Morgan Stanley's profit more than doubled in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record.

Morgan Stanley’s traders beat analysts’ estimates in the fourth quarter, joining their other Wall Street rivals in reporting a strong end to the year on volatility tied to the US elections and economic data in the final months of 2024.

Morgan Stanley's profit increased in the fourth quarter, fueled by a wave of dealmaking. The investment bank's earnings grew to $3.7 billion, or $2.22 per share, it said on Thursday, compared with $1.

Morgan Stanley (NYSE:MS) analyst team downgraded China Traditional Chinese Medicine Holdings Co. Limited (570:HK) stock from Equalweight to Underweight, adjusting the price target to HK$1.70 from the previous HK$2.