Stocks making the biggest moves premarket: UnitedHealth, Wells Fargo, Pinterest and others

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%.



Source

Goldman Sachs is piloting its first autonomous coder in major AI milestone for Wall Street
Finance

Goldman Sachs is piloting its first autonomous coder in major AI milestone for Wall Street

Key Points Goldman is testing an autonomous software engineer from artificial intelligence startup Cognition that is expected to soon join the ranks of the firm’s 12,000 human developers, Goldman tech chief Marco Argenti told CNBC. The program, named Devin, became known in technology circles last year with Cognition’s claim that it had created the world’s […]

Read More
Fed considering changes to what constitutes a ‘well-managed’ bank
Finance

Fed considering changes to what constitutes a ‘well-managed’ bank

The Federal Reserve building is seen before the Federal Reserve board is expected to signal plans to raise interest rates in March as it focuses on fighting inflation, in Washington, D.C., on Jan. 26, 2022. Joshua Roberts | Reuters The Federal Reserve is taking another step toward easing regulation for big financial institutions, this time […]

Read More
Stocks making the biggest moves midday: MP Materials, Delta Air Lines, WK Kellogg, Hertz & more
Finance

Stocks making the biggest moves midday: MP Materials, Delta Air Lines, WK Kellogg, Hertz & more

Check out the companies making the biggest moves midday: MP Materials — The rare earth miner soared more than 47% after the company announced the Defense Department would buy $400 million in preferred stock . “We remain a thriving public company. We now have a great new partner in our economically largest shareholder, DoD, but […]

Read More