Morgan Stanley Shares Up On Improved Q1 Results Above View

(RTTNews) - Shares of Morgan Stanley (MS) were rising more than 4 percent Tuesday early morning to $90.67, after reporting upbeat quarterly results, above View.

Net income for the first quarter increased to $3.27 billion or $2.02 per share from $2.84 billion or $1.70 per share in the year-ago quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $1.66 per share for the quarter.

Revenues for the quarter increased 4 percent to $15.14 billion from $12.99 billion last year. The consensus estimate was for $14.41 billion.

Morgan Stanley shares had closed at $86.99, up 0.93 percent. The stock has traded in the range of $69.42 - $95.57 in the last 1 year.