Morgan Stanley First Quarter Earnings Fall While Trading Beats Estimates

The transcript discusses Morgan Stanley's financial performance, highlighting a decline in wealth management revenue and a strong performance in equity sales and trading. Despite these results, the stock is down. Analysts are concerned about the wealth management figures and the impact of the E-Trade acquisition. The transcript also touches on competition with JP Morgan and Goldman Sachs in market share.

What significant acquisition did Morgan Stanley announce during the quarter?

How does Morgan Stanley's market share compare to JP Morgan and Goldman Sachs?