Morgan Stanley's profit more than doubled in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record.

Morgan Stanley (NYSE:MS) analyst team downgraded China Traditional Chinese Medicine Holdings Co. Limited (570:HK) stock from Equalweight to Underweight, adjusting the price target to HK$1.70 from the previous HK$2.

Morgan Stanley’s profit more than doubled in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record. The earnings rounded out a robust quarter for Wall Street banks,

Morgan Stanley's profit increased in the fourth quarter, fueled by a wave of dealmaking. The investment bank's earnings grew to $3.7 billion, or $2.22 per share, it said on Thursday, compared with $1.