Wednesday, April 22, 2009

What Goes Up......

Morgan Stanley's earnings were a bit of a disappointment to the market. Part of the issue was that they had to take a hit to their revenue because their credit spreads improved. Yep, the reverse is true too. John Mack made specific mention of that fact; Morgan Stanley would have made a profit otherwise. Funny, they never mention it when it works in their favor.

MS is down about $2.00 in the pre market session and S & P futures are down abut 1%.

No comments: