text: Morgan Stanley Profit Falls 34 Percent  NEW YORK (Reuters) - U.S. investment bank Morgan Stanley  &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=MWD.N target=/stocks/quickinfo/fullquote"&gt;MWD.N&lt;/A&gt; on Wednesday said quarterly profit dropped 34 percent  amid reduced trading revenue, falling well short of Wall  Street's already-lowered expectations after a summer of  sluggish market activity.