Morgan Stanley profits soar past Wall Street's forecasts — as stock trading trounces predictions

Morgan Stanley on Wednesday reported outsize third-quarter earnings that blew past Wall Street’s forecasts — as revenue from its stock trading desk surpassed even the eye-popping results from its archrivals at Goldman Sachs.Equities trading revenue jumped 35% to $4.12 billion – obliterating expectations of a 6.6% increase. The bank’s stock traders brought in $720 million more than analysts had expected, just after recording their best second quarter ever.That beat $3.74 billion from Goldman Sachs, which has ...