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UnitedHealth Posts Better-Than-Expected Earnings, Joins AngioDynamics, Bank of America And Other Big Stocks Moving Higher On Tuesday

Benzinga ·  Jul 16 23:09

U.S. stocks were mostly higher, with the Dow Jones index gaining around 550 points on Tuesday.

Shares of UnitedHealth Group Incorporated (NYSE:UNH) rose sharply during Tuesday's session following a second-quarter earnings beat.

The company reported adjusted EPS of $6.80, up from $6.14 a year ago, beating the consensus of $6.66, according to data from Benzinga Pro. UnitedHealth's revenues increased nearly $6 billion (+6.4% Y/Y) to $98.86 billion, beating the consensus of $98.34 billion, led by expansion in people served domestically at Optum and UnitedHealthcare.

UnitedHealth Group shares gained 5.7% to $544.96 on Tuesday.

Here are some other big stocks recording gains in today's session.

  • Logistic Properties of the Americas (NYSE:LPA) shares surged 53.8% to $23.71.
  • AngioDynamics, Inc. (NASDAQ:ANGO) shares gained 24.7% to $7.39 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance.
  • Chegg, Inc. (NYSE:CHGG) jumped 15% to $3.6440. Morgan Stanley analyst Josh Baer upgraded Chegg from Underweight to Equal-Weight and lowered the price target from $6.5 to $3.25.
  • 8×8, Inc. (NASDAQ:EGHT) rose 13.3% to $2.8450. 8×8. secured a $200 million term loan at reduced interest rate.
  • Fate Therapeutics, Inc. (NASDAQ:FATE) climbed 12.8% to $4.39.
  • Pacific Biosciences of California, Inc. (NASDAQ:PACB) gained 12.8% to $1.8350. PacBio is expected to hold its quarterly conference call to discuss its second quarter financial results on Wednesday, Aug. 7.
  • Newegg Commerce, Inc. (NASDAQ:NEGG) rose 11.8% to $1.14.
  • Harmony Gold Mining Company Limited (NYSE:HMY) climbed 11.8% to $10.57
  • ServisFirst Bancshares, Inc. (NASDAQ:SFBS) gained 10.8% to $78.60 after the company reported better-than-expected second-quarter financial result. Also, Piper Sandler maintained a Neutral rating on the stock and raised its price target from $63 to $70.
  • Wheels Up Experience Inc. (NYSE:UP) rose 10.3% to $3.98.
  • Janux Therapeutics, Inc. (NASDAQ:JANX) jumped 9.7% to $47.69.
  • Novavax, Inc. (NASDAQ:NVAX) rose 8.1% to $16.34.
  • Match Group, Inc. (NASDAQ:MTCH) gained 7.9% to $34.54 after Starboard Value sent a letter to the company outlining initiatives for improving growth, profitability and capital allocation.
  • Arvinas, Inc. (NASDAQ:ARVN) shares climbed 7.7% to $32.27.
  • Dream Finders Homes, Inc. (NYSE:DFH) rose 7.5% to $30.29.
  • Shopify Inc. (NYSE:SHOP) shares gained 7.3% to $68.92 after B of A Securities upgraded the stock from Neutral to Buy.
  • Tempus AI, Inc (NASDAQ:TEM) rose 7% to $39.15. Tempus expanded immuno-oncology portfolio with the launch of AI-enabled, multimodal immune profile algorithmic tests.
  • Newell Brands Inc. (NASDAQ:NWL) gained 6.7% to $6.70. Newell Brands is expected to release its second quarter 2024 earnings results on Friday, July 26.
  • The Scotts Miracle-Gro Company (NYSE:SMG) rose 5.7% to $65.56.
  • Bank of America Corporation (NYSE:BAC) rose 5% to $43.99 following upbeat quarterly results.
  • American Airlines Group Inc. (NASDAQ:AAL) gained 4.7% to $11.13.

Now Read This:

  • Top 3 Health Care Stocks That Should Keep You Up At Night This Quarter
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