摩根士丹利业绩低迷，计划年前裁员千人

    摩根士丹利（Morgan Stanley）现在又多了个理由，惟愿第二季度从来没有发生过。它是唯一一家报告盈利低于分析师预期的大型银行。

    摩根士丹利周四早上发布的财报显示，2012财年公司第二季度净利润为5.36亿美元，合每股0.28美元。该公司剔除经债务估值调整后所获得的会计利得（accounting gains）之后，每股收益为0.16美元。分析师此前预计该公司每股收益将达到0.40美元。经债务估值调整所对应的会计利得调整之后，其销售收入也低于预期，为66亿美元，比分析师的预期低了10亿美元左右。

    一年前，这家公司在2011财年第二季度亏损5.3亿美元。但那个季度的业绩结果中包括了一项一次性亏损17亿美元的费用，这项费用与日本三菱日联金融集团（Mitsubishi UFJ Financial Group）在该银行的一笔投资有关。

    周四美国股市开盘后不久，摩根士丹利股价便下挫了4.5％，跌至13.40美元。

    这家公司称，眼下华尔街经营环境疲软不振，它计划进一步裁员。自今年年初以来，摩根士丹利已裁员3,272人。该公司首席执行官詹姆斯•戈尔曼上周四告诉分析师说，他预计到今年年底，公司将进一步裁员1,000人。公司同时表示，薪酬开支相比一年前已缩减了10亿美元。戈尔曼说：“我们正在做其他所有公司都在做的事情——裁减人员、缩减开支。我们正在非常严密地控制所花费的各项支出。”

    该公司投资银行部门的销售收入相比第一季度及去年同期均下滑了50％左右。而盈利更是下滑了90％以上。尽管摩根士丹利是Facebook在第二季度进行可谓是今年最热门首次公开募股（IPO）的主承销商，但仍然在该季度出现盈利下滑的情况。

    这个糟糕的盈利结果为摩根士丹利被认为堪称自金融危机以来最糟糕的一个季度划上了难堪的句号。2008年金融危机期间，许多人一度认为这家公司可能会破产。人们普遍认为，是它搞砸了Facebook的IPO。Facebook上市的第一天，它的股票在开始交易前所延迟的时间超过了人们的预期。股票最终开始交易后，这家社交网络公司的股票几乎立即开始下跌。Facebook的股价最近为29美元，仍然远低于其38美元的IPO发行价。摩根士丹利的高管曾将Facebook IPO表现糟糕的部分问题归咎于纳斯达克股票交易市场。尽管如此，该银行似乎仍然在此项IPO承销交易中轻易赚取了丰厚的交易利润，即便这对它的声誉造成了损害。很难立刻弄清楚，Facebook的IPO对摩根士丹利到底有何影响。

    此外，在今年第二季度，摩根士丹利和其他银行一起，遭到穆迪（Moody's）评级下调的打击。摩根士丹利表示，由于其评级遭到下调，它不得不在第二季度宣布增加29亿美元的交易资金。

    一些观察人士认为，CEO戈尔曼扭转该公司的时间所剩无几了。戈尔曼力促该公司收购花旗美邦（Citigroup's Smith Barney）的大部分股份，从而形成了华尔街上规模最大的经纪公司。但这场合并到目前为止尚未获得回报。摩根士丹利的利润回升一直落后于其竞争对手，而该公司的股票价格在过去一年里也已下跌了30％。

    译者：iDo98

    Morgan Stanley has another reason to wish the second quarter never happened. It's the only major bank to report earnings that were below analysts' expectations.

    Morgan Stanley (MS) reported net income Thursday morning of $536 million, or $0.28 a share, in the latest quarter. Excluding accounting gains the firm made on an adjustment for its debt, earnings per share were $0.16. Analysts had been predicting the company would earn $0.40 a share. Sales, adjusting for the debt gains, were also lower than expected, at $6.6 billion, or about $1 billion less than analysts were expecting.

    A year ago, the company lost $530 million. But that quarter included a one-time loss of $1.7 billion related to an investment in the firm from Mitsubishi UFJ Financial Group.

    Morgan Stanley's shares were down 4.5% shortly after the market opened to $13.40.

    The firm said it plans to continue to cut staff amid the weak environment on Wall Street. Morgan Stanley has already reduced its headcount by 3,272 employees since the beginning of the year. CEO James Gorman on Thursday told analysts he expect his firm to eliminate another 1,000 positions by the end of the year. The firm said compensation expenses had fallen $1 billion from a year ago. "We are doing what everyone else is doing," says Gorman. "We are controlling what we spend very closely."

    Sales in the firm's investment banking division fell by about 50% from the first quarter and a year ago. Earnings were down by more than 90%. The drops came despite the fact that Morgan was the lead underwriter of Facebook's IPO, which happened in the quarter and was this year's most sought after deal.

    The poor earnings caps off what has to be considered one of Morgan Stanley's worst three month periods since the financial crisis, when many thought the firm might fail. It is widely believed that the firm botched the Facebook IPO. On the day of the IPO, the stock took much longer than expected to begin trading. When it did, shares of the social networking company almost immediately began to fall. At a recent $29, Facebook's stock is still trading well below its $38 offering price. Morgan Stanley officials have blamed some of the problems of the IPO on the Nasdaq stock exchange. Nonetheless, the bank appeared to rake in big trading profits on the deal, even as it hurt its reputation. It wasn't immediately clear how Facebook's offering impacted Morgan's earnings.

    Also in the quarter, Morgan Stanley, along with other banks, was hit by a ratings downgrade by Moody's. Because of the downgrade, Morgan Stanley said it had to post additional trading capital of $2.9 billion in the quarter.

    Some observers believe CEO Gorman may be running out of time to turn around the firm. Gorman pushed the firm to purchase a majority stake in Citigroup's Smith Barney, creating the largest brokerage house on Wall Street. But the merger has yet to pay off. Morgan Stanley's profit rebound has lagged rivals, and the company's shares have fallen 30% in the past year.