Morgan Stanley - The 'Weak Sister' No More

Morgan Stanley's first-quarter profits came in at $1.78bn, after very strong fixed income revenues.

Here's a few sound bites on the firm's performance:

'We've clearly benefited from a strong environment, (but) we are executing on our strategy'.

Ruth Porat, CFO, Morgan Stanley (Reuters)

'Our intense focus on disciplined execution across Morgan Stanley's global franchise helped the firm deliver improved results this quarter, though we still have a great deal of work to do'.

James Gorman, CEO, Morgan Stanley (The New York Times)

'The fixed income franchise is coming back for Morgan Stanley. The history of this organisation is that it's very strong on the fixed-income side'.

Jason Tyler, SVP, Ariel Investment LLC (Bloomberg TV)

'It was a pleasant surprise from them. They finally delivered on the trading side. We've been waiting for them to do this and they've done it'.

Anton Schutz, President, Mendon Capital (Reuters)

'This was really surprising. Given the previous four quarters, where they really looked like the weak sister, this quarter they really stepped out. These were great numbers'.

Thomas Brown, CEO, Second Curve Capital (Bloomberg TV)

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