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Morgan Stanley's third-quarter profit plummeted 67% to $313 million on better-than-expected revenue of $6.8 billion. Revenue from the company's trading business fell to $1.4 billion, a 57% drop from the second quarter and a 58% drop from a year earlier.

Morgan Stanley reports a fourth-quarter net profit of $617 million on revenue of $6.8 billion, a 19% drop from the third quarter. Morgan Stanley posted a per-share loss of one dollar for full-year 2009.

Benefiting from the disappearance or weakness of rival investment firms, Goldman Sachs Group Inc.'s second quarter net income soared to $3.44 billion, more than the firm's full-year earnings in 2008. Net revenue rose 46% to $13.76 billion. At the end of the quarter, Goldman's leverage ratio stood at 14.2, a drop from 27.9 at the beginning of 2008.

Byline: AARON LUCCHETTI FINANCIAL SERVICES 'Prudent' Morgan takes bottom-line hit WALL STREET JOURNAL STAFF *** Morgan Stanley recorded its second straight quarterly loss as improvements in its trading and brokerage [...]

Byline: AARON LUCCHETTI FINANCIAL SERVICES Morgan Stanley to book big loss on rebound in bond prices Morgan Stanley isn't in crisis mode any more, which has soothed the Wall Street [...]

Byline: SUSANNE CRAIG AND AARON LUCCHETTI; WALL STREET JOURNAL STAFF Merrill Lynch & Co. and Morgan Stanley, responding to evaporating profits and public ire over Wall Street's culpability for the [...]

Byline: AARON LUCCHETTI AND JESSICA PAPINI; WALL STREET JOURNAL STAFF Morgan Stanley said it plans to lay off about 2,500 employees and hired two new commercial bank executives as it [...]

Mitsubishi UFJ Financial Group Inc. acquired a 21% stake in Morgan Stanley, injecting $9 billion of much-needed capital into the company, and causing its shares to soar 87% on Monday. As part of a new growth and reorganization strategy, Morgan Stanley plans to veer away from high-risk investments and into low-risk stock trading, and asset-management services. The firm also plans to expand its deposit base and triple the assets of its banking unit to about $135 billion. Article discusses Morgan Stanley's expected per-share earnings, and possible layoffs.

Byline: AARON LUCCHETTI, MATTHEW KARNITSCHNIG AND JON HILSENRATH Morgan Stanley and Mitsubishi UFJ Financial Group Inc. continued to negotiate their $9-billion (U.S.) pact yesterday, as both sides pushed to keep [...]

Byline: AARON LUCCHETTI John Mack made his name at Morgan Stanley as a hard-charging bond salesman and aggressive deal maker. Now those skills are being put to the ultimate test [...]

The latest in a series of Japanese banks' investments in the troubled U.S. banking system, Mitsubishi UFJ Financial Group Inc. (MUFG) announces it will acquire a 21% stake in Morgan Stanley for $9 billion. MUFG, with $1.1 trillion in deposits, seeks growth opportunities outside its home market of Japan.

Breathing new life into an ailing banking system, entrepreneur Warren Buffett's company -Berkshire Hathaway Inc.- announces it will invest $5 billion in bank-holding Goldman Sachs Group Inc. Under terms of the agreement, Berkshire will spend $5 billion on Goldman's preferred shares which pay a 10% dividend but are not convertible into equity. Berkshire will be allowed to buy $5 billion of Goldman common stock at a price of $115 per stock which could eventually lead to Berkshire's ownership of 10% of Goldman. Goldman also commits to raise at least $2.5 billion through a public common stock sale and retains the right to buy back at any time the preferred stocks acquired by Berkshire.

Byline: AARON LUCCHETTI; Dan Fitzpatrick and Deborah Solomon contributed to this article. Morgan Stanley was deep in discussions on Sunday about merging with regional banking giant Wachovia Corp., a deal [...]

Prompted by a precipitous 21% drop in stock value, $6.95, to $21.75 on Wednesday, investment bank Morgan Stanley has initiated preliminary merger negotiations with Wachovia Corp. Morgan Stanley is also exploring deals with foreign financial institutions such as HSBC Holdings PLC and Spain's Banco Santander S.A. Other investment banks have sought to shore up their finances by linking themselves to more-stable retail banks. Article discusses Wachovia's financial standing, and possible investor opposition to a large acquisition in an unstable market.

Byline: AARON LUCCHETTI First came the bankers who created funky mortgage investment vehicles. Now come the lawyers. A recent filing in New York state court provides a window into the [...]

Citigroup Inc., Goldman Sachs and Co., Miller Tabak Roberts Securities LLC and Deutsche Bank AG will pay $20 million in settlement of overcharging allegations over corpor ate bond pricing.

Several Wall Street banks are vying to be the underwriter for NYSE Group Inc.'s stock offering following the merger of the New York Stock Exchange with Archipelago Holdings Inc.

According to James Gorman, the chief executive officer of Morgan Stanley, the company will pursue the acquisition of the balance of the joint venture it holds in Smith Barney Inc. with Citigroup Inc. Morgan Stanley has an option to purchase another 14% of Smith Barney in May of 2012.

Morgan Stanley has a deal to acquire the 49% of Smith Barney Inc. that it doesn't own by 2014. It is considering holding off on the deal for a while in order to have cash to meet capital requirements. The deal calls for Morgan Stanley to increase its holding to 100% by the process of three installments which will start in 2012.

Howard Hubler, once a mortgage trader with Morgan Stanley, was blamed for a $9 billion trading loss tied to subprime mortgages that almost capsized the company prior to the financial crisis. Hubler started up Loan Value Group LLC, a company that works with lenders and homeowners whose housed are worth less than they are paying for them.