More on Morgan Stanley's earnings

Yes, the firm trounced expectations thanks to strong performance in commodities and fixed income. But there are plenty of reasons to worry. The firm's retail unit continues to struggle, as does its asset management business. Most notably, investment banking advisory revenue fell 26 percent, in stark contrast to the large gains at Goldman Sachs. So John Mack still has his work cut out for him.

> Here's a New York Times article.

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