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Morgan Stanley is expected to report sharp declines in third-quarter earnings and revenue ahead of Wednesday's opening bell, hurt by months of weak trading activity. The financial giant is forecast to post earnings of 15 cents a share, less than half the 38 cents a share booked a year ago.

It's great fun to see big-shot CEOs get out of their corner offices on the TV hit Undercover Boss. But it would be even more fun to watch America's true corporate titans do it. We imagine undercover assignments for Steve Jobs, Warren Buffett, BP's Bob Dudley and others.

In one of the most complex and convoluted deal done on Wall Street in quiet a while, Student Loan Corporation, which originates and services student loans and is a subsidiary of Citibank, will be sold.

Two years after Lehman Brothers collapsed and put the financial crisis into meltdown mode, Wall Street and the financial industry are still struggling to rebuild from the ashes. But as the economy recovers, are bank stocks good buys? Here are the bull and bear cases for three of the nation's biggest banks.

A federal judge rejected Citigroup's $75 million settlement with the SEC, asking for further information about the case.

Morgan Stanley is expected to swing back to profitability in the second quarter when it releases results ahead of Wednesday's opening bell, but like other Wall Street giants, its revenues from trading likely swooned in spring and early summer.

Stocks fell sharply Friday after earnings from the nation's biggest banks disappointed investors and the latest reading on consumer sentiment plunged on job fears. The financial sector sold off more than 4%.

Profits at the nation's second-largest bank easily topped Wall Street estimates in the second quarter as lower losses on bad loans more than made up for a slowdown in its securities trading and underwriting business.

Reporting early Thursday, the nation's second-biggest bank should show strong results from investment banking and lower loan losses. The consensus is for 70 cents per share in earnings, up from 28 cents in the prior-year period.

Federal prosecutors are looking into whether banks misled investors about their roles in mortgage-bond deals. Targeted banks include Citi, JPMorgan Chase, and UBS. At the same time, New York's Attorney General is launching a separate probe of whether some banks misled ratings agencies.