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UnitedHealth Reports Upbeat Earnings, Joins Cullinan Oncology, Ericsson And Other Big Stocks Moving Higher On Tuesday

Author: Avi Kapoor | April 16, 2024 10:15am

U.S. stocks were mostly higher, with the Dow Jones index gaining over 100 points on Tuesday.

Shares of UnitedHealth Group Incorporated (NYSE:UNH) rose sharply during Tuesday’s session following better-than-expected first-quarter earnings.

The company reported adjusted EPS of $6.91, up from $6.26 a year ago, beating the consensus of $6.62. UnitedHealth’s revenues increased nearly $8 billion to $99.8 billion, beating the consensus of $99.3 billion, according to data from Benzinga Pro.

UnitedHealth Group shares surged 6.2% to $473.20 on Tuesday.

Here are some other big stocks recording losses in today’s session.

  • Macatawa Bank Corporation (NASDAQ:MCBC) shares jumped 38.8% to $13.78 after Wintrust Financial Corporation (NASDAQ:WFTC) and Macatawa Bank announced that they have entered into a definitive merger agreement for Wintrust to acquire Macatawa in an all-stock transaction.
  • Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) rose 24.1% to $80.39 after the company announced Lumateperone 42 mg once daily as adjunctive therapy to antidepressants met its primary endpoint.
  • Cullinan Oncology, Inc. (NASDAQ:CGEM) gained 20.4% to $19.93. The company announced its plan to expand into autoimmune diseases.
  • NextNav Inc. (NASDAQ:NN) shares jumped 13.1% to $7.98.
  • Alignment Healthcare, Inc. (NASDAQ:ALHC) rose 7.1% to $5.05. Alignment Healthcare is expected to release its first quarter 2024 financial results on May 2, after the closing bell.
  • Kenon Holdings Ltd. (NYSE:KEN) gained 7% to $21.04.
  • Contineum Therapeutics, Inc. (NASDAQ:CTNM) climbed 6.1% to $15.50.
  • Global Blue Group Holding AG (NYSE:GB) gained 5.6% to $5.14.
  • Super Micro Computer, Inc. (NASDAQ:SMCI) rose 5.4% to $930.00. Loop Capital analyst Ananda Baruah maintained Super Micro Computer with a Buy and raised the price target from $600 to $1,500.
  • Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) gained 4.7% to $5.01 after the company reported better-than-expected first-quarter EPS results.

 

Now Read This: Top 4 Tech Stocks You May Want To Dump In April

Posted In: ALHC CGEM CTNM ERIC GB ITCI KEN MCBC NN SMCI UNH WFTC


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