(Bloomberg) — Morgan Stanley shares jumped the most in more than seven years after the Wall Street bank raised its profit targets and reported a massive increase in fixed-income trading, joining its bigger rivals in staging a roaring comeback for the industry.Fourth-quarter bond-trading revenue more than doubled, helping lift annual profit to an all-time high, and fees from merger advice and stock and debt underwriting beat analysts’ estimates, according to a company statement Thursday.Shares of the company, which jumped 29% last year, advanced 7.7% to $57 at 2:05 p.m. in New York, and reached $57.36 earlier Thursday, the biggest intraday …read more
Source:: Yahoo Finance
