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Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer noted it's been a relatively muted week for economic news and Fed pronouncements. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, it's, Jim, , Jim Cramer's, ABT Organizations: CNBC, Federal Reserve, Dow Jones, Abbott Laboratories, GE Healthcare, GE
We are exiting our position in Bausch Health , selling 2,930 shares at roughly $7.13. In addition, are buying 95 shares of Abbott Laboratories at roughly $104.53 and 125 shares of GE Healthcare at roughly $81. And we are still buying into weakness because shares of Abbott and GE Healthcare are down over the past month. Shares of Abbott have been in the doghouse since March due to litigation concerns for its baby formula business. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer's, Bausch, It's, Jim Cramer, Amneal, Abbott, Johnson, it's, GE Healthcare's, Jim Organizations: Bausch Health, Abbott Laboratories, GE Healthcare, ABT, GEHC, Amneal Pharmaceuticals, Abbott, Johnson, GE, Electric, Disney, Wynn Resorts, WYNN, CNBC Locations: BHC, Bausch's, China, U.S, Bausch
Change Healthcare provides payment, revenue management and other solutions like e-prescription software. UnitedHealth told CNBC in April that it paid a ransom to try and protect patient data. Its business unit Optum — which provides care to 103 million customers — and Change Healthcare — which touches one in three patient records — merged in 2022. Committee Chairman Sen. Ron Wyden, D-Ore., said in his opening remarks that the Change Healthcare breach serves as a "dire warning about the consequences of too-big-to-fail mega-corporations." Sen. Michael Bennet, D-Colo., pressed Witty to share how UnitedHealth is working to ensure something like the Change Healthcare breach will not happen again.
Persons: Andrew, UnitedHealth, Sen, Ron Wyden, Wyden, Thom Tillis, they're, Tillis, Blackcat, Michael Bennet Organizations: Senate, Capitol, U.S ., Finance, UnitedHealth, Healthcare, CNBC, U.S . Securities, Exchange Commission, U.S . Department of Justice Locations: Washington , DC
UnitedHealth Group CEO Andrew Witty on Wednesday told lawmakers that data from an estimated one-third of Americans could have been compromised in the cyberattack on its subsidiary Change Healthcare, and that the company paid a $22 million ransom to hackers. Witty testified in front of the Subcommittee on Oversight and Investigations, which falls under the House of Representatives' Committee on Energy and Commerce. UnitedHealth has previously said the cyberattack likely impacts a "substantial proportion of people in America," according to an April release. UnitedHealth disclosed that a cyberthreat actor breached part of Change Healthcare's information technology network late in February. Witty told both committees Wednesday that UnitedHealth now has MFA in place across all external-facing systems.
Persons: Andrew, UnitedHealth Organizations: UnitedHealth, Healthcare, Representatives, Energy, Commerce, U.S ., Finance Locations: America, bitcoin
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Jim Cramer has said repeatedly the Fed does not need to cut anytime soon. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, Jerome Powell, Jim, Eli Lilly, Eaton, Lilly, We're, McDonald, , Jeff Marks, Jim Cramer's Organizations: CNBC, Dow Jones, Nasdaq, Federal, Fed, GE Healthcare, Constellation Brands, Molson Coors, TAP, Modelo, Corona, Web Services, Microsoft, Starbucks, Jim Cramer's Charitable Locations: China, Will
Change Healthcare offers payment and revenue cycle management tools, and other solutions such as electronic prescription software. On Feb. 21, UnitedHealth Group , which owns Change Healthcare, discovered that hackers compromised part of the unit's information technology systems. UnitedHealth told CNBC earlier this month that there is "no evidence of any new cyber incident at Change Healthcare." It's just one of the ways Change Healthcare touches cash flow within the health-care sector. A controversial mergerSheldon Cooper | Sopa Images | Lightrocket | Getty ImagesUnitedHealth's ownership of Change Healthcare has raised eyebrows from the outset.
Persons: Omar Marques, Dr, Angeli Maun Akey, Akey, she's, UnitedHealth, I've, Andrew, Mike Bradley, Barbara McAneny, McAneny, Sarah Carlson, Carlson, Sheldon Cooper, Optum, Michael Nagle, Tyler Kisling, Kisling, he's, There's, it's, Purvi, Parikh hadn't, they've, Amit Phull, Phull, Igor Golovniov Organizations: Lightrocket, CNBC, Healthcare, UnitedHealth, U.S . Securities, Exchange Commission, Change, Inc, Bloomberg, Getty, U.S, American Medical Association, AMA, U.S . Department of Justice, DOJ, U.S . Department of Health, Human Services, Wall Street, New York Stock Exchange, Change Healthcare Locations: Gainesville , Florida, U.S, Minnetonka , Minnesota, UnitedHealth's, New Mexico, Boulder , Colorado, California, New York City, UnitedHealth
Eli Lilly also hiked its full-year guidance for adjusted earnings and revenue, topping analysts' expectations. 3M – Shares advanced 7.7% after the maker of industrial products posted earnings of $2.39 per share on revenues of $7.72 billion. First-quarter revenue at the Netherlands-based automaker slid 12% due to lower sales plus foreign exchange effects, even as net pricing remained strong. HSBC — HSBC, Europe's largest bank by assets, added 4.2% after the firm beat first-quarter earnings expectations and announced the departure of its Group Chief Executive Officer, Noel Quinn. PayPal saw first-quarter revenue of $7.7 billion, topping analysts' $7.51 billion consensus estimate, according to LSEG.
Persons: Eli Lilly —, Eli Lilly, Meanwehile, Goldman Sachs, Coke, Tesla, Noel Quinn, Yun Li, Jesse Pound, Michelle Fox Theobald Organizations: Chrysler, HSBC — HSBC, GE Healthcare Technologies, GE, PayPal Locations: Chicago, Netherlands, Atlanta, China
GE Healthcare shares sank Tuesday after the company's first-quarter sales and profits fell slightly short of the Wall Street consensus. GE Healthcare Why we own it : GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions in health care. That's what we have to say about this GE Healthcare quarter. This contributed to some of the softness in the first quarter quarter. The GE Healthcare scanner is called the Revolution CT. Martin Schutt | picture alliance | Getty Images
Persons: didn't, GE Healthcare's, , it's, Peter Arduini, Jim Cramer's, Jim Cramer, Jim, Martin Schutt Organizations: GE Healthcare, LSEG, General Electric, Philips, Siemens, GE Healthcare YTD, GE, Management, Alzheimer's, CNBC, Getty Locations: China, Covid, Jena , Germany
Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
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UnitedHealth Group reported better-than-expected revenue in its first-quarter results on Tuesday, though the company is still dealing with the fallout from the cyberattack on its subsidiary Change Healthcare. UnitedHealth reported revenue growth of close to 9% from $91.9 billion in the same period last year. Direct response efforts, like UnitedHealth's effort to restore Change Healthcare platforms, amounted to an impact of 49 cents per share in the quarter. Business disruption costs, like lost Change Healthcare revenue, amounted to 25 cents per share. In 2022, Optum completed a $13 billion merger with Change Healthcare, which offers tools for payment and revenue cycle management.
Persons: UnitedHealth, Optum, Andrew, UnitedHealthcare Organizations: UnitedHealth Group, Healthcare, LSEG, Change, U.S Locations: LSEG, Brazil
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Javers Files: Did Change Healthcare's hackers get double-crossed? Eamon Javers reports on the latest intel from cybersecurity firm Crowdstrike on what happened to United Health's $22 million ransom paid for to recover data from subsidiary Change Healthcare.
Persons: Eamon Javers Organizations: intel, Health's, Change Healthcare
UnitedHealth Group has paid out an additional $1 billion to providers that have been impacted by the Change Healthcare cyberattack since last week, bringing the total amount of funds advanced to more than $3.3 billion, the company said on Wednesday. UnitedHealth, which owns Change Healthcare, discovered in February that a cyber threat actor had breached part of the unit's information technology network. The interruptions left many health-care providers temporarily unable to fill prescriptions or get reimbursed for their services by insurers. Many health-care providers rely on reimbursement cash flow to operate, so the fallout has been substantial. Federal agencies like the Centers for Medicare & Medicaid Services have introduced additional options to ensure that states and other stakeholders can make interim payments to providers, according to a release.
Persons: UnitedHealth, it's, Mandiant, Jamie Raskin, Andrew, Raskin, Biden Organizations: UnitedHealth, Healthcare, SEC, CNBC, American Hospital Association, Medicare, Medicaid Services, U.S . Department of Justice, of State, Wednesday, United Health, Palo Alto Networks, Change Healthcare Locations: Palo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChange Healthcare's $22-million ransom may have been intercepted on the dark webEamon Javers reports on the twists and turns on the dark web, where cybersecurity firm Crowdstrike believes United Healthcare may have lost $22 million after paying cybercriminals, who pocketed the money without sending it to the original hackers.
Persons: Eamon Javers, Crowdstrike, cybercriminals Organizations: Healthcare
UnitedHealth Group said Monday that it's paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare. "We continue to make significant progress in restoring the services impacted by this cyberattack," UnitedHealth CEO Andrew Witty said in a press release. "We know this has been an enormous challenge for health care providers and we encourage any in need to contact us." It also introduced a temporary funding assistance program to help health-care providers experiencing cash flow trouble because of the attack. A survey published by the American Hospital Association on Friday found that 94% of hospitals have experienced financial disruptions from the Change Healthcare attack.
Persons: it's, Andrew, UnitedHealth, Rick Pollack, Biden, UnitedHealth hasn't, Scott Gottlieb Organizations: UnitedHealth, Change Healthcare, Healthcare, Medicare, Medicaid Services, American Hospital Association, Administration, U.S . Department of Health, Human Services, Office, Civil Rights, Palo Alto Networks, Google Locations: Palo
The OCR enforces the Health Insurance Portability and Accountability Act's security, privacy and breach notification rules, which most health plans, providers and clearinghouses such as Change Healthcare are required to follow to protect health information. "OCR's investigation of Change Healthcare and UHG will focus on whether a breach of protected health information occurred and Change Healthcare's and UHG's compliance with the HIPAA Rules," the department said. Change Healthcare offers electronic prescription software and tools for payment and revenue cycle management. Parent company UnitedHealth discovered that a cyber threat actor breached part of the unit's information technology network on Feb. 21, according to a filing with the U.S. Securities and Exchange Commission. In late February, Change Healthcare said that ransomware group Blackcat was behind the attack.
Persons: UnitedHealth, Blackcat Organizations: U.S . Department of Health, Human Services, UnitedHealth Group, Healthcare, U.S, HHS, Civil Rights, Change Healthcare, U.S . Securities, Exchange Commission, CNBC, SEC, Department of Justice
GE Healthcare updates: GE Healthcare CFO Jay Saccaro spoke at Oppenheimer's annual Healthcare MedTech & Services conference. Saccaro expects GE Healthcare to commence stock buybacks at some point, but that's still down the road. GE Healthcare shares fell about 1% Tuesday, but the move doesn't seem tied to the presentation. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jay Saccaro, Saccaro, that's, Jim Cramer's, Jim, Yi Haifei Organizations: CNBC, Oracle, Nvidia, Nasdaq, GE Healthcare, GE, Services, U.S, Jim Cramer's Charitable Trust, Jim Cramer's Charitable, Fair for Trade, China National Convention Center, China News Service, Getty Locations: China, Williams, Sonoma, Beijing
Many observers are arguing that some pockets of the market, mainly in the AI trade, have moved too far, too fast and are ripe for pullbacks. Meanwhile, we'll be keeping an eye on Club holding GE Healthcare's appearance Tuesday at Oppenheimer's MedTech and Services conference. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, industrials, there's, we'll, Oppenheimer's, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Club, Linde, Nasdaq, FMC Corp, Procter, Gamble, Truist, Energy, EQT Corp, Boeing, of Justice, Alaska Airlines, Howmet Aerospace, Tech, Oracle, GE, Services, Jim Cramer's Charitable Locations: Albemarle, Newmont
Cramer's Lightning Round: GE HealthCare can go higher
  + stars: | 2024-03-08 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon GE HealthCare's year-to-date stock performance. Stock Chart Icon Stock chart icon Ares Capital's year-to-date stock performance. Stock Chart Icon Stock chart icon Coherent's year-to-date stock performance. Stock Chart Icon Stock chart icon Pure Storage's year-to-date stock performance. Stock Chart Icon Stock chart icon Manhattan Associates' year-to-date stock performance.
Persons: It's, Ares, I'm, Jim Cramer's Organizations: GE, GE HealthCare, GE Healthcare, Technologies, BWX Technologies, Qualcomm, Ares, Manhattan Associates
UnitedHealth Group on Thursday said it expects to restore Change Healthcare's systems by mid-March, offering a potential resolution to the ransomware attack that has disrupted crucial operations across the U.S. health-care system. There is "no indication" that any other UnitedHealth systems were compromised in the attack, the company said in the release. On Friday, UnitedHealth announced a temporary funding assistance program to help health-care providers that are experiencing cash flow problems as a result of the attack. In late February, Change Healthcare said that ransomware group Blackcat was behind the cybersecurity attack. Ransomware attacks can be particularly dangerous within the health-care sector, as they can cause immediate harm to patients' safety when life-saving systems go dark.
Persons: UnitedHealth, Andrew, Blackcat Organizations: UnitedHealth, Securities and Exchange Commission, Healthcare, U.S . Department of Justice
UnitedHealth Group , Change Healthcare's parent company, is also launching a temporary funding assistance program to help providers manage their "short-term" cash flow needs, the company said. Change Healthcare offers tools for payment and revenue cycle management that help carry out transactions between providers and most major insurance companies. On the site, UnitedHealth said it's establishing a temporary funding assistance program to help providers whose payment distributions have been interrupted. The company added that the program is not meant for providers that are experiencing disruptions to their claims submissions. UnitedHealth recommends using manual workarounds for claims, and said it's working to address the 15% of claims that workarounds cannot address.
Persons: it's, UnitedHealth Organizations: UnitedHealth, SEC, Healthcare
Small private practices and health-care providers are facing mounting financial pressures as crucial reimbursement systems remain down for the ninth day, following the cyberattack on Change Healthcare. Change Healthcare offers tools for payment and revenue cycle management that help facilitate transactions between providers and most major insurance companies. As of Thursday, Change Healthcare has not shared any updates about when it expects its systems to be back online. Change Healthcare on Thursday said that ransomware group Blackcat is behind the attack. He said it's not clear whether Change Healthcare will take on the responsibility of processing all the claims or if he'll need to hire additional staff to help.
Persons: Purvi, hasn't, Parikh, Kiranjit, immunologist, Dan Inder Sraow, it's, Sraow, Dr, Jesse Ehrenfeld, Ehrenfeld, Ravi Parikh Organizations: Healthcare, Change Healthcare, UnitedHealth Group, U.S . Securities, Exchange Commission, CNBC, U.S . Department of Justice, Google, Palo Alto Networks, Kiranjit Khalsa, Khalsa, American Medical Association, UnitedHealth, DOJ, Wall Locations: New York City, Scottsdale , Arizona, Phoenix , Arizona, U.S
Traders work at the post where UnitedHealth Group is traded on the floor of the New York Stock Exchange. The company said it's working with Mandiant, which is owned by Google , and cybersecurity software vendor Palo Alto Networks . In a since-deleted post on the dark web, Blackcat said Wednesday that it was behind the attack on Change Healthcare's systems. Change's parent company UnitedHealth Group said it discovered that a cyber threat actor breached part of the unit's information technology network on Feb. 21, according to a filing with the SEC. Brett Callow, a threat analyst at the cybersecurity company Emsisoft, said ransomware groups will often make posts like these in an effort to bring victims to the negotiating table.
Persons: that's, Blackcat, Brett Callow, Emsisoft, Callow, they're, UnitedHealth, John Riggi, Riggi Organizations: New York Stock Exchange, Healthcare, CNBC, Google, Palo Alto Networks, UnitedHealth, SEC, U.S . Department of Justice, Change Healthcare, American Hospital Association Locations: U.S
COST 5Y mountain Costco's stock performance over the past five years. DHR 5Y mountain Danaher's stock performance over the past five years. ETN 5Y mountain Eaton Corp.'s stock performance over the past five years. "The megatrends are real serious, and [Eaton] is a real serious company," Jim said. TJX 5Y mountain TJX Companies' stock performance over the past five years.
Persons: Jim Cramer, Jeff Marks, Morgan Stanley, Wall, Beijing's, Jim, Eaton, Linde, Lilly's, Eli Lilly, We've, Zepbound, Mark Zuckerberg's, Mark Zuckerberg, OpenAI, Copilot, management's, Nvidia, TJ Maxx, TikTok, Gen Zers, TJX, Jim Cramer's, Satya Narayana Nadella, Lucas Jackson Organizations: GE Healthcare, Meta, Microsoft, Johnson, Natural Resources, Starbucks, Apple, Apple Music, Services, Amazon, Amazon Web Services, Prime, Costco, Danaher, Eaton Corp, Investors, GE, LIN, Novo Nordisk's Wegovy, Novo Nordisk, Management, Nvidia, TJX Companies, Marshalls, CNBC Locations: Eaton, China, Manhattan, New York City
Change Healthcare's systems are down for the seventh day after a cyber threat actor gained access to its network last week. Change Healthcare offers tools for payment and revenue cycle management, and its system outages have disrupted operations in pharmacies and health systems across the country. Change Healthcare merged with Optum in 2022. Rising number of health-care cyberattacksThe attack on Change Healthcare comes after 2023 set a grim record for health-related cybercrime. Impact of Change Healthcare's breachUnitedHealth has not specifically disclosed exactly which Change Healthcare systems have been affected, but the fallout from the cyberattack has caused a ripple of problems across the U.S. health-care system.
Persons: UnitedHealth, John Riggi, Riggi, Cliff Steinhauer, Steinhauer, Cary Brazeman, Brazeman, hadn't Organizations: New York Stock Exchange, UnitedHealth Group, U.S . Securities, Exchange, Change Healthcare, Change, Optum, Healthcare, Palo Alto Networks, Google, CNBC, American Hospital Association, National Cybersecurity Alliance, CVS Health, Walgreens Locations: U.S, Palm Springs
Change Healthcare's systems are down for a fourth straight day after parent company UnitedHealth Group disclosed that a suspected cybersecurity threat actor gained access to part of its information technology network on Wednesday. UnitedHealth, the biggest health-care company in the U.S. by market cap, owns the health-care provider Optum, which merged with Change Healthcare in 2022. Optum services more than 100 million patients in the U.S., according to its website, and Change Healthcare offers solutions for payment and revenue cycle management. ET Saturday, Change Healthcare said the disruption is expected to continue "at least" through the day. The AHA declined to comment on the Change Healthcare cyberattack.
Persons: UnitedHealth, We're, CISA Organizations: UnitedHealth Group, Healthcare, U.S . Securities, Exchange Commission, CNBC, CVS Health, CVS, American Hospital Association, AHA, Department of Health, Human Services, FBI, Infrastructure Security Agency, HHS Locations: U.S
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