Morgan Stanley estimates the retail brokerage business it jointly owns with Citigroup Inc is worth less than half as much as Citigroup believes, Citi said in a regulatory filing on Thursday.
Morgan Stanley's brokerage affiliate, Morgan Stanley Smith Barney, has a "large number" of market orders and marketable limit orders that were entered Friday for the trading debut of Facebook Inc stock that have still not been reconciled, according to an adviser at the firm.
Morgan Stanley Smith Barney has increased the number of Facebook Inc IPO shares it will allow advisers to allocate to each client account.
David Darst of Morgan Stanley Smith Barney feels US markets could see a mini year-end Santa clause rally, the caveat of course being, nothing goes haywire in Europe.
For 2012, Morgan Stanley economists are looking at a recession in Europe with the US flirting with the issue.
David Darst of Morgan Stanley Smith Barney feels the Greek situation is beginning to slowly improve.
Inflationary pressures seem to be affecting the performance of almost all emerging markets. According to Morgan Stanley Smith Barney's David Darst, the second half of the year will be driven by inflationary concerns. While interest rate increases by many central banks has left investors not too confident."
The number of "breakaway brokers" moving to independent adviser firms fell last year after a record 2009, as the flood of brokers fleeing big Wall Street firms slowed.