Certainly, there is Biblical support for avoiding (where possible) doing business with such companies, but what about OWNING such a company? Should a Christian OWN a company that produces pornography or participates in the abortion industry?
As stockholders in such companies, Christians ARE owners. Each share of stock represents a proportional ownership interest in the company. Shareholders in a company have bought that company's stock because they have expressed an interest in profiting from the company's business activities.
So, I ask again. Should a Christian OWN stock in such a company? Is it possible to own stock in the porn or casino industries, and at the same time genuinely pray for an end to porn and gambling? What about a company in the abortion business? Can we OWN it and pray for an end to the holocaust that makes it profitable?
You say, "But I just own mutual funds or a variable annuity." Guess what... ownership of shares in a mutual fund or variable annuity represents proportional interest in the underlying stocks - so we remain stockholders in every company that mutual fund holds in it's portfolio. Do you know what you OWN?