Midday movers: Morgan Stanley, Pinterest, Masimo and more

Investing.com
·2 min read

Investing.com -- U.S. stocks are rising on Tuesday as investors digested a deluge of corporate earnings, especially from big banks.

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

Bank of America (NYSE:BAC) stock rose 4.7% after the lending giant reported 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:MS) stock rose 6.7% after the investment bank beat expectations for adjusted profit and revenue as strength in wealth management helped overcome weakness in deal activity.

Shopify (NYSE:SHOP) stock fell 2.4% 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:PINS) stock rose 3.8% 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:PFE) stock rose 1.1% after the drugmaker and venture capital firm Flagship Pioneering agreed to invest $100 million to discover and develop 10 new potential drugs.

Chipotle (NYSE:CMG) stock rose 0.6% 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:NVS) ADRs rose 4.3% 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:MASI) stock fell 21% after the medical device maker reported weaker-than-expected second-quarter sales due to a weak performance at its healthcare segment.

-- Peter Nurse contributed to this report

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