Morgan Stanley (MS) experienced a surge in investment banking, leading to a dealmaking revival on Wall Street. Investment banking fees jumped 51% from the previous year, with significant increases at other big banks as well, signaling a recovery after a two-year downturn. CEO Ted Pick highlighted the delayed progress, but the company's net profit rose by 41%, surpassing analyst expectations. However, the wealth management unit fell short, with decreased net new assets and revenues compared to analyst forecasts. Despite this, Pick remains optimistic about the firm's growth and long-term value for shareholders. The stock saw a 3% increase, but its performance in wealth management remains a challenge. Overall, Morgan Stanley's strong quarter in investment banking and trading has positioned it for continued success in a changing market environment.