morgan stanley

JPMorgan Chase, the nation's largest bank, posted a record profit for 2011. That didn't translate into a bigger bonus for CEO Jamie Dimon.

Morgan Stanley's latest quarterly results topped expectations as the bank trimmed costs and cleaned up problems dating from the financial crisis.

But CEO James Gorman saw the value of his stock awards for the year fall by half.

With firms like Goldman Sachs and Morgan Stanley reporting weak results, Wall Street’s moneymakers are doubting they will ever get back to their high-rolling ways.

Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:

UPGRADES Morgan Stanley upgrades shares of Boeing (NYSE: BA) from Equalweight to Overweight, with a price target is $82.

JPMorgan lifts Bally Technologies (NYSE: BYI) from Neutral to Overweight, its price target raised from $35 to $47.

Canaccord Genuity boosts Edwards Lifesciences (NYSE: EW) from Hold to Buy, maintaining a price target of $75.

The following is a list of some brief articles to get you through the lunch hour:

• Draghi Comments Fail to Soothe Markets Ahead of EU Summit -> Read this!
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Gainers

• SPDR S&P 500 (NYSE: SPY) up 3.02 percent to $119.85. U.S. markets are making a rebound, following several sessions of losses, as hopes for a new European bailout plan as well as strong Black Friday sales, have investors making a move toward the markets.
  
  The Dow is up about 2.7 percent, while the Nasdaq and S&P 500 are up about 3 percent.
• Financial Select Sector SPDR (NYSE: XLF) up 3.14 percent to $12.15.

Many new rules are going into effect to rein in Wall Street banks. But no rule has sparked as much confusion and outrage on Wall Street as the Volcker rule.

Gainers

• United States Oil (NYSE: USO) up 0.23 percent to $34.23. Crude prices creeping higher on a shaky U.S. dollar and inventory data today.
  
  Crude saw a drop of 4.7 million barrels to 332.9 million barrels. Analysts were expected a more modest draw-down of 1.75 million barrels.
• Financial Select Sector SPDR (NYSE: XLF) up 0.51 percent to $12.85.
  
  Citi (NYSE: C) and Bank of America (NYSE: BAC) bouncing higher today, following a sell off earlier in the week on earnings results and overall market weakness.

Morgan Stanley swung to a $2.15 billion profit in the third quarter, helped by a large accounting gain, even as core revenue in trading, banking and wealth management operations fell.

In an effort to secure lucrative brokerage and trading business, big banks like Goldman Sachs, Deutsche Bank, Morgan Stanley and Bank of America have become powerful recruiting forces for their biggest hedge fund clients.