Uploaded by FinancialNewsOnline on Dec 14, 2011
This is what's in the news for Wednesday December 14th. The Wall Street Journal reports Morgan Stanley (NYSE:MS) was forced to return about $700M to investors in its flagship global real-estate fund and to cut fees to persuade them to stay with the firm after a lackluster performance by the fund group. Reuters reports China's Commerce Ministry said it would impose anti-subsidy and anti-dumping duties on imports of small U.S. automobiles. Reuters also reports United Maritime Group, owned by Greenstreet Equity Partners and Jefferies' (NYSE:JEF) private equity arm, is exploring a sale. Bloomberg reports Goldman Sachs (NYSE:GS) is sitting out China's busy IPO market. The bank has managed only one offering in China in three years. Firm executives say they want to avoid the risk of underwriting unproven companies and other factors. Instead, they’re taking Chinese firms public on overseas exchanges, where fees can be higher.
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Morgan Stanley (NYSE:MS) Returns $700 Million From Global Real Estate Fund
Uploaded by FinancialNewsOnline on Dec 14, 2011
The Wall Street Journal reports that Morgan Stanley (NYSE:MS) was forced to return about $700 million to investors in its flasgship global real-estate fund and to cut fees to persuade them to stay with the firm after a lackluster performance.
Morgan Stanley (NYSE:MS) has potential upside of 51.2% based on a current price of $15.17 and an average consensus analyst price target of $22.93.
Morgan Stanley should find initial resistance at its 50-day moving average (MA) of $15.72 and further resistance at its 200-day MA of $20.65.
Morgan Stanley (NYSE:MS) has potential upside of 51.2% based on a current price of $15.17 and an average consensus analyst price target of $22.93.
Morgan Stanley should find initial resistance at its 50-day moving average (MA) of $15.72 and further resistance at its 200-day MA of $20.65.
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