Bank of America, Pinterest, Chipotle rise premarket; Morgan Stanley falls By Investing.com

Investing.com — U.S. edged lower Tuesday, with investors digesting a deluge of corporate earnings ahead of the release of retail sales and industrial production data.

Here are some of the biggest premarket U.S. stock movers today:

• Bank of America (NYSE:) stock rose 0.5% after the lending giant a rise in second quarter profit as it earned more from customers’ loan payments, while its trading arm fared better than expected.

• Morgan Stanley (NYSE:) stock fell 0.3% after the banking giant’s profit slipped 18% in the second quarter as Wall Street’s deal-making drought stunted revenue from investment banking.

• Shopify (NYSE:) stock fell 1% after Evercore ISI downgraded its stance on the e-commerce company to ‘in line’ from ‘outperform’, saying the risk-reward outlook on the stock is now less compelling.

• Pinterest (NYSE:) stock rose 3.5% after Evercore ISI upgraded its stance on the image-sharing company to ‘outperform‘ from ‘in line’, citing evidence of stabilizing digital ad spend and potential for recovery.

• Pfizer (NYSE:) stock rose 0.2% after the drugmaker and venture capital firm Flagship Pioneering agreed to invest $100 million to discover and develop 10 new potential drugs.

• Chipotle (NYSE:) stock rose 1.3% after the fast food chain signed a deal with Kuwait-based Alshaya Group, its first-ever franchise partner, to open locations in the Middle East next year.

• Novartis (NYSE:) ADRs rose 2.6% after the Swiss drugmaker raised its full-year profit and revenue outlook following solid second quarter sales, and proposed a timeline for the spin-off of its Sandoz generic medicines unit.

• Masimo (NASDAQ:) stock fell 28.1% after the medical device maker reported weaker-than-expected second quarter sales due to a weak performance at its healthcare segment.