Wells Fargo, BlackRock Fall Premarket; Pinterest, UnitedHealth Rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, July 15th. Please refresh for updates.
Wells Fargo (NYSE: WFC ) stock fell 0.9% after the lender reported a fall in second-quarter profit as it set aside more money to cover loans that could sour if the economy weakens into a recession.
Pinterest (NYSE: PINS ) stock rose 12% after the Wall Street Journal reported that activist investment firm Elliott Management has taken a 9% stake in the social-media company to become its largest investor.
BlackRock (NYSE: BLK ) stock fell 1.8% after the world’s largest asset manager posted a 30% drop in second-quarter profit as the turmoil in the global markets discouraged investors.
UnitedHealth (NYSE: UNH ) stock rose 1.7% after the health insurer raised its full-year profit forecast for a second straight quarter, buoyed by strong sales at its Optum healthcare services unit.
Amazon (NASDAQ: AMZN ) stock rose 0.6% following a report that U.S. online sales during its Prime Day promotion jumped 8.5% from last year to nearly $12 billion. The online retail giant has also been helped by its moves this week to settle antitrust charges in the EU.
Alibaba (NYSE: BABA ) ADRs fell 0.7% following a report that the Chinese tech giant's cloud division has been summoned by Shanghai authorities in connection with a theft of police data.
Qualcomm (NASDAQ: QCOM ) stock rose 1.2% after Edward Jones upgraded its stance on the chipmaker to ‘buy’ from ‘hold’, saying the recent pullback creates an attractive opportunity.
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