Morgan Stanley profits rise 57%

Morgan Stanley's quarterly earnings rose 57 percent as the smallest of the big Wall Street firms benefited from a trading rebound that has helped the country's largest banks.

Net income was $1.6 billion, or 81 cents a share, up from $1.02 billion, or 48 cents a share, a year earlier.

Revenue increased 15 percent to $8.9 billion.

The firm's return on equity, a closely watched measure of profitability, was 8.7 percent in the third quarter, versus 5.6 percent a year ago.

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