CD138

CD138 (Syndecan-1) is expressed in mesenchymal and epithelial cells.  In the bone marrow hematopoietic cells, CD138 is a specific (and sensitive) marker for plasma cells (e.g. multiple myeloma).  The biggest pitfall in utilization of CD138 is plasmacytoid neoplasms showing expression of CD138 without consideration of a non-hematopoietic neoplasm expressing CD138!!  Always consider a metastatic process in the bone marrow, and utilize additional markers (AE1/AE3, kappa/lambda) to exclude/prove plasma cells origin.
 
The majority of epithelial neoplasms express CD138, and even a significant number of osteosarcomas, osteoid osteomas, and osteoblastomas react with CD138.  Recent literature suggests CD138 to be an adverse prognostic indicator in advanced and nonluminal subtype breast carcinomas.
Photomicrographs
CD138 - Bone Marrow
CD138 highlighting plasma cells in a bone marrow with multiple myeloma.
CD138-Ki67 - Bone Marrow
Combined CD138-Ki67 stain in a case of multiple myeloma.
CD138 - Bone Marrow
CD138 highlighting plasma cell in a bone marrow biopsy.
CD138 - Benign Plasma Cells
CD138 highlighting benign plasma cells with a perivascular cuffing pattern.

References
Bone Marrow IHC.  Torlakovic, EE, et. al. American Society for Clinical Pathology Pathology Press © 2009.  pp. 134.
 
Nunez, A. L., Siegal, G. P., Reddy, V. V. B., & Wei, S. (2012). CD138 (syndecan-1) expression in bone-forming tumors. American Journal of Clinical Pathology, 137(3), 423–428. doi:10.1309/AJCP6V4YPFBOCYXG 
 
Nguyen, T. L., Grizzle, W. E., Zhang, K., Hameed, O., Siegal, G. P., & Wei, S. (2013). Syndecan-1 overexpression is associated with nonluminal subtypes and poor prognosis in advanced breast cancer. American Journal of Clinical Pathology, 140(4), 468–474. doi:10.1309/AJCPZ1D8CALHDXCJ 
 
Joshi, R., Horncastle, D., Elderfield, K., Lampert, I., Rahemtulla, A., & Naresh, K. N. (2008). Bone marrow trephine combined with immunohistochemistry is superior to bone marrow aspirate in follow-up of myeloma patients. Journal of Clinical Pathology, 61(2), 213–216. doi:10.1136/jcp.2007.049130