Here comes Morgan Stanley ...

Morgan Stanley will report third-quarter earnings results Tuesday at 7 a.m.

Wall Street analysts are expecting the investment bank to produce earnings of $0.81 per share, down from $0.87 in the second-quarter.

Here are the other figures Wall Street is expecting:

• Revenues: $9.04 billion, down from $9.5 billion in the second quarter.
• Net income: $1.5 billion, down from $1.59 billion in the second quarter.
• Investment banking revenues: $1.15 billion
• Trading revenues: $3.01 billion, including $1.15 billion from FICC and $1.86 billion from equities.

Morgan Stanley is expecting a hit to its trading business. Fixed income, currencies, and commodities trading revenues have particularly suffered at the big banks, with Bank of America reporting a 22% drop, Citi reporting a 16% drop, and JPMorgan reporting a 27% drop.

Nonetheless, each of the three competing banks beat earnings estimates handily last week and produced otherwise positive results.