Wells Fargo, BlackRock Fall Premarket; Pinterest, UnitedHealth Rise By

© Reuters.

By Peter Nurse

-- 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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