The $7 billion deal will advance Morgan Stanley's push into investment management as it shifts away from trading.
Goldman Sachs and Morgan Stanley see contraction followed by late-year rebounds.
The deal could prompt more consolidation in the online brokerage industry.
The bank is laying off about 2% of its workforce in a move that reflects its concerns over the economic outlook.
The company’s shares plunged after third-quarter results, but some analysts continue to like the stock.
Morgan Stanley, Darden Restaurants also report effects of the tax cuts.
The bank's fourth-quarter earnings reflect the more optimistic sentiment of investors since the election of Donald Trump.
The pledges come following concerns for the U.K. economy in the wake of the Brexit referendum.
But Morgan Stanley and Deutsche Bank are asked to resubmit their plans.
First-quarter earnings beat analysts' estimates but the firm admits that "global uncertainties" continue to weigh on its investment businesses.
Morgan Stanley and Wells Fargo commit to reducing credit exposures, but the coal industry is in decline anyway.
JP Morgan Chase, Morgan Stanley, and Barclays are shouldering most of the cost of a deal that resolved investors' allegations of CDS price fixing.
