Morgan Stanley Shares Rise After Ubben’s Fund Discloses 2% Stake

  • ValueAct Capital says it purchased 38 million shares
  • Shares of bank rise the most on S&P 500 Financials Index

Morgan Stanley rose the most among top U.S. banks after activist Jeff Ubben’s ValueAct Capital Management disclosed a 2 percent stake, attracted by the investment bank’s shift toward fee-based businesses.

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