Morgan Stanley shares rose Wednesday morning as the bank became the latest to surpass analyst estimates for the third quarter.

Morgan Stanley will be the next big bank to report results on Wednesday, along with several regionals. MarketWatch will be breaking down the latest earnings live.

We are bullish on Morgan Stanley stock after Q3 earnings beat expectations, despite an expensive valuation. Discover more on MS stock here.

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.

Morgan Stanley said Wednesday that its profit for the third quarter surged 32% from a year ago, lifted by more activity out of its investment bank, notably across fixed-income underwriting work for clients.

Morgan Stanley's stock was surging 7.4% in recent trading toward a record high and its biggest gain in four years in the wake of a big earnings beat. The gain was enough to lead the Fi

Morgan Stanley's profit surpassed estimates on a bumper third quarter for investment banking that had also buoyed rivals, sending its stock to a record.