Morgan Stanley’s stock outpaced gains in other financial stocks Thursday, after the bank and broker forecast a robust flow of deals as it beat both profit and revenue expectations for the latest quarter.

Morgan Stanley said its profit more than doubled in the fourth quarter, fueled by its investment banking and trading businesses. Profit surged 145% to $3.71 billion. That amounted to $2.22 per share,

Profits at Bank of America (BAC) and Morgan Stanley (MS) more than doubled in the fourth quarter, signaling a strong 2024 for Big Banks. Stephen Biggar, director of financial services research at Argus Research,

Morgan Stanley reported robust earnings surpassing market expectations, powered by significant gains in revenue and income.

Morgan Stanley's profit increased in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record. Investment banking fees gained from a surge in mergers and acquisitions as sentiment was boosted by a strong U.

Morgan Stanley’s institutional securities group, which houses its investment banking and trading businesses, reported revenue of $7.3 billion in the fourth quarter, a 49% jump from $4.9 billion a year earlier.

CNBC's Leslie Picker joins 'Squawk Box ' to report on the company's quarterly earnings results.