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Financial News Network
July 21, 2012 AT 7:44 AM
From Fnno.com, this is the Financial News Network, your source for the latest business news. Here's a few things to watch for in the financial world today July 19.Another big bank kicking off earnings this morning with not-so-good numbers. Morgan Stanley (NYSE:MS) posted an EPS of $0.29, definitely better than the $0.38 loss the same period last year. However, excluding accounting adjustments, profit was only $0.16 a share, below the $0.29 analysts were expecting. Revenue also fell 48%, the highest since CEO James Gorman took over the company in January of 2010. This big bank's stock will be one to watch after this news.Verizon Communications (NYSE:VZ) gave some positivity to the markets this morning. The phone and internet company posted an EPS of $0.64 which was in line with analyst estimates and up from the previous year. Revenue was up $28.55 billion this quarter, also beating estimates of $28.56 billion. This is strong growth for Verizon. Its Chairman and CEO Lowell McAdam said the company is on track to have double digit earnings growth by the end of the year.And finally Southwest Airlines (NYSE:LUV) looking good this morning. The company announced its second-quarter earnings, posting an EPS of $0.36, above analyst estimates of $0.33 a share. Revenue for the rose 4.7% to $4.62 billion, also above estimates of $4.59 billion. This all hashes out to a 42% increase in profit for the quarter. The company says it is due to lower fuel prices and a boost in productivity to cut costs. Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out website at fnno.com.