Morgan Stanley reported higher-than-expected second-quarter profit on Wednesday despite weak industry trends.The New York bank said adjusted earnings were $1.4 billion, or 80 cents a share, compared with a loss of $138 million, or $1.36 a share, a year earlier.Analysts on average expected earnings of 46 cents a share, according to Thomson Reuters I/B/E/S.Rivals banks have reported softer trading and investment banking results in the second quarter.The quarter was an early test for Morgan Stanley's revamped trading desks, which were bolstered with hundreds of hirings during the past year.Morgan Stanley shares were up 2.7 percent to $25.90 in premarket trading.(Reporting by Steve Eder; editing by John Wallace)News posted by www.newsinfoline.com
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