Morgan Stanley news stories on Newser

Facebook Backers Helped Short Sellers

Rob Quinn — Fri, 25 May 2012 06:25:38 CDT

Some traders at the underwriters of Facebook's bungled IPO were busy aiding short sellers who bet the stock would drop in the days after its debut, the Wall Street Journal finds. Insiders say traders at JPMorgan and Goldman Sachs were loaning out the shares hedge funds needed to bet against...

Facebook Investors Are 'Wall Street Suckers'

John Johnson — Thu, 24 May 2012 13:57:33 CDT

If you happen to be among those Facebook investors cursing the IPO's rough start, David Weidner at the Wall Street Journal has a little salt for your wound: You're probably an "old-fashioned Wall Street sucker," he writes. After all, the signs of "shifty business" were clearly evident before the big...

Underwriters Score $100M in Messy Facebook IPO

Mark Russell — Thu, 24 May 2012 07:33:23 CDT

New investors in Facebook may be steamed (and suing ) that their hot property has lost 16% of its value since the IPO Friday, but Facebook's underwriters are sitting pretty. Morgan Stanley and the other underwriters have made an estimated $100 million from stabilizing the buffeted stock, in addition to...

Shareholders Sue: Morgan Stanley, Zuckerberg, Facebook

Kate Schwartz — Wed, 23 May 2012 08:37:17 CDT

Good thing Mark Zuckerberg has that new bride to be excited about, because his new billions are only bringing him headaches. Shareholders today filed a suit against Zuckerberg, Facebook itself, and a number of Morgan Stanley-led banks, arguing that all three kept secret a "a severe and pronounced reduction" in...

Insiders Warned on Facebook IPO, Regulators Launch Investigation

Rob Quinn — Wed, 23 May 2012 07:10:10 CDT

Facebook's IPO is looking more disastrous by the day. Regulators are now probing reports that underwriter Morgan Stanley and other banks cut their revenue forecasts for the company just days before the IPO—but only advised major clients of the change. Insiders believe the revised forecast, which smaller investors were...

Behind Facebook's Flop: Morgan Stanley Cut Forecast

Kevin Spak — Tue, 22 May 2012 07:48:15 CDT

Why did Facebook get off to such a rocky start on Wall Street? Well, it might have something to do with Morgan Stanley's decision to slash its revenue forecast at the last minute, Reuters reports. "This was done during the roadshow," says one mutual fund source. "I've never seen that...

Facebook Stock Plummets

Kevin Spak — Mon, 21 May 2012 09:52:00 CDT

Facebook's underwriters pulled off the training wheels today, and the infant stock fell—hard. After a lackluster first day on the market, Facebook shares fell some 12% in the first minute of trading this morning, Reuters reports, dropping below the $38 IPO price to $33.67, where it continues to...

Moody's Slaps Wall Street's Big Banks With Review

Kevin Spak — Thu, 16 Feb 2012 08:31:44 CST

Moody's isn't feeling great about the health of the financial industry right now. The rating agency put a host of banks under review for possible downgrade today, including US giants Bank of America, Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley, the Wall Street Journal reports. It said the banks now...

Students Revolt Against Big Bank Recruiting

Matt Cantor — Mon, 06 Feb 2012 09:51:05 CST

Half of those surveyed in Harvard's class of 2010 went into finance or consulting; at the University of Pennsylvania, the figure was even higher—and some students are fed up with the "brain drain." Inspired in part by the Occupy movement, students have launched protests against recruiting by big banks,...