Stocks making the biggest moves premarket: UnitedHealth, Wells Fargo, Pinterest and others
Check out the companies making headlines before the bell:
UnitedHealth (UNH) – The health insurer’s stock rose 1.7% in the premarket after its quarterly earnings and revenue beat forecasts, and it raised its full-year outlook. The company’s results were helped in part by a strong performance at its Optum health care services unit.
Wells Fargo (WFC) – The bank reported quarterly earnings of 74 cents per share, which included an 8-cent equity impairment charge, compared with a consensus estimate of 80 cents. Revenue fell short of Wall Street forecasts during the quarter. Wells Fargo’s profit fell from a year ago as it set aside more money to cover possible bad loans, and the stock fell 1% in premarket trading.
Pinterest (PINS) – The image-sharing company’s stock soared 15.9% in premarket action after the Wall Street Journal reported that activist investor Elliot Management became a major shareholder, accumulating a more than 9% stake.
Rio Tinto (RIO) – The mining company’s stock fell 1.7% in the premarket after it warned that labor shortages in Australia would impact its second-quarter earnings.
BlackRock (BLK) – The asset management firm earned an adjusted $7.36 per share for the second quarter, missing the consensus estimate of $7.90, with revenue also falling short of forecasts. Profit was down 30% from a year ago amid the global market turmoil that discouraged investors. BlackRock fell 1% in premarket trading.
Vertical Aerospace (EVTL) – The maker of electric aviation vehicles saw its stock surge 13.1% in premarket action after it announced a 50-vehicle order from European business jet operator FLYINGGROUP.
Solar stocks – Stocks in solar-related companies fell in the premarket after Democratic Sen. Joe Manchin said he would not support new climate change funding bills. Sunrun (RUN) slid 7.6%, SunPower (SPWR) fell 5%, SolarEdge Technologies (SEDG) lost 3.7% and First Solar (FSLR) fell 3.1%.