Jim Cramer Blog

Morgan Stanley, the No. 2 U.S. investment bank, on Wednesday reported fees from advising clients on acquisitions and stock trading lifted second-quarter profit 39 percent from the year-ago period.

For the three months ended May 31, profit after paying preferred dividends rose to $2.57 billion, or $2.45 per share, from $1.84 billion, or $1.75 per share a year earlier.
The record run on stocks this year, and frenzied pace of corporate takeovers, helped lift revenue 32 percent to a record $11.5 billion. Return on equity, a gauge of how effectively the firm reinvests earnings, rose to 27.5 percent from 23.7 percent a year earlier.