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(

Updated with stock price moves

.)

NEW YORK (

TheStreet

) --

Morgan Stanley

(MS) - Get Morgan Stanley Report

was among the winners of the financial sector, rising 4.5% following two separate analyst upgrades.

Morgan Stanley

shares rallied after both UBS and Credit Suisse upgraded the stock to buy and outperform, respectively, from neutral. Both analysts cited Morgan Stanley's strong capital position as among the reasons for their upgrades.

Morgan Stanley shares were lately up $1.33, or 4.5%, to $30.93.

In other bank news,

Brian Moynihan

began his tenure as CEO of

Bank of America

TheStreet Recommends

on Monday, succeeding outgoing CEO Ken Lewis. In an interview with

Bloomberg

Monday, Moynihan said the worst of the recession is over and that the bank is finished with acquisitions.

Bank of America was rising by 53 cents, or 3.5%, to $15.59.

Elsewhere,

Citigroup

(C) - Get Citigroup Inc. Report

traded higher after

Fxall

, a foreign exchange currency-trading platform, said it has reached an agreement to buy LavaFX from the bank. Terms of the acquisition weren't disclosed.

Citigroup shares were climbing 6 cents, or 1.8%, to $3.37.

Most other U.S. bank stocks were trading higher as well, With

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report

advancing 3% to $42.87,

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

up 2.6% to $173.29, and

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

adding 0.8% to $27.21.

Radian Group

(RDN) - Get Radian Group Inc. Report

was also among the winners of the financial sector after the mortgage insurer said it completed two tender offers to buy money market committed preferred securities issued by custodial trusts. Radian accepted payments of $32.9 million and $44 million in the two offers that closed Dec. 30.

Radian said a third offer expired on Dec. 30 without satisfying the minimum threshold. Still, shares of Radian jumped 7.5% to $7.86.

Other mortgage insurers were on the rise as well.

Triad Guaranty

(TGIC)

rallied 7.4%,

MGIC Investment

(MTG) - Get MGIC Investment Corporation Report

rose 6.9%, and

The PMI Group

(PMI)

was higher by 2%.

On the downside,

Fannie Mae

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and

Freddie Mac

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began the new year with losses, slipping 0.8% and 3.4%, respectively.

-- Written by Robert Holmes in Boston

.

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