Morgan Stanley’s Dealmakers Post Biggest Gains on Wall Street
- Bank also surpasses analysts’ estimates for both trading units
- The shares climb after second-quarter net income rises 39%
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Morgan Stanley is putting Ted Pick in charge of the firm’s investment bank with momentum in his favor.
The business posted the biggest second-quarter revenue increase on Wall Street Wednesday, and the firm’s trading operation topped analysts’ estimates. That drove a 39 percent jump in earnings that was also better than expected, and the shares surged the most in almost four months.