Morgan Stanley (MS) NewsBite - Morgan Stanley to Enter Joint Venture in Vietnam

Posted on Wednesday, February 06, 2008 11:52 AM

Morgan Stanley (MS) opened at 45.90. So far today, the stock has hit a low of 44.41 and a high of 46.31. MS is now trading at 45.86, up 0.30 (0.65%). The stock hit its 52 week high of 77.3 in June and set its 52 week low of 42.57 in January. MS has been losing ground since June of last year. Morgan Stanley shares have been trading higher today on news that the company is close to get regulatory approval for a securities joint venture in Vietnam. Under the deal, MS will be able to underwrite initial public offerings and to more easily invest the firm's own money in Vietnamese companies. Technical indicators for the stock are neutral and improving while S&P gives MS a negative 2 STARS (out of 5) sell rating. If you’re looking for a hedged play on this stock, consider a March bear-call credit spread above the $55 range. MS stock could rise up to 19.9% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]