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Equities in Focus - Morgan Stanley (NYSE:MS), Monster Worldwide, Inc. (NYSE:MWW), First Horizon National Corporation (NYSE:FHN)

Equities in Focus - Morgan Stanley (NYSE:MS), Monster Worldwide, Inc. (NYSE:MWW), First Horizon National Corporation (NYSE:FHN)
Written by
Joel Najarian
Published on
October 17, 2014
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Morgan Stanley (NYSE:MS), the financial-services company posted Q3 adjusted earnings well above analysts' expectations as revenue also came in above the Street view. Morgan Stanley (NYSE:MS) trades in a 52-week range of $28.13 to $36.44. Q3 earnings applicable to common shareholders climbed to $1.65 billion, or $0.84 per diluted share, from $880 million, or $0.45 per diluted share, a year earlier. Adjusted earnings per diluted share from continuing operations were $0.77 in the latest quarter, up from $0.50 a year earlier. Analysts polled by Capital IQ were looking for $0.53.Consolidated net revenue climbed to $8.91 billion from $7.95 billion a year earlier, topping analysts' mean estimate of $8.18 billion. Revenue tumbled 21% in the investment-management segment, but was up 22% in the company's largest segment, institutional securities, and up 9% in its second-largest segment, wealth management. The return on average common equity from continuing operations jumped to 10.0% from 5.6% a year earlier.Monster Worldwide, Inc. (NYSE:MWW) priced an offering of $125 million aggregate principal amount of its convertible senior notes due 2019 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Concurrently with the pricing of the notes, Monster Worldwide, Inc. (NYSE:MWW) entered into a capped call transaction with an affiliate of one of the initial purchasers. The sale of the notes is expected to close on October 22, 2014, subject to customary closing conditions. Monster also granted the initial purchasers of the notes an option to purchase up to an additional $18.75 million aggregate principal amount of the notes to cover over-allotments, if any. MWW trades in a 52-week range of $3.98 to $8.50.First Horizon National Corporation (NYSE:FHN) reported that for Q3 ended Sept. 30, 2014, it returned to profit from a loss in the year-ago period, and topped analysts' expectations. First Horizon National Corporation (NYSE:FHN) shares are trading with a 52-week range of $10.60 - $13.23. The bank holding company for First Tennessee Bank National Association posted Q3 net income $45.32 million, or $0.19 per diluted share, compared with the prior-year period's net loss of $107.45 million or $0.45 loss per diluted share. Analysts polled by Capital IQ were expecting EPS of $0.17 EPS.The company said it generated earnings by growing loans and net interest income, maintaining net interest margins and strong asset quality, controlling costs and extracting value as the company winds down its non-strategic businesses. Average loans in the regional bank, First Tennessee, were up 4% from Q2. Fixed income revenue in the FTN Financial capital markets group increased to $41.2 million in the quarter from $40.5 million in Q2.

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