Morgan Stanley: Wait, I Thought It Was Good News?!?!

Morgan Stanley ( MS ) released its earnings today , and for all intents and purposes they were "good." That's never stood in the way of a bit of selling, however, and it hasn't today for Morgan Stanley. Morgan Stanley reported a profit of 81 cents a share , topping forecasts for 65 cents, on sales of $9 billion, ahead of estates for 8.5 billion. JMP's Devin Ryan calls it a "strong finish to non-conventional year." He explains: