Morgan Stanley's stock rallies after big revenue beat, boosted by strength in fixed income underwriting

Shares of Morgan Stanley MS, -0.89% climbed 1.3% in premarket trading Tuesday, after the bank and broker missed profit expectations because of special one-time charges, but beat revenue forecasts by a wide margin, boosted by strength in its investment banking business. Net income dropped 32.2% to $1.52 billion, or 85 cents a share, to miss the FactSet consensus of $1.07. The results included charges of 28 cents a share related to an FDIC special assessment and a legal charge. Revenue grew 1.2% to $12.9 bil ...