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Stock Alert: Shares Of Morgan Stanley (MS) Hit 52-Week High

Shares of financial products and services provider Morgan Stanley (MS) recorded a new 52-week high of $57.36 on January 16, following the announcement of its upbeat Q4 results. The stock closed Thursday's trading session at $56.44, up $3.50 or 6.61%.

On January 16, the company reported fourth-quarter net income of $2.09 billion or $1.30 per share versus $1.36 billion or $0.80 per share in the year-ago quarter.

The latest quarter's results include an intermittent net discrete tax benefit of $158 million or $0.10 per share, while the year-ago quarter's results included an intermittent net discrete tax benefit of $111 million or $0.07 per share and severance costs of $172 million associated with a December employee action.

Excluding items, adjusted earnings for the quarter were $1.20 per share, compared to $0.73 per share in the year-ago quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.99 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues grew 27% to $10.86 billion from $8.55 billion last year. The Street was looking for revenues of $9.72 billion for the quarter.

The company's board declared a $0.35 quarterly dividend per share, payable on February 14, 2020 to common shareholders of record on January 31, 2020.

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