Shares of banks and other lenders and money managers fell alongside Treasury yields fell even as earnings continued to surpass analysts' targets.

Shares of Morgan Stanley ticked down even after the Wall Street brokerage posted fourth-quarter earnings and revenue that blew the doors off analysts' expectations. Like those of rival Goldman Sachs Group, Morgan Stanley's trading desks were able to capitalize on a bout of intense volatility in global markets around the time of the presidential election.

Financial firm Sixth Street Partners agreed to buy annuities company Talcott Resolution for $2 billion, the latest ownership change in a decade of frenzied industry-wide life-insurance deal activity.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-20-21 1709ET