Morgan Stanley Shares Rise After Earnings Beat

Morgan Stanley shares were up 4% in premarket trade Tuesday after the company beat fourth-quarter earnings expectations. The company reported net income of $908 million, or 39 cents per share, compared to net losses of $1.6 billion, or a loss of 91 cents per share, in the year-earlier period. The company reported adjusted earnings per share of 43 cents, above the FactSet consensus of 33 cents. Morgan Stanley reported revenue of $7.7 billion, below $7.8 billion in the year-earlier period but above the FactSet consensus of $7.6 billion.