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Morgan Stanley Whips Estimates as Investment Banking Shines

Updated from 7:18 a.m. on Wednesday, July 19, 2017.

Morgan Stanley (MS) posted higher quarterly earnings than analysts projected as an investment banking bonanza trumped the low volatility curbing bond-trading revenue across Wall Street.

Earnings of 87 cents a share compared with the 76-cent average of estimates from analysts surveyed by FactSet. Net income climbed 11% to $1.59 billion in the three months through June, the New York-based company said in statement on Wednesday, July 19.

"In many ways this...