Bank of America

Bank of America saw a 0.4% increase in premarket trading after surpassing expectations for both revenue and profit in the second quarter. The bank’s success can be attributed to more profitable lending, which was boosted by higher interest rates.

Bank of N.Y. Mellon

Bank of N.Y. Mellon reported better-than-expected profit and revenue for the second quarter. However, the stock fell over 1%, despite benefiting from higher interest rates.

PNC Financial

PNC Financial experienced a 2.7% drop in premarket trading due to lower-than-expected quarterly revenue, despite beating earnings forecasts. Deposits and net interest income both declined at PNC.

Verizon and AT&T

Verizon gained 1% in premarket trading, while AT&T rose 0.7%. Both companies have recently seen a decline in stock prices, with AT&T reaching its lowest level since 1993 and Verizon hitting its lowest point since 2010. Analysts are concerned about potential liability from lead-encased cables across the U.S.

Masimo

Masimo’s stock plummeted 28% in premarket trading after the medical device maker forecasted lower-than-expected sales for the second quarter. Hospitals reducing equipment spending due to increased personnel costs contributed to this decline.

Novartis

Novartis experienced a 2.9% jump in premarket action after raising its full-year outlook on strong pharmaceutical sales. The company also announced plans to spin off its generic drug division, Sandoz, in early fourth quarter.

Pinterest

Pinterest rallied 3.3% in off-hours trading following an upgrade to “outperform” from “in-line” by Evercore ISI. The upgrade is based on the expectation of stabilizing digital ad spending and a potential recovery in the second half of the year.

Norwegian Cruise Line

Norwegian Cruise Line’s stock slid 1.8% in premarket action after being downgraded by Truist from a buy to a hold. While Truist is optimistic about cruise industry trends, they note the stock’s recent outperformance.