Morgan Stanley (MS) reported first-quarter net income applicable to company of $1.1 billion or $0.55 per share, compared to $2.4 billion, or $1.18 per share, a year ago. Excluding the tax benefit and DVA, net income applicable to Morgan Stanley was $1.8 billion, or $0.85 per share in the prior year period. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $0.46 for the quarter. Analysts’ estimates typically exclude special items.