Morgan Stanley outpaced analyst expectations in its first-quarter earnings report, driven by a resurgence in investment banking and wealth management, leading to a 3.7% surge in shares. Investment banking revenue surged by 16%, buoyed by robust fixed-income underwriting and steady growth in wealth and investment management divisions. Analyst Chris Kotowski hailed the bank's performance as "excellent," drawing parallels with rival Goldman Sachs.

Morgan Stanley reported a profit of $2.02 per share, surpassing the estimated $1.66. CEO Ted Pick highlighted growing momentum in investment banking, anticipating a prolonged M&A cycle over the next 3 to 5 years, potentially fueled by geopolitical risks and disruptions in global supply chains. The wealth management division showcased remarkable resilience, contributing to stable revenue amid market volatility. Despite facing regulatory scrutiny over client vetting processes, Morgan Stanley remains focused on expanding its wealth business, eyeing a doubling of its private credit portfolio to $50 billion.