Key Takeaways A TikTok ban could go into effect in the U.S. on Sunday, leaving other companies to compete for its users’ attention and almost $10 billion in ad revenue.Meta could be the biggest winner given its large user base said analysts at Morgan Stanley.

Morgan Stanley’s institutional securities group, which houses its investment banking and trading businesses, reported revenue of $7.3 billion in the fourth quarter, a 49% jump from $4.9 billion a year earlier.

CNBC's Leslie Picker joins 'Squawk Box ' to report on the company's quarterly earnings results.

Morgan Stanley’s profit more than doubled in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record. The earnings rounded out a robust quarter for Wall Street banks,