Morgan Stanley climbed to the highest price in more than two years after second-quarter earnings beat estimates and the firm said it will buy back $500 million in stock.
The shares rose $1.34, or 5.1 percent, to $27.88. While that’s the highest since April 2011, it’s still below the $29.60 price at the end of 2009, when chief executive officer James Gorman took over.
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