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The investment arm of the Mormon church revealed some of its holdings in a 13F filing Wednesday. These are the top 10 holdings of the church's stock portfolio as of March 31. AdvertisementThe Church of Jesus Christ of Latter-day Saints has an investment portfolio of over $100 billion that includes $55 billion invested in publicly traded stocks. AdvertisementThe church, widely known as the Mormon church, reports its stock holdings on a quarterly basis, and a recent 13F filing revealed its top holdings as of March 31. These are the church's top 10 stock holdings at the end of the fourth quarter, as well as the changes in each position.
Persons: , of Jesus Christ, Eli Lilly Vincent Kessler, Seth Wenig, Ethan Miller, Apple Justin Sullivan, Microsoft Satya Nadella, Sean Gallup Organizations: Service, of Jesus, Securities and Exchange Commission, Advisors, Reuters, JPMorgan AP, UnitedHealth, Mastercard Reuters, Nvidia, Microsoft, Getty
CNN —A major US health care system said Thursday that it is diverting ambulances from “several” of its hospitals following a cyberattack this week. The sprawling health care network, which also owns 40 senior living facilities, said that it would be using “downtime procedure for some time,” because of the cyberattack. It was not clear how many Ascension hospitals were sending ambulances to other locations because of the cyberattack. It’s only the latest major hacking incident that has hobbled a big US health care network and sent US officials scrambling to offer support. A February ransomware attack on Change Healthcare, a subsidiary of health care giant UnitedHealth Group, caused billing disruptions at pharmacies across the US and threatened to put some health providers out of business.
Persons: Ascension, cybercriminals, Mandiant, ” Ascension, Andrew, UnitedHealth Organizations: CNN, US, Healthcare, UnitedHealth Locations: St, Louis
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
Of those companies, 73.6% have beaten earnings expectations, FactSet data shows. Investment banks doing well, BofA not so much The major banks that posted results this week — Goldman Sachs , Morgan Stanley and Bank of America — beat earnings expectations. Bank of America shares fell more than 3% despite the company beating on both top and bottom lines. Mixed earnings picture Although nearly three-quarters of the reported earnings so far have topped expectations, the broader earnings picture is more muddled. The blended earnings growth rate, which considers the reports already out and the estimates from those still pending, sits at just 0.16%.
Persons: — Goldman Sachs, Morgan Stanley, Alastair Borthwick, Wells, Mike Mayo, Goliath, Mayo, Goldman Sachs, Wells Fargo's Mayo, Goldman, Ebrahim Poonawala, cyberattack, George Hill, Doug Anmuth, Jessica Reif Ehrlich, Canaccord Genuity, Chris Harvey Organizations: Investment, Bank of America —, Bank of America, Bank of America's, JPMorgan, Wells, of America, Deutsche, Netflix, NFLX's, Revenue, Microsoft, Exxon Mobil
Morgan Stanley — Shares added 3.2% after Morgan Stanley topped first-quarter expectations on wealth management, trading and advisory results. The company reported earnings of $2.02 a share, while analysts polled by LSEG had called for $1.66 a share. Revenue came out at $15.14 billion for the period, surpassing analysts expectations of $14.41 billion. Johnson & Johnson — The stock fell slightly even after the pharmaceutical giant topped quarterly earnings expectations and benefitted from a jump in medical device sales. Revenue came in at $21.38 billion, roughly in line with the $21.4 billion expected by analysts polled by LSEG.
Persons: UnitedHealth, Morgan Stanley —, Morgan Stanley, LSEG, Johnson, Smith, Tesla, Elon Musk, , Samantha Subin, Tanaya Macheel, Michelle Fox Theobald Organizations: Revenue, Wall Street Journal, Justice Department, Ticketmaster, LSEG, Bank of America, Tesla Locations: The, LSEG
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
Revenue of $15.14 billion tops $14.46 billion estimate, and $2.02 in earnings per share (EPS) clears $1.66 estimate. IB revenue better than expected. UnitedHealth Group are earnings better than feared. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Morgan Stanley, Vimal Kapur, Evercore, Uber, Goldman, Jim Cramer's, Jim Cramer, Jim Organizations: Club, Big, WM, Bank of America, Revenues, Johnson, Pharma, Devices, UnitedHealth, Healthcare, Honeywell, Deutsche Bank, Barclays, Tyson, Intel, Qualcomm, Nvidia, Broadcom, Marvell, Texas, Technology, NXP Semiconductors, TAM, Jim Cramer's Charitable, CNBC
UnitedHealth was, by far and away, the biggest Dow stock gainer, up nearly 5% after a nice quarter. Not a Dow stock, but Morgan Stanley was among Tuesday's best S & P 500 performers, and it was also our top portfolio name on the session. 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, Jerome Powell, Powell, it's, Bond, Jeff Marks, Dow, UnitedHealth, Morgan Stanley, Jim Cramer's, Jim Organizations: CNBC, Federal Reserve, Fed, Dow Jones, Nasdaq, Dow, Abbott Laboratories, Procter, Gamble, Constellation Brands, Energy, Jim Cramer's Charitable Locations: Ukraine
UnitedHealth posted better-than-expected first-quarter revenue and reaffirmed its full-year earnings forecast of $27.50 to $28 per share excluding items. Johnson & Johnson — The drugmaker slipped 2% despite beating first-quarter profit estimates and reporting in-line revenue. Johnson & Johnson adjusted its full-year sales forecast for 2024 to a range of $88 billion to $88.4 billion compared to a previous forecast of $87.8 billion to $88.6 billion. The firm also surpassed analysts' earnings and revenue estimates. Bank of America — Charlotte-based Bank of America fell 3.5% after quarterly profit tumbled 18% to $6.67 billion , or 76 cents a share.
Persons: UnitedHealth, Johnson, Morgan Stanley —, Tesla, , Sarah Min, Tanaya Macheel Organizations: Dow Jones, FactSet, Johnson, Technologies, Barclays, Live, Entertainment, Journal, U.S . Department of Justice, Bank of America, of America, Revenue
What history shows: Goldman Sachs beats earnings estimates 85% of the time, according to Bespoke Investment Group. What CNBC is watching: Bank of America shares have struggled lately, losing 5.6% this month as investors reprice rate cut expectations. Morgan Stanley is set to report earnings before the open. United Airlines is set to report earnings after the close. Thursday Netflix is set to report earnings after the close.
Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Goldman, Devin Ryan, Morgan, Ryan, UNH, UnitedHealth, LSEG, UAL, Leslie Josephs, Oppenheimer, Jason Helfstein, Procter & Gamble, Dara Mohsenian, Procter Organizations: Bank of America, Netflix, JPMorgan, CNBC, JMP Securities, Investment, Tuesday Bank of America, UBS, BofA, Dow Jones Industrial, Street, United Airlines, Boeing, Max, Federal Aviation Administration, San Francisco, United, Procter & Locations: Charlotte, San, U.S, China
Conversely, Kilburg is adding to positions that have lagged the market, such as industrial and health-care stocks. "Those are three names that I believe are blue chip, essential names to the U.S. economy," he said. UnitedHealth and other health-care stocks are also trading at a discount, Kilburg said, citing Johnson & Johnson as a potential winner. Buy cyclical names Bailey, formerly a health-care analyst at Legg Mason and Stifel Financial before joining FBB in 2015, expects a hotter-than-forecast inflation report on Wednesday would take stocks lower. The Johns Hopkins MBA also sees the larger, diversified banks as attractive in a climate of higher inflation and interest rates.
Persons: Jeff Kilburg, Kilburg, Mike Bailey, Bailey, payrolls, Lockheed Martin, Johnson, Legg Mason, Berkshire Hathaway, Johns Hopkins, UnitedHealth Organizations: KKM, FBB Capital Partners, Meta, Nvidia, Lockheed, Stifel, FBB, Treasury, Berkshire, Union Pacific, Old Dominion Freight Locations: U.S, McLennan, Progressive, Chevron
PVH — Shares of the Calvin Klein and Tommy Hilfiger parent tanked more than 21% on weak revenue guidance for the first quarter and full year. Humana , UnitedHealth — Health insurance managed care stocks declined after the Center for Medicare and Medicaid Services announced rates for the 2025 calendar year will increase 3.7%, as previously proposed. Humana shed 9.6%, while CVS Health tanked 5.3%. GE Aerospace — General Electric shares ticked higher by 0.6% after the company completed spinning off its energy business from its aerospace business. GE Vernova will begin trading on the New York Stock Exchange at market open under the ticker GEV, while General Electric — which becomes GE Aerospace — will keep the GE ticker symbol.
Persons: Calvin Klein, Tommy Hilfiger, Estee Lauder —, Estee Lauder, Blackstone — Blackstone, , Sarah Min, Hakyung Kim, Jesse Pound Organizations: Center, Medicare, Services, CVS, UnitedHealth, Citi, Blackstone, UBS, Trump Media, Technology, Truth, Bank of America, GE Aerospace — General Electric, GE Vernova, New York Stock Exchange, General, GE Aerospace, GE, SLB Locations: Europe
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. GE Aerospace , GE Vernova : General Electric completed its breakup into three publicly traded companies. Its renewable energy and power unit began trading Tuesday as GE Vernova with the stock ticker GEV. The GE Vernova business "turned out to be far better than I thought," Cramer acknowledged. Cramer's CNBC Investing Club has owned shares of GE Healthcare for nearly a year .
Persons: Jim Cramer's, Jim Cramer, Cramer, Humana, Biden, It's, Tesla, Calvin Klein, Tommy Hilfiger Organizations: CNBC, Club, GE Aerospace, GE Vernova, Electric, GE, Boeing, GE Healthcare, UnitedHealth, Ford, PVH Corp, TJX Companies
Multiple stocks are lagging the market this year, but Wall Street says don't write them off yet — they could soon be due for a turnaround. With this in mind, CNBC Pro screened for stocks in the S & P 500 that might be positioned for a rebound this year. Shares were down 2.3% in 2024 thru the open Wednesday March 27, but the average price target implies around 22% upside potential, according to FactSet. Match was also highlighted as one of Goldman Sachs' favorite asset-light stocks earlier this month. According to the consensus analyst price target, the stock could rise 20.1%, per FactSet.
Persons: financials, Goldman Sachs, Fred Imbert Organizations: CNBC Pro, UnitedHealth, Caesars Entertainment, LSEG, Lines
Investors received another reason to buy shares of Palo Alto Networks , according to Jim Cramer, in light of a cybersecurity incident that has impacted millions of AT & T customers. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance The list of companies making headlines due to cybersecurity incidents is extensive. Palo Alto Networks is our lone cybersecurity holding, even as its formerly red-hot stock has cooled following its Feb. 20 quarterly earnings report . "I do think after speaking with Nikesh that I am very tempted, when this breaks $280, to buy some Palo Alto," he said. In this photo illustration the logo from the cyber security company Palo Alto Networks seen displayed on a smartphone.
Persons: Jim Cramer, didn't, Nikesh Arora, Jim, Arora, Jim Cramer's, Rafael Henrique Organizations: Palo Alto Networks, Club, Microsoft, UnitedHealth, Change, JPMorgan, Palo Alto, Palo, CNBC, Getty Locations: Alto, Palo, U.S, Russian, billings, Palo Alto
The recent cyberattack on the billing and payment colossus Change Healthcare revealed just how serious the vulnerabilities are throughout the U.S. health care system, and alerted industry leaders and policymakers to the urgent need for better digital security. Hospitals, health insurers, physician clinics and others in the industry have increasingly been the targets of significant hacks, culminating in the assault on Change, a unit of the giant UnitedHealth Group, on Feb. 21. The ransomware attack on the nation’s largest clearinghouse, which handles a third of all patient records, had widespread effects. Fixes and workarounds have alleviated some distress, but providers are still unable to collect billions of dollars in payments. Even now, very little information about the exact nature and scope of the attack has been disclosed.
Persons: UnitedHealth Organizations: Healthcare, UnitedHealth Locations: U.S
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
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
Beyond Meat reported fourth-quarter revenue of $73.7 million, versus the $66.7 million consensus estimate, per LSEG, formerly known as Refinitiv. First Solar — Shares added more than 3% after the solar panel manufacturer reported a fourth-quarter earnings beat . Urban Outfitters — The clothing retailer plunged 15% after missing estimates for its fourth-quarter earnings and revenue. Axon Enterprise — The weapons manufacturer popped 14% after reporting a fourth-quarter earnings beat. Novavax — The vaccine maker slid 27% after Novavax missed Wall Street's estimates for its fourth-quarter revenue and earnings .
Persons: Bumble —, Bumble, FactSet, Lemonade, Viatris, LSEG, , Novavax, Axel Springer, Schibsted, — CNBC's Brian Evans, Michelle Fox, Alexander Harring, Pia Singh, Samantha Subin Organizations: Advance, FactSet, eBay, Baidu, U.S . Securities, Exchange Commission, Attorney's, District of Massachusetts, Materials, Urban Outfitters, Boeing —, Federal Aviation Administration, Boeing, Alaska Airlines, Street, Justice Department Locations: U.S, China
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
Photographer: Luke Sharrett/Bloomberg via Getty ImagesShares of Humana plummeted on Thursday after the health insurer issued dismal full-year earnings guidance, citing soaring medical costs that are dogging the broader insurance industry. The guidance adds to Wall Street's concerns about health insurance company profits falling as medical costs jump. UnitedHealth on Friday also reported its own jump in medical costs, though it was less extreme than Humana's. Its forecast dragged down other health insurance stocks. But unlike Humana, the insurer forecast 2024 earnings above estimates on Wednesday, after higher premiums in its commercial business helped control medical costs in the fourth quarter.
Persons: Luke Sharrett, Cigna, Humana Organizations: Humana Inc, Bloomberg, Getty, Humana, CVS Health, Elevance, Medicare Locations: Louisville , Kentucky, U.S
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Apple got an upgrade from Bank of America, which took its rating on the stock to a buy from neutral. 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, Dow, UnitedHealth, Jim, Nelson Peltz, Disney, that's, Bob Iger, Ike Perlmutter, Peltz, Jim Cramer's Organizations: CNBC, Nasdaq, Dow, Humana, Apple, Bank of America, Disney, Marvel Entertainment Locations: Bank
"To us, it looks pretty compelling, [a] pretty consistent business, and it's trading at a discount." Such concerns aren't holding back Bailey's bet on McDonald's as the fast-food giant continues to top investor expectations. MCD 1Y mountain McDonald's shares over the last year "To me, it feels a little overblown. Bailey views Progressive as a "contrarian" play in financials, seeing it gaining share from competitors such as Geico and State Farm. "That's a pretty compelling idea for us."
Persons: Mike Bailey, I've, Bailey, Wall, You've, Wall Street's, Bailey's Organizations: Capital Partners, CNBC, Amazon, Microsoft, UnitedHealth Locations: financials
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