Morgan Stanley Profit Drops by a Third  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 by a third  on sharply lower bond trading revenue and higher expenses,  falling well short of Wall Street's low expectations and  pushing the company's shares down as much as 8 percent.