CNN BUSINESS | Stocks soar as America’s biggest banks are booming

New York (CNN Business) – Several of America’s largest financial firms reported strong earnings and revenue Thursday thanks to solid demand for loans, better credit quality and a boom in mergers and initial public offerings.

Morgan Stanley (MS), Citigroup (C), Bank of America (BAC) and even troubled Wells Fargo (WFC) posted healthy results that surpassed analysts’ expectations.

Shares of BofA were higher in early trading, while Morgan Stanley and Citi were flat. Wells Fargo’s stock fell.  —read more—