Check out the companies making headlines before the bell:
United Health (UN) — The health insurer’s stock rose 1.7% in the pre-market after its quarterly earnings and revenue beat expectations, and it raised its full-year forecast. The company’s results were helped in part by the strong performance in the Optum Healthcare Services unit.
Wells Fargo (WFC) — The bank reported quarterly earnings of 74 cents a share, which included an 8 percent impairment charge, compared to a consensus estimate of 80 cents. Revenue was below Wall Street expectations during the quarter. Wells Fargo’s earnings are down from a year ago as it set aside more money to cover potential bad loans, and the stock is down 1% in pre-market trading.
Pinterest (PINS) — The photo-sharing company’s stock rose 15.9% in pre-market activity after the Wall Street Journal reported that activist investor Elliott Management has become a major shareholder, accumulating more than 9% of the stock.
Rio Tinto (Rio) — The miner’s stock fell 1.7% in the primary market after it warned that a labor shortage in Australia will weigh on its earnings in the second quarter.
Black stone (BLK) – The asset manager earned $7.36 per share for the second quarter, missing the consensus estimate of $7.90, with revenue also lower than expectations. Profits are down 30% from last year amid global market turmoil that has frustrated investors. BlackRock was down 1% in pre-market trading.
vertical space (EVTL) – The electric aeronautical vehicle manufacturer saw its inventory rise 13.1% in pre-market activity after it announced an order for 50 vehicles from European business jet operator FLYINGGROUP.
Solar Stocks – Shares in solar-related companies tumbled in the primary market after Democratic Senator Joe Manchin said he would not support new climate change financing bills. sunron (RUN) slipped 7.6%, The power of the sun (SPWR) down 5%, SolarEdge Technologies (SEDG) lost 3.7% and First Solar FSLR shares fell 3.1%.
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