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Brennan Hawken of UBS asks about the Wealth Management business. $MS said it had good recovery in margin that was driven on the revenue and expense side. The company is confident in its 23-25% margin target. There are some streamlining intitiatives underway which will help the business. $MS is well-positioned to grow this business going forward.
What will be an ideal EPS range for $PZZA in its earnings today?
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.