[SatNews] The private-equity arm of Morgan Stanley (MS) plans to sell nearly half its 31 percent stake in DigitalGlobe Inc. (DGI) as shares of the provider of imaging services to the defense community have jumped one-third this year.

The move by Morgan Stanley will result in the investment bank losing the right to name two of DigitalGlobe's nine directors; it will keep the right to nominate three so long as its stake remains above 15 percent. The sale of at least 6 million DigitalGlobe shares will cut its stake to as little as 18 percent. DigitalGlobe reiterated its 2010 guidance and forecast third- quarter earnings of 10 cents to 14 cents a share on revenue of $85 million to $91 million. On average, analysts polled by Thomson Reuters most recently expected 11 cents and $87 million, respectively. The company has been reporting growth but profit in the second quarter fell on a surge in interest costs. DigitalGlobe last month unveiled a 10-year contract valued at $3.55 billion with the National Geospatial-Intelligence Agency.