Morgan Stanley’s stock outpaced gains in other financial stocks Thursday, after the bank and broker forecast a robust flow of deals as it beat both profit and revenue expectations for the latest quarter.

Morgan Stanley’s institutional securities group, which houses its investment banking and trading businesses, reported revenue of $7.3 billion in the fourth quarter, a 49% jump from $4.9 billion a year earlier.

CNBC's Leslie Picker joins 'Squawk Box ' to report on the company's quarterly earnings results.

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,