Today's Pre-Market Stock Movers And Top Ratings: BAC, PINS, UNH, SHOP and More

$Bank of America(BAC.US)$ +0.4% (Bank of America added 0.4% in the premarket after beating top and bottom line estimates for the second quarter. BofA’s results were helped by more profitable lending, boosted by higher interest rates.)

$Verizon(VZ.US)$ +1.05% (Verizon gained 1% in premarket trading, while AT&T rose 0.7%. Both have been tumbling in recent days, with AT&T hitting its lowest level since 1993 Monday and Verizon dipping to its lowest since 2010. Analysts have been concerned about potential liability from miles of lead-encased cables across the U.S. )

$Novartis AG(NVS.US)$ +2.9%  (Novartis jumped 2.9% in premarket action after the drug maker raised its full-year outlook on strong pharmaceutical sales. Novartis also said its planned spin-off of generic drug division Sandoz would take place early in the fourth quarter.)

$Pinterest(PINS.US)$  +3.3% (Pinterest rallied 3.3% in off-hours trading following an upgrade to “outperform” from “in-line” at Evercore ISI. Evercore said it sees digital ad spending stabilizing, with indications of a recovery in the second half of the year.)

$Bank of New York Mellon(BK.US)$ -1%  (The bank reported better-than-expected profit and revenue for the second quarter. Like BofA, Bank of N.Y. Mellon benefited from the impact of higher interest rates. However, the stock fell more than 1%.)

$PNC Financial Services(PNC.US)$  -2.7% (PNC shares fell 2.7% in the premarket after posting lower-than-expected quarterly revenue, even as earnings beat forecasts. Deposits and net interest income both fell at PNC.)

$Masimo(MASI.US)$ -28.7% (Masimo plummeted 28% in the premarket after the medical device maker forecast lower than expected sales for its second quarter, as hospitals cut back on equipment spending amid increased personnel costs.)

$Norwegian Cruise(NCLH.US)$  -1.8% (The cruise line operator's stock slid 1.8% in premarket action after Truist downgraded the stock to a hold from a buy. The firm is bullish on cruise industry trends but notes the stock’s recent outperformance.)

$Darden Restaurants(DRI.US)$ initiated at Neutral by Piper Sandler, announced target price at $167.

$CDW Corp(CDW.US)$ initiated at Neutral by Barclays, announced target price at $36.

$UnitedHealth(UNH.US)$ was upgraded by Bernstein from Market Perform to Outperform, increased target price from $595 to $603.

$Pinterest(PINS.US)$ was upgraded by Evercore ISI Group from In-Line to Outperform, increased target price to $41.

$Shopify(SHOP.US)$ was downgraded by Evercore ISI Group from Outperform to In-Line, decreased target price to $69.

$Activision Blizzard(ATVI.US)$ was downgraded by Wells Fargo from Overweight to Equal-Weight, decreased target price to $95.