●Morgan Stanley Swings to Loss Amid Mortgage-Related Woes ◎China Fund Makes $5 Billion Investment
December 19, 2007 11:36 a.m.
Morgan Stanley swung to a fourth-quarter loss as the company took $9.4 billion in mortgage-related write-downs and announced a $5 billion investment from China's sovereign wealth fund.
The second-largest brokerage firm by market value reported a net loss for the quarter ended Nov. 30 of $3.59 billion, or $3.61 a share, compared with a year-earlier net income of $1.54 billion, or $1.44 a share.
9-11月期で35億9000万ドルの赤字。
The $9.4 billion in write-downs compare with the $3.7 billion the company announced last month. At that time, Morgan Stanley said the write-downs could increase if the market continued to worsen. The total includes $7.8 billion in subprime-related write-downs.
The company reported negative revenue of $450 million as the write-downs subtracted from revenue. Year-earlier revenue was $7.85 billion.
The mean per-share loss estimate of analysts polled by Thomson Financial was 39 cents on positive revenue of $4.23 billion.
Mr. Mack said the he willforgo his 2007 bonus, sayingaccountability rests with him.