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$MS 2Q15 Call: Investment Banking: Announced the sale of Global Oil Merchanting and expects to close later in FY15. Reduced headcount, balance sheet and RWAs, while remaining a full-service global fixed income partner to top clients. Average trading VaR was $54MM, driven by increased client activity and choppier market.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.
$VZ down more than 2% after a disappointing third quarter. A lot of uncertainty on the Yahoo deal too.