Morgan Stanley (MS) +2.8% premarket after entering a settlement with MBIA (MBI) regarding...

|About: Morgan Stanley (MS)|By:, SA News Editor

Morgan Stanley (MS) +2.8% premarket after entering a settlement with MBIA (MBI) regarding several lawsuits over credit default swaps which will lead to a $1.8B pretax charge for MS but also frees up capital. The settlement "better positions the firm for Basel III by resolving outstanding legacy exposures and releases capital to reinvest in our client-focused businesses."