Morgan Stanley Responds With A Rally

Morgan Stanley MS shares are trading higher by $1.17 (2.7 percent) at $42.38 in Wednesday's session. Before the open, the company posted a Q1 EPS beat of $0.12 along with a strong revenue beat of $400 millioin.

Unlike JPMorgan JPM, Citigroup C and Bank Of America BAC, whose shares declined after good reports, the stock is firmly in the green midway through the session.

See Also: Your Big Bank Q1 Earnings Roundup

After a higher open, Morgan Stanley's stock continued in that direction. The ensuing rally has taken the issue to $42.94. That high coincides with a trio of highs from April 3 ($42.99), April 4 ($42.84) and April 5 ($43.10). Since making that high, it came back through its opening price ($42.31), made a new intraday low at $42.12 and is attempting to mount another rally.