CHARLOTTE, N.C. (AP) — Morgan Stanley saw its fourth-quarter profits surge 48% from a year earlier, as the Wall Street bank benefited from the market’s upward swing and investors jubilation for tech stocks and IPOs late last year. The New York-based firm earned $3.39 billion, or $1.81 a share, up from a profit of $2.31 billion, or $1.30 a share, in the same period a year earlier. The results were significantly better than the per-share earnings of $1.30 that analysts had expected, according to FactSet.
Morgan Stanley profits rise 48%, helped by strong markets
