Morgan Stanley further exits physical commodities business; positive write-up in Barron's

|About: Morgan Stanley (MS)|By:, SA News Editor

With the sale of its 100% interest in TransMontaigne Partners to NGL Energy Partners, "Morgan Stanley’s (MS) leading commodities division will be leaner, more client focused and better aligned with the rest of the Firm’s businesses," says Colm Kelleher, President of Institutional Securities at the bank.

The deal is expected to result in a non-material gain for Morgan.

In other news, Morgan got the Barron's cover in a good way (or bad way if you're a contrarian type) over the weekend, with the magazine touting the bank's transformation towards less risk and less debt trading as providing the model going forward for the rest of Wall Street.

The stock's ahead 0.15% premarket.