Morgan Stanley (MS -9.3%) warns in its 10-Q quarterly report that the S&P downgrade could...

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

Morgan Stanley (MS -9.3%) warns in its 10-Q quarterly report that the S&P downgrade could have a "material adverse" impact on its business. The firm also notes in it faces losses of up to $492M plus interest over two derivatives-related lawsuits, plus a $125M charge expected from a U.K. tax.