Midday trading is seeing shares of several noteworthy companies rise. Morgan Stanley surged more than 6% after releasing second-quarter earnings that were higher than expected; this result was supported by record wealth management revenue. Bank of America saw a 4% increase after reporting second-quarter earnings of 88 cents per share, above Refinitiv's estimate of 84 cents. Charles Schwab jumped 12.6%, fueled by an adjusted earnings of 75 cents per share on $4.66 billion in revenue -- both figures exceeding Refinitiv projections. Microsoft's share price climbed 4%, thanks to major updates with its AI Copilot tool and an expansive partnership with Meta Platforms. Regional banking stocks such as Western Alliance, PacWest, FB Financial, and Zions Bancorporation all rose significantly. UnitedHealth's stock saw an increase of 3.3%, following its upgrade to outperform. Verizon and AT&T were up and down respectively by 2.6% and 0.6%. Bank of New York Mellon gained 4% on its second-quarter profit and revenue report. Shares of Pinterest reached a high not seen since early 2022 and rose 4% due to bettering ad trends. PNC Financial rose 2.5%, reporting EPS of $3.36 and revenue of $5.29 billion. Prologis stock lost 3% after falling short of Refinitiv revenue estimates. Novartis was up 4.6%, with earnings and revenue higher than predicted. Masimo, on the other hand, saw its stock drop 20% after predicting lower-than-expected second-quarter revenue and reducing full-year guidance. Lockheed Martin finished down 3% despite announcing earnings of $6.73.
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