Stocks in focus in pre-market trade Friday:
• Wells Fargo (WFC) stock slumped 3.16% by 8:18 AM ET (12:18 GMT) as it reported a diluted earnings per share of $0.98. Even excluding an income tax expense of $0.10 per share, its EPS missed the consensus forecast for $1.12.
• JP Morgan (JPM) stock advanced 0.11% after second quarter earnings beat consensus on both the top and bottom line.
• Citigroup (C) stock fell 0.98% as second quarter revenue fell 2% to $18.47 billion, below analyst estimates.
• Johnson & Johnson (JNJ) stock sank 2.11% as a Missouri jury ordered the company to pay a record $4.69 billion to 22 women who alleged the company’s talc-based products contain asbestos and caused them to develop ovarian cancer. J&J said it would appeal the verdict which was the result of a “fundamentally unfair process”.
• AT&T (T) stock fell 1.55% after the U.S. Department of Justice appealed its takeover of Time Warner, renewing the government’s antitrust fight against the merger.
• Netflix (NFLX) stock lost 0.54% after India took the company to court over its portrayal of former Prime Minister Rajiv Gandhi.
