Skip to main content

Fremont General

( FMT) was in the news again Wednesday, soaring more than 14% after announcing it will

sell about $4 billion of its subprime loans, and that it has already received about $950 million in cash to that effect. The loans are being sold at a discount and will ultimately result in pretax loss of about $140 million. But shares were adding $1.27 to $10.05.

Morgan Stanley

(MS) - Get Morgan Stanley Report

TheStreet Recommends

climbed on two pieces of news. The brokerage giant

smashed Wall Street expectations for the quarter ended Feb. 28, posting income from continuing operations of $2.56 billion, or $2.40 a share. Analysts polled by Thomson Financial were seeking $1.88 a share.

In addition, a Florida appeals court reversed a $1.58 billion verdict against Morgan Stanley from a 2003 breach-of-contract suit. Shares were rising $3.21, or 4.2%, to $79.32.

First Data

(FDC) - Get First Data Corporation Class A Report

was higher after the e-commerce firm said it struck a deal for rights to credit-card technology firm PrivaSys' portfolio of patents. Financial terms weren't disclosed. First Data shares were gaining 32 cents, or 1.3%, to $25.51.