Morgan Stanley's profit doubles as bond-trading revenue surges

(Reuters) - Wall Street bank Morgan Stanley's profit doubled in the last quarter of the year, far exceeding expectations, as trading activity surged following the U.S. presidential election. Earnings applicable to the bank's common shareholders soared to $1.51 billion in the three months ended Dec. 31 from $753 million a year earlier, while earnings per share increased to 81 cents from 39 cents. Analysts on average had expected a profit of 65 cents per share, according to Thomson Reuters I/B/E/S