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Morgan Stanley Reports $558 Million Loss In Second Quarter

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MORGAN STANLEY
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NEW YORK - Morgan Stanley is reporting a loss $558 million for the second quarter. The investment banks' earnings took a hit from converting an investment from a Japanese bank into common stock.

Mitsubishi UFJ Financial Group helped rescue Morgan Stanley during the 2008 financial crisis with an investment of $9 billion.

Morgan Stanley said Thursday it lost 38 cents a share. That was less than the 61-cent loss analysts were expecting. Revenue of $9.3 billion was also more than analysts expected, according to FactSet.

Morgan Stanley's stock rose 6 percent in pre-market trading.

Compensation expenses, including salaries and bonuses, rose 20 percent to $4.7 billion from $3.8 billion in the same quarter last year.

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