billionaire Haim Saban settled a dispute over fees related to the $5.2-billion sale of Fox Family cable television network to Walt Disney Co. Terms of the settlement were not disclosed. Morgan Stanley claimed in a 2002 suit that Saban owed it $12 million in fees. Saban hired Morgan Stanley in October 2000 to advise him in the sale of his 49.5% stake in News Corp.'s Fox Family cable television network.
BUSINESS
July 15, 1999 | From Bloomberg News
Morgan Stanley Dean Witter & Co. won't face criminal charges for paying an informant whose tip led to the arrest of Christian Curry, a black former analyst who sued the firm for racial bias. In a statement released Wednesday, Manhattan Dist. Atty. Robert Morgenthau said officials at Morgan Stanley "exercised poor judgment" in their dealings with the informant, Charles Joseph Leuthke, and with prosecutors, but "no criminal laws were violated."
Los Angeles Times Articles
|