Bank of America, Pinterest, Chipotle rise premarket; Morgan Stanley falls

investing.com:

Investing.com — U.S. futures 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:BAC) stock rose 0.5% 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.

Shopify (NYSE:SHOP) 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:PINS) 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:PFE) 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:CMG) 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:NVS) 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.