Morgan Stanley stock rallied to a new record after the bank reported quarterly earnings that beat Wall Street’s expectations. Profit rose 32% to $3.19 billion. That amounted to $1.88 per share, which was better than expected.

I am bullish on IPOs and M&A coming back,” said the banks’ CEO. “It may take some time…I think these are going to be global, mature companies that are very much

Morgan Stanley's third-quarter profit surged 32%, fueled by a rebound in dealmaking that had also buoyed its rivals, sending its shares up 3% before the market open. The investment bank posted a profit of $3.