This morning, Morgan Stanley (NYSE:MS) reported fourth quarter earnings of $433 million, or 20 cents per share, as revenue climbed to $8.2 billion. Excluding one-time items, the investment bank would have earned 50 cents per share, handily topping the consensus estimates. In the report, Morgan Stanley noted that it took a $1.2 billion charge for legal expenses related to mortgage backed securities lawsuits. Shares of Morgan Stanley were higher on Friday morning, climbing 2.2% following the report.
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