Morgan Stanley's profits fall

Wall Street bank Morgan Stanley posted third-quarter net income of $939 million, a 42.4 percent decrease from $1.6 bilion a year earlier.

Diluted share earnings for the three-month period were 48 cents, down from 83 cents per share in the same quarter of 2014.

Analysts had expected 62-cent earnings for the quarter.

Consolidated net revenue fell 12.8 percent to $7.8 billion, missing the average analysts' estimate of $8.5 billion.

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