Fitch ‘Warning’ Hits Morgan Stanley Far Worse Than Peers (MS)
Morgan Stanley (NYSE: MS) reacted to today’s Fitch ‘warning’ about Eurozone contagion spreading to U.S. banks the worst of all of the “too big to fail” financial institutions today. What is odd is that the outlook was not really changed,…
Morgan Stanley (NYSE: MS) reacted to today’s Fitch ‘warning’ about Eurozone contagion spreading to U.S. banks the worst of all of the “too big to fail” financial institutions today. What is odd is that the outlook was not really changed, but it was “a warning of a warning” per our coverage. Morgan Stanley closed down 7.9% at $14.66 on more than 48 million shares today.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
