DIRS.INFO The most relevant business & tech news

☆ Explainer: What you need to know about RSV and the new vaccines
▼ + stars: | 2023-09-22 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

That Pfizer (PFE.N) shot and one developed by GSK (GSK.L) in May became the first two RSV vaccines to win U.S. approval, for use in people aged 60 and over to prevent severe illness. Still, infants and older adults have a higher risk of developing severe RSV. RSV leads to 58,000 to 80,000 hospitalizations among children under age 5, and 60,000 to 160,000 hospitalizations among adults age 65 and older each year, according to the CDC. Early data suggests that the RSV shots are protective for at least two years, but it is not yet clear how often older adults will need to be revaccinated. Can I get the RSV shot alongside my COVID and flu shots?

Persons: Pfizer's, Synagis, it's, Jeffrey Duchin, you've, Michael Erman, Bhanvi, Caroline Humer, Bill Berkrot Organizations: . Centers for Disease Control, Prevention, Pfizer, GSK, CDC, FDA, Sanofi, AstraZeneca, Infectious Diseases Society of America, CVS, Humana, Thomson Locations: U.S, Aetna, New York, Bengaluru Edtiting

Benefit consultants from Mercer, Aon (AON.N) and Willis Towers Watson (WTW.O) see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and wider availability of high-priced gene therapies. Benefit consultants help design insurance plans for medium and large employers. About two-thirds of U.S. workers receive benefits through such plans.Insurers UnitedHealth (UNH.N), Centene (CNC.N), Cigna (CI.N) and Elevance (ELV.N), which manage employer insurance plans, declined to comment for this story. Of its projected 8.5% increase in employer healthcare costs for next year, Aon anticipates 1 percentage point coming from weight-loss drugs alone. Gene therapy treatment of just one employee could significantly raise costs for a company, consultants said.

Persons: Srdjan, Willis Towers Watson, Mercer, Marsh McLennan, Beth Umland, Aon, Novo's Ozempic, Eli Lilly's, Janet Faircloth, Jodi Picoult's, Khushi Mandowara, Leroy Leo, Caroline Humer, Bill Berkrot Organizations: U.S, REUTERS, Reuters Graphics, Novo, Reuters, Employers, Thomson Locations: Ljubljana, Mercer, Aon, United States, Bengaluru

☆ The top 10 companies hiring for hybrid jobs right now—they’re not all in tech
▼ + stars: | 2023-09-12 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

Hybrid work continues to be the popular choice among employees. To help people find the best hybrid opportunities, FlexJobs identified the top 100 companies hiring for hybrid jobs in 2023. These companies had the highest number of hybrid job openings on FlexJobs in the last year, and are considered to be strong prospects for hybrid job seekers through at least the end of 2023. Here are the top 10 companies hiring for hybrid jobs in 2023, according to FlexJobs, along with the full list of the top 100 companies here. Other popular career fields for hybrid jobs are computer/IT, marketing and project management.

Persons: What's, FlexJobs, Robert Half, Kelly Lee Hecht Harrison, Aston, Toni Frana, Kelly, Robert, Lee Hecht Harrison Organizations: Meta, Deloitte, Financial, Elevance, Allied Irish Bank, AIB, Aston Carter Lincoln Financial, Robert Half International Locations: FlexJobs, York

☆ The Investing Club's top 10 things to watch in the stock market Wednesday
▼ + stars: | 2023-08-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Citigroup maintains a buy rating on Club name Apple (AAPL) ahead of its Sept. 12 product event, while reiterating a $240-per-share price target on the stock. As ever, Apple is an "own it, don't trade it" stock ahead of the product launch. Morgan Stanley downgrades Centene (CNC) to equal weight, from overweight, while lowering its price target on the stock to $73 a share, down from $94. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, —, Johnson, Morgan Stanley downgrades Centene, Morgan Stanley, Bernstein, James Hollingshead, Wolfe, BUD, Bud Light, KeyBanc, Jim Cramer's, Jim Cramer, Jim Organizations: ADP, Federal Reserve, Labor, Citigroup, Apple, Citi, FedEx, Health, Humana, Bernstein downgrades Texas, Wolfe Research, NFL, Anheuser, Busch InBev, Molson Coors Beverage, Constellation Brands, Google, Club, Nvidia, HP Inc, Jim Cramer's Charitable, CNBC Locations: U.S

☆ D1 Capital slashes big tech holdings and adds new bet on hotels, real estate
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Sundheim also added 59% to a position in Jack Dorsey's Block in the second quarter, now worth $101 million. D1 also exited its position in tech giants Amazon , Alibaba and Salesforce in the second quarter, the filing showed, and sold 21% of a stake in Google parent Alphabet. Meanwhile, D1 added new semiconductor holdings. Elsewhere, D1 added to positions in General Electric , Insulet and Elevance Health . The firm managed about $27 billion at the end of the second quarter, according to WhaleWisdom.com , including about $5 billion in 13F securities.

Persons: Dan Sundheim's, Sundheim, Jack Dorsey's Block Organizations: Capital Partners, U.S . Securities, Exchange Commission, Facebook, Microsoft, AMD, Nvidia, General Electric, Elevance Health, Nation Entertainment Locations: Hilton

☆ Morgan Stanley says buy 'top’ stocks like Apple to fight the growing market malaise
▼ + stars: | 2023-08-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Investors may be feeling some market indigestion in August, but Morgan Stanley said there are still top stocks to buy settle down portfolios. CNBC Pro combed through recent Morgan Stanley research to find the well positioned stocks for August. In particular, Morgan Stanley said it's impressed by Keurig's commitment to improve coffee fundamentals. Morgan Stanley gave several reasons in its earnings reaction note as to why CBOE is well-positioned as a top pick. Howmet Aerospace Meanwhile, shares of Howmet Aerospace are up over 25% this year, but the stock has plenty more room to run, according to Morgan Stanley.

Persons: Morgan Stanley, Dr Pepper, Dara Mohsenian, Mohsenian, it's, Keurig's, Michael Cyprys, Cyprys, Kristine Liwag, Howmet, Liwag, Pepper Organizations: CNBC, CBOE, Chicago, Howmet, Howmet Aerospace, Airbus, Boeing, Commercial Locations: Europe, 2H23

☆ Buy these high-quality stocks as macro backdrop remains uncertain, Bernstein says
▼ + stars: | 2023-08-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Amid an unpredictable macro environment, quality stocks are well-positioned to outperform, according to Bernstein. "High Quality stocks are attractive against an uncertain macro backdrop. She added that quality stocks trading at a reasonable price perform similarly to quality shares unfiltered for valuation. Given this backdrop, Bernstein compiled a list of stocks that meet its quality at a reasonable price basket. Despite the strong tech rally in 2023, Microsoft and Meta made the list of quality stocks trading at a reasonable price.

Persons: Bernstein, Sarah McCarthy, McCarthy, Morgan Stanley, — CNBC's Michael Bloom Organizations: Microsoft, Meta, UnitedHealth

☆ These 'uber crowded' trades from hedge funds are up nearly 30% this year, according to Jefferies
▼ + stars: | 2023-08-01 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge funds and other professional investors' favorite bets are crushing the market, posting a near 30% rally this year, according to Jefferies. The Wall Street firm looked at recent regulatory filings from hedge funds and long-only fund managers and found the most-popular holdings among both groups, calling them "uber crowded" trades. A number of stocks tied to artificial intelligence showed up in the "uber crowded" portfolio. Alphabet is also well-loved by hedge funds and long-only mutual funds. Software company Adobe and health care name Elevance Health are also on the list of crowded trades.

Persons: Jefferies, Bill Ackman, Stanley Druckenmiller, Dan Loeb Organizations: Microsoft, OpenAI, Nvidia, YouTube, Adobe

☆ Morgan Stanley names this health insurance stock a top pick, sees more than 20% upside
▼ + stars: | 2023-07-25 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Morgan Stanley thinks it's time to buy shares of Elevance Health . The bank listed the stock as a top pick in a Tuesday note and reiterated an overweight rating on it. Morgan Stanley's $585 price target implies roughly 24% upside from Monday's $471.16 close. Morgan Stanley analyst Michael Ha said the health insurance company can shine in the broader field of managed care and forecasted as much as 15% growth in earnings per share next year. ELV YTD mountain Elevance Health stock has slumped more than 8% so far this year.

Persons: Morgan Stanley, Morgan Stanley's, Michael Ha, Ha, — CNBC's Michael Bloom Organizations: Elevance Health

☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Costco, Nike, Imax, Walmart, Meta & more
▼ + stars: | 2023-07-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: UBS reiterates Nike as buy UBS said it's getting incrementally bullish on the stock and that it could double. " BTIG upgrades Zscaler to buy from neutral BTIG said its checks on the IT stock have been "consistently positive." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating heading into Apple earnings next week. Goldman Sachs reiterates Apple as buy Goldman said it's standing by its buy rating heading into earnings next week. Morgan Stanley names Elevance a top pick Morgan Stanley named the health insurance provider as a top pick and said it sees further earnings per share growth.

Persons: it's, Morgan Stanley, Apple, Piper Sandler, Wells, Goldman Sachs, Goldman, Mizuho, Oppenheimer, TSCO, Citi downgrades Goldman Sachs, TD Cowen, Wolfe, Baird, HWM, Elevance, Comm, Flywire Organizations: UBS, Nike, Apple, Walmart, Piper, Signet, Superior Unit, Costco, Citi, adv, 2Q, Meta, Digital Ad, Bank of America downgrades, Supply, Bank of America, HSBC, Zynga, Disney, Mizuho, Howmet Aerospace, Airbus Locations: Wells Fargo, 2Q23

As corporate earnings season reaches its peak in the coming weeks, Morgan Stanley advises traders to look for certain stock plays. Morgan Stanley chief equity strategist Mike Wilson said in a Monday note that he expects "performance dispersion to rise" as more companies report their earnings. Wilson recommends investors choose stocks that exhibit high earnings quality, strong free cash flow generation and improving earnings revision. Nonetheless, more than 90% of analysts covering the stock rate it a buy, according to Refinitiv. The company is set to report earnings Tuesday before the bell.

Persons: Morgan Stanley, Mike Wilson, Wilson, Morgan, Morgan Stanley's, Dara Mohsenian, — CNBC's Michael Bloom Organizations: Dow Jones, Microsoft, Chevron, ExxonMobil, Health, UnitedHealth, Humana, Elevance, Dow, Health Care, SDPR Fund, Mobile, General Motors, GM, Colgate, Palmolive, Comcast, CNBC Locations: U.S, NBCUniversal

☆ Johnson & Johnson beats on earnings, hikes full-year guidance as medtech sales surge
▼ + stars: | 2023-07-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Johnson & Johnson on Thursday reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations, and lifted its full-year guidance as sales from the company's medtech business jumped. That compares with a net income of $4.8 billion, or $1.80 per share, for the same period a year ago. Excluding certain items, adjusted earnings per share were $2.80 for the period. J&J is now forecasting full-year sales of $98.80 billion to $99.80 billion, about $1 billion higher than the guidance provided in April. The company raised its 2023 adjusted earnings outlook to $10.70 to $10.80 per share, from a previous forecast of $10.60 to $10.70 per share.

Persons: Johnson Organizations: UnitedHealth, Elevance, Refinitiv

The S&P 500 banking index (.SPXBK) added 1.5%, but was still down 1.8% this year in the aftermath of a banking crisis that took down three lenders and pummeled the regional banking sector. The benchmark S&P 500 index (.SPX) has notched a 19.2% gain in the same period. Elevance Health (ELV.N) advanced 5.1% and was among top gainers on the S&P 500 after the health insurer forecast an upbeat annual profit. Halliburton(HAL.N) shed 2.8% after posting disappointing quarterly revenue, while Baker Hughes(BKR.O) edged up 0.5% after beating quarterly earnings expectations. The S&P index recorded 36 new 52-week highs and no new lows, while the Nasdaq recorded 117 new highs and 42 new lows.

Persons: Goldman, Goldman Sachs, Mike Loewengart, Dow, Baker Hughes, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: T Bank, Dow, Nasdaq, Big, Morgan Stanley Global Investment, Citizens, U.S, U.S . Federal, US Bancorp, Dow Jones, Netflix, IBM, Verizon, Elevance, Halliburton, NYSE, Thomson Locations: Big U.S, U.S ., Minneapolis, Bengaluru

Big U.S. lenders rallied on Tuesday after they said higher interest rates had helped boost profits in the second quarter. The S&P 500 banking index (.SPXBK) has fallen 3.4% this year in the aftermath of a banking crisis that took down three lenders and pummeled the regional banking sector. The benchmark S&P 500 index (.SPX) has notched an 18.6% gain in the same period. Among other lenders, Citizens Financial(CFG.N) and M&T Bank(MTB.N) beat Wall Street estimates for second-quarter profit, benefiting from the U.S. Federal Reserve's rapid rate hikes. ET, Dow e-minis were up 7 points, or 0.02%, S&P 500 e-minis remained unchanged, and Nasdaq 100 e-minis were up 22.5 points, or 0.14%.

Persons: Goldman Sachs, Goldman, Dennis Dick, noteholders, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: T Bank, Dow, Nasdaq, Street, Big, Triple D, Citizens, U.S, U.S . Federal, Dow e, Credit Suisse, Netflix, IBM, Microsoft, Verizon, Elevance, VMware, Federal Reserve, Thomson Locations: Big U.S, U.S ., Bengaluru

☆ Stocks making the biggest moves midday: Carvana, Goldman Sachs, AT&T and more
▼ + stars: | 2023-07-19 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Goldman Sachs — The banking titan advanced 1.6% despite missing expectations of analysts polled by Refinitiv for earnings and revenue. The company beat expectations for earnings expectations by one cent at $1.81 per share. Elevance Health — The stock rose 6% after Elevance Health beat analysts' expectations on the top and bottom lines in its second-quarter results. J.B. Hunt Transport Services — The transportation and logistics stock rose 1.5% despite a disappointing quarterly report. Qualcomm — Shares rose 2.8% after JPMorgan added the stock to its focus list and said it's one of the firm's best growth idea.

Persons: Goldman Sachs, Refinitiv, Goldman, Elevance, J.B, Hunt, Charles Schwab —, ServiceNow, —, Samantha Subin, Hakyung Kim, Sarah Min, Jesse Pound, Michelle Fox, Yun Li Organizations: Joby, JPMorgan, FactSet, Elevance Health, Revenue, Trust, Refintiv, Hunt Transport Services, Refinitiv, Western, Street Journal, U.S . AT, Argus, Qualcomm, Cisco —, Cisco, Bank of America Locations: FactSet, Tahoe

☆ Morning Bid: Big Tech weighs in, UK relieved
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. REUTERS/Mike Blake/File PhotoJuly 19 (Reuters) - A look at the day ahead in U.S. and global markets from Mike DolanJuly is heating up and cooling down at the same time - and it's not just the extraordinary weather. Red-hot, Big Tech mega caps that have driven Wall St stocks to their highest in more than year start to clock second-quarter updates later on Wednesday, while world markets were buoyed again as Britain finally starts to join the disinflation club. Tesla and Netflix - both part of New York's 10-stock FANG+TM index (.NYFANG) of leading tech and digital giants that has almost doubled so far this year - will report after the bell on Wednesday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Blake, Mike Dolan, it's, Goldman Sachs, Morgan Stanley, Tesla, Kinder Morgan, Baker Hughes, Bernadette Baum Organizations: REUTERS, Big Tech, Netflix, IBM, United Airlines, Halliburton, T Bank, Northern Trust, Zions Bancorp, US Bancorp, Citizens Financial, Nasdaq, Discover Financial, Steel Dynamics, U.S, Treasury, Reuters Graphics Reuters, Reuters, Thomson Locations: Los Angeles , California, U.S, Britain, New, United

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

July 14 (Reuters) - UnitedHealth Group's (UNH.N) quarterly profit beat Wall Street estimates on Friday as a smaller-than-expected jump in medical costs allayed fears that a resumption in long-delayed surgical procedures would hit profit growth, sending its shares up 5%. The beat from the industry bellwether lifted the shares of rivals Humana (HUM.N), Cigna (CI.N), CVS Health (CVS.N) and Elevance Health (ELV.N) between 2% and 5%. Chief financial officer John Rex said the company expects medical costs for the third quarter to be "a little bit lower" compared to the second quarter. UnitedHealth's profit of $6.14 per share for the second quarter beat analysts' expectations of $5.99, according to Refinitiv. Reporting by Bhanvi Satija and Raghav Mahobe in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: John Rex, Stephens, Scott Fidel, UnitedHealth, Humana, Bhanvi Satija, Pooja Desai Organizations: Wall, Humana, CVS Health, Elevance, Health, Medicare, Thomson Locations: Bengaluru

☆ Stocks making the biggest moves midday: UnitedHealth, JPMorgan Chase, Microsoft, JetBlue and more
▼ + stars: | 2023-07-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

JPMorgan Chase — Shares fell slightly even after the bank reported stronger-than-expected results for the second quarter, as it benefited from higher interest rates and better-than-expected bond trading. Wells Fargo — Wells Fargo shares rose slightly after the Wall Street firm topped second-quarter expectations. The Wall Street firm also said AT&T's exposure to cable may limit the upside for shares. Alcoa — The aluminum stock fell 4.9% following a downgrade to neutral from overweight by JPMorgan. Eli Lilly — The pharmaceutical stock rose 3% in midday trading.

Persons: JPMorgan Chase, Wells, UnitedHealth, Eli Lilly, Yun Li, Alex Harring, Sarah Min, Michelle Fox Organizations: JPMorgan, JPMorgan Chase —, Elevance, Citigroup —, JetBlue Airways, American Airlines — JetBlue Airways, American Airlines, Microsoft, UBS, Blackrock —, Alcoa, Progressive Locations: Wells, York

☆ UnitedHealth falls on warning of higher medical costs, drags down rivals
▼ + stars: | 2023-06-14 | by ( Leroy Leo | ) www.reuters.com time to read: +2 min

The warning also dragged down shares of rival health insurers that largely benefited from delayed non-urgent surgeries such as hip and knee replacements and hospital staffing shortages that had further led to fewer procedures. UnitedHealth, at a Goldman Sachs healthcare conference, highlighted elevated demand for outpatient medical procedures, particularly related to knees and hips, from patients in Medicare health plans meant for those aged 65 and above. UnitedHealth also expects its full-year medical loss ratio at the upper end of its forecast. UnitedHealth's 18.51 forward 12-month price-to-earnings ratio - a common benchmark for valuing stocks - is higher than rival Cigna Corp's (CI.N) 10.29 and CVS Health Corp (CVS.N) 8.26. Shares of Humana Inc (HUM.N) fell 7%, while Elevance Health and CVS Health Corp's (CVS.N) fell more than 3% each in premarket trading.

Persons: Goldman Sachs, Tim Noel, UnitedHealth, Julie Utterback, Cigna Corp's, Leroy Leo, Shinjini Organizations: UnitedHealth, Goldman, CVS Health Corp, Humana Inc, Elevance, CVS Health, Thomson Locations: Bengaluru

REUTERS/Mike Blake/File Photo/File PhotoJune 14 (Reuters) - Health insurer stocks dropped sharply on Wednesday after UnitedHealth Group (UNH.N) said costs were on the rise for the largest U.S. healthcare provider by market value due to an increase in surgeries among older adults. Shares of industry bellwether UnitedHealth fell 7.3% to $455.11, wiping out roughly $42 billion from the company's market capitalization in the current trading session. Meanwhile, stocks of medical device makers and hospital operators rose, as increased frequency of surgeries mean more revenue for them. The company highlighted strong demand for hip and knee procedures at outpatient centers, as well as for home health services and behavioral services. Elevance Health (ELV.N), CVS Health Corp (CVS.N), Centene Corp (CNC.N) and Cigna Group (CI.N) fell between 6% and 7.5%.

Persons: Mike Blake, bellwether, UnitedHealth, Jefferies, Brian Tanquilut, Zimmer Biomet, Leroy Leo, Bhanvi, Manas Mishra, Shinjini Organizations: REUTERS, UnitedHealth, Medicare, Humana Inc, Reuters Graphics, Elevance, CVS Health Corp, Centene Corp, Cigna, Elevance Health Inc, CVS, Healthcare, Tenet Healthcare, Stryker, Thomson Locations: Santa Ana , California, U.S, Bengaluru

☆ One of America's biggest health insurers just issued a warning that healthcare costs are about to soar
▼ + stars: | 2023-06-14 | by ( Lydia Ramsey Pflanzer | ) www.businessinsider.com time to read: +2 min

An insurance exec warned of higher medical costs as Americans start to get more elective procedures. It suggests people are getting care they put off during the height of the pandemic. Older Americans are starting to get more procedures like hip and knee surgeries, and it's driving up how much one of the biggest US health insurers is spending on medical care. The "strong" level of care older Americans are seeking out suggests that people are getting more comfortable getting procedures they put off during the pandemic, the UnitedHealth Group executive said. The stocks of health insurance companies tumbled on Wednesday following the warning.

Persons: John Rex, Goldman, Jodi Jacobson, Stryker, Medtronic Organizations: UnitedHealth, UnitedHealth Group, CVS Health, Tenet Locations: Goldman Sachs, Aetna

☆ Health insurance stocks slide after UnitedHealth warns more surgeries will drive up medical costs
▼ + stars: | 2023-06-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Health insurer stocks dropped on Wednesday after UnitedHealth Group warned of higher medical costs as older Americans start to catch up on surgeries they delayed during the Covid pandemic. Shares of UnitedHealth, the largest U.S. healthcare provider by market value, closed around 6% lower. Elevance Health closed roughly 7% lower, and CVS Health , which owns the insurer Aetna, slid nearly 8%. The company has recorded "strong outpatient care activity" throughout April, May and the early part of June, CFO John Rex said at a Goldman Sachs healthcare conference. Shares of medical device manufacturers Medtronic and Stryker jumped 2.5% and 4%, respectively, after UnitedHealth's remarks.

Persons: UnitedHealth, John Rex, Goldman Sachs, Medicare enrollees, Rex, Timothy Noel, Stryker, UnitedHealth's Organizations: UnitedHealth, Medicare, Humana, Elevance Health, CVS Health, Aetna, Insurance, Goldman, Healthcare, Tenet Healthcare

☆ Dan Sundheim's D1 buys this large regional bank stock, trims tech holdings in first quarter
▼ + stars: | 2023-05-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Dan Sundheim's D1 Capital Partners bet on PNC Financial Services as turmoil unraveled across banks in the first quarter. The hedge fund, founded in 2018, opened a $43-million stake in the Pittsburgh-based regional bank in the first quarter, which saw the collapse of Silicon Valley Bank and Signature Bank in March, according to securities filings. D1 also made new bets on the healthcare sector, opening new positions in UnitedHealth and Danaher , and a stake worth at least $314 million in Elevance Health . While technology stocks rebounded during the first quarter, and investors gravitated back toward beaten-up growth stocks as bonds yields offered some relief, D1 reduced its exposure to some popular names. D1 managed roughly $27.6 billion in assets at the end of March, according to securities filings.

☆ Insurer Humana lifts profit view as medical costs drop in govt plans
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Humana Inc (HUM.N) raised its annual adjusted profit forecast on Wednesday after lower medical costs in the firm's government-backed health insurance business helped it beat profit estimates for the first quarter. That has driven increased investor scrutiny into whether one-time items are helping lower medical costs artificially, hurting shares of rivals UnitedHealth (UNH.N) and Elevance (ELV.N) earlier this month despite both beating profit estimates. Medicare Advantage is its main business of government-backed health insurance for the elderly or those with certain disabilities. The impact of its exit from the commercial business was not included in adjusted figures for the quarter, Humana said. Its adjusted profit came in at $9.38 per share, beating estimates of $9.27.

Search resuls for: "Elevance"

25 mentions found