dollar’s performance against 16 rival currencies, hit a 1-month low after declining 1.26 percent. “While we think earnings will live up to expectations, the markets may focus rather on the first hundred days of the new presidency, which could lead to volatility ahead,” wrote Peter Cardillo, chief market economist at First Standard Financial. Morgan Stanley (NYSE: MS ) Get Your Up-To-Date Morgan Stanley Research Report Click Here Morgan Stanley’s shares dropped 3.79 percent to close at $42.15 a share Tuesday. read this articleThe stock traded between $41.77 and $43.84 on volume of 21.84 million shares traded. Propelled by growth in trading revenue and resilient performance of its wealth management business, the company reported a profit of $1.67 billion, or $0.81 a share, for the fourth quarter of 2016, compared to $908 million, or $0.39 a share, in the fourth quarter of 2015. Revenues totaled $9.02 billion for the fourth quarter of 2016, an increase of 17 percent when compared to a year ago. Analysts had expected earnings of $0.65 a share on revenues of $8.47 billion, according to analysts surveyed by Thomson Reuters. With this result, annualized return on equity is 8.7 percent for 2016, the company targets 9 to 11 percent return on equity for 2017. James P. Gorman, Chairman and Chief Executive Officer, said, “Our quarterly results reflect consistent strong performance, while our annual results show meaningful earnings growth over 2015. We reported solid results in Sales & Trading and Advisory, and record revenues in Wealth Management, while managing expenses prudently.
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