The Latest On Firms' Q1 Earnings
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And Morgan Stanley posted its third quarterly loss in six Tuesday. The firm's first-quarter loss came in at $177m, as real estate investment losses and debt charges wiped away gains in trading and M&A. Morgan Stanley said that it adopted a low risk profile in the period.
Bank of New York Mellon released its first-quarter earnings Monday. Profits were down over 50% to $322m.
BlackRock's first-quarter profit fell 65% to $84m on falling revenues and restructuring charges.
Jefferies & Co, however, reported a rise in its first-quarter profits to $38.3m, after record fixed income and commodities revenues.
And Northern Trust reported a 60% decline in its first-quarter numbers, with net income coming in at $161.8m on falling revenues.
UK fund manager Schroders posted a 71% fall in its first-quarter pretax profit Thursday to $17.7m.
Finally, State Street reported a 10% drop in first-quarter earnings, with net profit down to $476m. The results were, however, better than analyst expectations.
Sources - Bloomberg, Reuters, The Wall Street Journal
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