Financial Winners, Losers: Morgan Stanley (MS)

(TheStreet) -- The biggest event in the financial headlines on Wednesday was President Obama signing into law the financial regulation reform package, not affectionately known on Wall Street as FinReg. It was fitting that Wednesday was not a big day for the Wall Street firms as President Obama made FinReg law. However, there was one big winner on Wall Street on Wednesday, Morgan Stanley MS, whose shares were buoyed by strong earnings, outperforming not just Street expectations by a wide margins but earnings recently reported by some peers in the financial sector. Morgan Stanley was far and away the winner among earnings rally stocks, up more than 9% on Wednesday and attracting a lot of buying action -- Morgan Stanley trading volume was more than double its average daily volume of 16 million shares by midday Wednesday. Morgan Stanley shares gained $2.20 to $27.42 in the early afternoon on Wednesday. To read the rest, head over to TheStreet.com