Morgan Stanley's profit more than doubled in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record.

Morgan Stanley’s profit more than doubled in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record. The earnings rounded out a robust quarter for Wall Street banks,

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,

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’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.