Morgan Stanley's profit jumps 32% on bumper dealmaking

MORGAN Stanley's third-quarter profit surged 32%, fueled by a rebound in dealmaking that had also buoyed its rivals, sending its shares up 3% before the market open.

The investment bank posted a profit of $3.19 billion on Wednesday, or $1.88 per share, for the three months ended Sept. 30. That compares with $2.41 billion, or $1.38 per share, a year earlier.