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Troops appear to have used armored vehicles to get past trenches and "dragon's teeth" defenses. They were reacting to a video showing Marder and Stryker infantry fighting vehicles pushing towards Russian lines. Crucially, he said it showed the vehicles behind Russia's fearsome layers of defenses meant to keep heavy vehicles out. Stryker armored fighting vehicles are versatile eight-wheeled weapons that were sent to Ukraine by the US in January. Marder infantry fighting vehicles, which resemble light tanks and can carry up to six people, were sent to Ukraine by Germany several months later.
Persons: Marder, George Barros, k4mFWGUMAk, K0995dHYQc — George Barros, Barros, Rob Lee, Stryker, Insider's Jake Epstein, Insider's Sinead Baker Organizations: Service, Stryker, Air Assault Brigade, Politico, Russian Locations: Ukraine, Russia's, Wall, Silicon, @georgewbarros, Verbove, Russia, Germany, Robotyne
The Ukrainian pilots are expected to arrive at Morris Air National Guard Base in Tucson, Arizona, by October. Ukraine’s leaders have asked for fighter jets from the West since the earliest days of the war. Loh said the Air National Guard assessed the three-month timeline based on training Ukrainian pilots received on Fresno, California-based F-15Cs, another advanced Air National Guard fighter jet. That exposure allowed the Air National Guard to assess that Ukraine’s aviators were already using more Western tactics in flying and that it would not take long to bring them up to speed, Loh said. The nine-month timeframe is the estimate to get pilots with no previous fighter jet experience flying the F-16s, Loh said.
Persons: Michael Loh, they’ll, ” Loh, Loh, , David Allvin, Sen, Richard Blumenthal, Conn, Allvin, Bradley, ” Allvin, Volodymyr Zelenskyy Organizations: U.S . Air National Guard, Morris Air National Guard Base, Air Force Association, , NATO, Air Force, Senate Armed Services Committee, Kyiv, Air National Guard Locations: Md, U.S, Tucson , Arizona, National Harbor , Maryland, Tucson, Ukraine, Europe, Russia, Ukrainian, , Fresno , California
US-provided Bradley infantry fighting vehicles have proven to be valuable assets for the Ukrainians. Advertisement Advertisement Watch:Recent photos offer a look inside a Bradley operated by Ukraine's 47th Mechanized Brigade in the southeastern Zaporizhzhia region. Designed and manufactured by BAE Systems as a response to Soviet infantry fighting vehicles, the Bradley entered service in the 1980s. Photo by Ukrinform/NurPhoto via Getty ImagesGunner 'Molfar' is pictured inside the Bradley. Photo by Ukrinform/NurPhoto via Getty ImagesGunner 'Molfar' is seen inside the Bradley.
Persons: Bradleys, Bradley, Gunner, Molfar, Dmytro Smolienko, Pat Ryder, Biden, Stryker Organizations: Bradley, Service, Washington, Ukraine's 47th Mechanized Brigade, Magura Mechanized Brigade, Publishing, Getty, BAE Systems, Pentagon Press, Air Force, Russia Locations: Wall, Silicon, Ukraine, Soviet, Bradleys, Zaporizhzhia, Robotyne, Iraq, Orikhiv, Azov
TD Cowen upgrades Domino's to outperform from market perform TD said in its upgrade of the stock that it sees upside to same-store sales. Bernstein reiterates Apple as market perform Bernstein said similarities exist between IBM 10 years ago and Apple today. Morgan Stanley reiterates Walmart as overweight Morgan Stanley sees an attractive risk/reward for Walmart shares. RBC upgrades American Express to outperform from sector perform RBC said the credit card company is "best positioned" to outperform. Jefferies reiterates Alphabet as buy The firm is more bullish on Alphabet shares after the company's recent Google Cloud event.
Persons: TD Cowen, Woodward, Uber, Cantor Fitzgerald, Wells, Bernstein, Morgan Stanley, Goldman Sachs, Lamb Weston, Stryker, Baird, Wolfe, Stifel, Jefferies, GOOGL's, We've Organizations: DIS, Media, Apple, IBM, Walmart, Bank of America, of America, Citi, Technologies, UBS, RBC, Dine Brands, Susquehanna, Barclays, Oracle, Vail Resorts, MTN, Google, Nvidia Locations: U.S, North America
The scale of the drone war in Ukraine is one of the most striking features of the conflict. "ISIS figured out how to arm their drones and attack us either with 'kamikaze' explosive-laden drones or drones that dropped" modified munitions, Townsend said. Soldiers with the 5th Battalion, 4th Air Defense Artillery Regiment train on an Avenger air-defense system in in July. In 2018, the Army reactivated the 5th Battalion, 4th Air Defense Artillery Regiment, returning a short-range-air-defense capability to Europe. AdvertisementAdvertisement"The war is showing how much [drones are] here and are affecting the war every day.
Persons: Ukraine isn't, Mara Karlin, wasn't, Karlin, that's, John Moore, Stephen Townsend, Townsend, Frank McKenzie, MAHMOUD TAHA, I've, Syria —, Richard Clarke, Clarke, Tom Karako, " McKenzie, McKenzie, Maj, Sean Gainey, Gainey, FADEL SENNA, Douglas Bush, Bush, they've, Col, Michael Parent, Narciso Contreras, Parent Organizations: Pentagon, Service, Defense Writers, US Marine, US Army, US Africa Command, ISIS, Getty, Army, US Special, Command, Aspen Security Conference, Missile Defense, Center for Strategic, International Studies, Patriot, , US Air Force, Congressional Research Service, 5th Battalion, 4th Air Defense Artillery Regiment, Spc, Yesenia, Asymmetric Warfare Group, Battalion, Stryker, Washington DC, Marine Corps, US Army Yuma, US, Anadolu Agency, Pacific . The Defense Department Locations: Ukraine, Wall, Silicon, Armenia, Azerbaijan, Afghanistan, Iraq, Mosul, Syria, Homs, Europe, Washington, Russian, Kyiv, Russia, Lviv Oblast, China, Pacific
Medtronic Plc logo is seen displayed in this illustration taken, April 10, 2023. Medtronic, which makes pacemakers, catheters and other tools used in heart and gastrointestinal surgeries, joins rivals, including Abbott Laboratories (ABT.N), Stryker (SYK.N) and Boston Scientific (BSX.N), on benefiting from a rise in non-urgent surgeries. CEO Geoff Martha said trends pointed to a recovery in surgical volumes as some procedures returned to stronger than pre-pandemic levels. Whereas, revenue from its medical surgical unit rose 5.5% to $2.04 billion. Medtronic also said that it was expecting to split its patient monitoring and respiratory interventions businesses in the first half of fiscal 2025.
Persons: Dado Ruvic, Stryker, Geoff Martha, It's, Martha, Edward Jones, John Boylan, Medtronic, Bhanvi Satija, Christy Santhosh, Shweta Agarwal Organizations: REUTERS, Abbott, Abbott Laboratories, Boston, Thomson Locations: Dublin, Bengaluru
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 22 (Reuters) - Medtronic (MDT.N) on Tuesday raised its annual profit forecast, after beating first-quarter estimates on higher demand for its medical devices used in heart and gastrointestinal surgeries. A recovery in non-urgent procedures and easing staffing shortages following a decline in COVID-19 cases has boosted the demand for medical devices. Sales at Medtronic's heart devices unit, its biggest revenue driver, increased 5.5% to $2.85 billion for the first quarter, above analysts' estimates of $2.78 billion. Revenue for the quarter rose 4.5% to $7.70 billion, topping analysts' average estimate of $7.57 billion. Its adjusted profit of $1.20 per share for the quarter ended July 28 beat estimates of $1.11 per share.
Persons: Dado Ruvic, Medtronic, Stryker, Bhanvi Satija, Christy Santhosh, Shweta Agarwal Organizations: REUTERS, Abbott Laboratories, Boston, Revenue, Thomson Locations: COVID, Dublin, Bengaluru
Final Trades: NextEra Energy, Stryker & Zimmer Holdings
  + stars: | 2023-08-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: NextEra Energy, Stryker & Zimmer HoldingsThe "Halftime Report" traders give their top picks to watch for the second half.
Organizations: NextEra Energy, Stryker, Zimmer Holdings
Ukraine's elite 82nd Air Assault Brigade appears to have joined its counteroffensive fight. Ukraine's 82nd Air Assault Brigade created a stir when it joined the attack. The area has been the scene of intense fighting and where Ukraine says it has made small gains, Ukraine's Kyiv Post reported. This would mean that the 82nd battalion alone would have half of Ukraine's best infantry armored vehicles from its NATO allies, the Kyiv Post reported. And the Kyiv Post reported that the infantry vehicle component only began training in March.
Persons: Insider's Rebecca Rommen, Vladimir Solovyov, Rybar, Michael Clarke Organizations: Air Assault Brigade, Service, Ukraine's, Ukraine's Kyiv Post, Stryker, Challenger, Politico, 82nd, NATO, Kyiv Post, Forbes, Telegraph Locations: Wall, Silicon, Ukrainian, Russia, Ukraine, Robotyne, Ukraine's Kyiv, Kyiv, Verbove
The Stryker combat vehicle is officially in action near the Zaporizhzhia frontline. The US-supplied vehicles can be outfitted with various weapons and move quickly while carrying soldiers. Its impressive arsenal includes 90 US-supplied Stryker vehicles, 40 German-produced Marders, 24 US M113 infantry carriers, as well as 14 British Challenger tanks, Politico reported. A US Army Stryker armored vehicle fires a Tube-launched, Optically-tracked, Wire-guided missile at Fort Polk in Louisiana in June 2009. There are 18 variants of the combat vehicle, and more than 4,900 have been built in the last 20 years by General Dynamics.
Persons: , Jimmy Rushton, Michael Clarke, Victor Ayala Organizations: Stryker, Service, Air Assault Brigade, Kyiv Post, 82nd Brigade, NATO, US, British Challenger, Politico, Challenger, US Army Stryker, US Army, Spc, Pentagon, Kyiv, General Dynamics, New York Times, Ministry of Defence, Russian Federation Locations: Russia, Wall, Silicon, Ukraine, Russian, Zaporizhzhia Region, Kyiv, Fort Polk, Louisiana, Zaporizhzhia
Ukraine's 82nd Air Assault Brigade has officially joined the counteroffensive against the Russian invasion forces, the Kyiv Post reports. Leaked documents from earlier this year revealed the 82nd Brigade was a formidable unit with about 150 NATO-supplied armored infantry carriers. Forbes called the 82nd Brigade "almost comically powerful" as it represents half of its best NATO-delivered infantry armored vehicles. The 82nd Brigade, and its sister air-assault unit, the 46th Brigade, had previously been held in reserve. The 82nd Brigade is reportedly active in the village of Robotyne, in the southern Zaporizhzhia Region of Ukraine.
Persons: Michael Clarke, Forbes, They're, Shane Charles Ukraine's, Clarke, they've, it's, Jimmy Rushton, Victor Ayala Clarke, Rushton Organizations: Air Assault Brigade, Service, 82nd Brigade, NATO, Stryker, British Challenger, Politico, Challenger, Forbes, Brigade, British, Royal United Services Institute, 46th Brigade, US Army Stryker, US Army, Spc, Ukraine, The Locations: Wall, Silicon, Russian, Ukraine, London, Kyiv, Fort Polk, Louisiana, Robotyne, Zaporizhzhia Region, Urozhaine, Zaporizhzhia Oblast
Electronic warfare has played a prominent role during the war in Ukraine. This has put fresh impetus behind the US Army's electronic-warfare upgrades. Concern about electronic warfare, or EW, isn't new, nor is the US deficient in all EW aspects. For its part, Russia has been able to use electronic warfare to send Ukraine's GPS-guided JDAM glide bombs and HIMARS rockets off course. Most armies — or at least the high-tech ones — are vulnerable to electronic warfare, but the US military is especially vulnerable because its way of war is so dependent on electronic communications.
Persons: Douglas Bush, Simon Mictizic, Bush, Charles Brown Jr, Denis Abramov, Brown, Lockheed Martin, Michael Peck Organizations: Service, US Army, Army, Army's 1st Infantry Division, Staff, Air Force, Joint Chiefs of Staff, Navy, Russian Defense Ministry, Mil.ru, Domain Command, GPS, Support Force, US, Combat, Stryker, TLS, Defense, Foreign Policy, Twitter, LinkedIn Locations: Ukraine, Russia, Wall, Silicon, Russian, China, Forbes
Armies around the world are testing high-energy laser weapons to intercept targets. If their claims are true, it would mean that China has leapfrogged ahead of the US in developing high-energy laser weapons that could be used on the battlefield. The capability China's military scientists claim to have developed, however, has not yet been seen in action. Laser beams can heat up gas in the air, which can reduce the quality of the beam and cause damage inside the laser chamber, according to the report. The Marines have tested a Compact Laser Weapons System in the range of 2 to 10 kilowatts, and the Air Force has received high-energy laser pods for its fighter jets.
Persons: Steve Weaver, Lockheed Martin Organizations: Service, China Morning, National University of Defence Technology, Optica Sinica, British, Energy, Lockheed, US Department of Defense's, US Army, Marines, Air Force, Defense Department, Office Locations: China, Wall, Silicon, Hunan, Optica, United States, Portland
However, the pharmaceutical companies are making the case that weight loss can improve health, and possibly lower health-care costs over time. But analysts have said the news isn't all bad for such stocks, and many were fell too low on Tuesday. Deutsche Bank analyst Imron Zafar estimated Thursday that bariatric surgery accounts for about 5% of Intuitive Surgical's U.S. robotic surgery business, but has been driving much of the company's growth. Some of the surgeons Zafar spoke with said any drop off in bariatric surgery was likely to be offset by increased use of the robot for other procedures. But they expect the drugs will remain necessary because GLP-1 drugs have yet to show they improve fibrosis, which is associated with NASH.
Persons: nonalcoholic steatohepatitis, NASH, Abbott, Robbie Marcus, Marcus, Marcus doesn't, Goldman Sachs, Goldman, Stryker, Smith, Zimmer Biomet, Bariatric, Imron Zafar, Zafar Organizations: Novo Nordisk, Abbott Laboratories, CNBC, JPMorgan, Companies, Inspire Medical Systems, Resmed, Philips, Nephew, Deutsche Bank, Madrigal Pharmaceuticals, Sagimet Biosciences, Akero Therapeutics, Terns Pharmaceuticals, Viking Therapeutics, Madrigal Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStryker CEO: We're in the midst of 'supercycle of innovation' across our capital equipment businessKevin Lobo, Stryker CEO, joins 'Squawk on the Street' to discuss the key factors for Stryker's growth, how long the backlog of procedures will last for the company, and Stryker's next catalyst for growth.
Persons: Kevin Lobo, Stryker
Morning Bid: Markets brace for BOE as China PMI cheers
  + stars: | 2023-08-03 | by ( ) www.reuters.com   time to read: +3 min
The BOE is leaning toward a 25 basis point hike after the inflation gods took some pity on the UK last month. Investors and economists will be sure to inspect the BOE's growth and inflation forecasts for indications of just how sticky the central bank thinks inflation has become. Not to be overshadowed by monetary policy, earnings reports roar back into focus on Thursday with Apple (AAPL.O) at the forefront. China kicks off a long line of PMI releases today with better-than-expected services activity, giving markets a bit of good news after disappointing data on Monday. In Japan, the stock market continued to feel the drag from U.S. chip firms on Thursday morning, with the Nikkei (.N225) seeing broad-based losses.
Persons: Hollie Adams, Brigid Riley, BOE, Jerome Powell isn't, hasn't, Stryker, Fed's Barkin, Jacqueline Wong Organizations: Bank of England, City of, REUTERS, Bank of, CPI, Reuters Graphics, ECB, Apple, Moderna, PMI, HK, Nikkei, Royce, Infineon, Adidas AG, BMW, Fed's, Thomson Locations: City, City of London, Britain, United States, China, Japan, U.S, Expedia, France, Italy, Sweden, Spain, Germany, Euro
The new aid package, which was first reported by Reuters, will include for the first time U.S. furnished Black Hornet surveillance drones made by Teledyne FLIR Defense, part of Teledyne Technologies (TDY.N). The Norwegian-built Hornet is being used in Ukraine through donations by the British and Norwegian governments, the company said. More than $43 billion in U.S. military aid has been provided since Russia's invasion in 2022. Commenting on the aid announcement, Secretary of State Antony Blinken noted Russia's attacks on Ukraine ports and Ukrainian infrastructure since withdrawing from the Black Sea Grain Initiative last week. The Black Sea grain deal was brokered by the United Nations and Turkey a year ago to combat a global food crisis worsened by Russia's invasion.
Persons: Russia grinds, Antony Blinken, Blinken, Mike Stone, Patricia Zengerle, Ismail Shakil, Katharine Jackson, Matthew Lewis, Grant McCool Organizations: U.S . Department of Defense, Ukraine, Reuters, Teledyne FLIR Defense, Teledyne Technologies, British, Systems, U.S . Army, Patriot, Air Missile Systems, High Mobility Artillery Rocket Systems, Stryker, Carriers, Authority, United, European Union, Thomson Locations: Russia, Norwegian, Ukraine, United States, United Nations, Turkey, Britain, Washington, Ottawa
Cluster munitions could boost Ukraine's counteroffensive to reclaim territory seized since Russia invaded in February 2022. Cluster munitions typically release large numbers of smaller bomblets that can kill indiscriminately over a wide area. Germany is one of 111 states party to the Convention on Cluster Munitions, a pact that does not include the United States. Biden waived prohibitions around the munitions, just as his predecessor Donald Trump did in 2021 to allow the export of cluster munitions technology to South Korea. 'VERY SIGNIFICANT CONTRIBUTION'Ukraine previously had urged U.S. lawmakers to press the Biden administration to approve sending cluster munitions.
Persons: Jake Sullivan, Joe Biden's, Sullivan, we've, Biden, Bradley, Antonio Guterres, Annalena Baerbock, Biden's, Donald Trump, Mykhailo Podolyak, Podolyak, Mike Stone, Nandita Bose, Steve Holland, Will Dunham, Grant McCool Organizations: United States, Pentagon, Russia, U.S . National Security, High Mobility Artillery Rocket Systems, Stryker, Human Rights Watch, Cluster Munitions, Republicans, U.S . House, Representatives Foreign, U.S, Army Tactical Missile, Munitions, Thomson Locations: Ukraine, Russia, U.S, Ukrainian, Germany, United States, Britain, South Korea, Russian
A weapons aid package that includes cluster munitions fired by a 155 millimeter Howitzer cannon was expected to be announced Friday, said two U.S officials speaking on condition of anonymity. The White House said sending cluster munitions to Ukraine is "under active consideration" but it had no announcement to make at this time. Human Rights Watch on Thursday called on Russia and Ukraine to stop using cluster munitions and urged the U.S. not to supply them. In order to send cluster munitions to Ukraine, Biden would need to sign a waiver, one of the people said, similar to one that was signed for exporting cluster munitions technology to South Korea in 2021. The cluster munitions, banned by more than 120 countries, normally release large numbers of smaller bomblets that can kill indiscriminately over a wide area, threatening civilians.
Persons: Joe Biden, Biden, Bradley, Volodymyr Zelenskiy, Mike Stone, Jeff Mason, Steve Holland, Rami Ayyub, Doina, Christina Fincher, Gareth Jones, David Gregorio Our Organizations: United, NATO, Human Rights, High Mobility Artillery Rocket Systems, Stryker, Pentagon, Munitions, ABC, Thomson Locations: United States, Ukraine, Vilnius, Lithuania, Russia, South Korea, U.S, Kyiv, Denmark, Netherlands
WASHINGTON, June 26 (Reuters) - The United States plans to announce as soon as Tuesday a new military aid package for Ukraine worth up to $500 million, keeping up U.S. resolve to help Ukraine against Russia as Moscow deals with a mutiny by some of its soldiers. The package will include ground vehicles as Ukraine presses its counteroffensive, two U.S. officials said. Expected to be included are 30 Bradley fighting vehicles and 25 Stryker armored personnel carriers, one of the officials said. As a part of the aid package, Ukraine will receive munitions for High Mobility Artillery Rocket Systems (HIMARS), anti-tank weapons including Javelins and munitions for Patriot and Stinger anti-aircraft systems, according to the officials, who spoke on condition of anonymity. The security assistance package would be the 41st approved by the United States for Ukraine since the Russian invasion in February 2022, for a total of more than $40 billion.
Persons: Bradley, Mike Stone, Mark Porter, Grant McCool Organizations: United, High Mobility Artillery Rocket Systems, Patriot, Authority, Thomson Locations: United States, Ukraine, Russia, Moscow, Washington
Russian troops have spent the past several months constructing intricate fortifications in Ukraine. Ukrainian troops now have the tough task of fighting their way through those trenches and barriers. Current Russian fortification doctrine has seen "little methodological change" since the Cold War, according to the RUSI report. BEN STANSALL/AFP via Getty ImagesClearing minefields is difficult because Russian mines have multiple triggers and anti-tampering devices. In addition, Russia did not sign the 1997 Ottawa Treaty banning anti-personnel mines, which has allowed its forces to "freely utilize victim-initiated" anti-personnel mines, RUSI said.
Persons: , Doce, BEN STANSALL, Ukraine isn't, Dominika Zarzycka, RUSI, Obama, Trump, Biden, Michael Peck Organizations: Service, Red Army, Britain's Royal United Services Institute, Technologies, Russian, REUTERS, Bradley, Getty, US, Pentagon, Defense, Foreign Policy, Twitter, LinkedIn Locations: Ukraine, Stalingrad, Velyka Blahovischenka, Kherson Oblast, Russia, Luhansk, Crimea, Posad, Kherson, Ukrainian, England, AFP, Russian, Finland, Nemishaieve, Bucha, Ottawa, North, South Korea, Forbes
CNN —Russian President Vladimir Putin has warned there is a “serious danger” of NATO being drawn further into the Ukraine war if members of the alliance continue to supply military weaponry to Kyiv. “NATO, of course, is being drawn into the war in Ukraine, what are we talking here,” Putin said at the St. Petersburg International Economic Forum on Friday. While Ukraine is not a member of NATO, some NATO members have been supplying Kyiv with tanks, armored vehicles and other weaponry – prompting threats of retaliation from Russia. During his speech to the forum, Putin also suggested Russia’s large number of nuclear weapons would “guarantee” its security – noting that Russia had more such weapons than NATO countries. “Nuclear weapons are created to guarantee our security in the broader sense and the existence of the Russian state,” Putin said.
Persons: Vladimir Putin, ” Putin, American Bradley, Jens Stoltenberg, Putin, we’ll, , Organizations: CNN, NATO, St ., Economic, Atlantic Treaty Organization, British Challenger, Leopards, Arms Control Association, Foreign Ministry Locations: Ukraine, St, St . Petersburg, Soviet Union, Russia, American, Britain, France, Russian, United States
Russia is forcing Ukrainians to fix outdated and broken military equipment, Ukraine claims. Russia lacks mechanics who have the skills necessary to fix the equipment up, officials said. The Ukrainian Defense Ministry's National Resistance Center said in a statement that Russian forces are bringing aged military equipment back into service, but "lack mechanics who can repair damaged or outdated vehicles." President Vladimir Putin admitted Tuesday that his forces don't have enough "high-precision ammunition, communications equipment, aircraft, drones, and so on." In its statement, the National Resistence Center urged Ukrainians living under Russian occupation not to comply with any repair orders from Russian forces.
Persons: , Vladimir Putin, Bradley Organizations: Service, Russian, Ukrainian Defense Ministry's National Resistance Center, National Resistence Center Locations: Russia, Ukraine, Ukrainian, Russian
So far done this without using a ton of NATO weapons. One Ukrainian General Staff member even compared it to a game of chess, where you're trying to lure out the enemy and their reinforcements. So why is Kyiv going easy on the NATO weapons and not fully flexing their military muscle? So, it looks like the Ukrainian General Staff is taking it slow, launching attacks with relatively small units and limited gear. Two of these U.S. aircraft already made a cameo in a video produced by the Ukrainian forces for their offensive.
Persons: it's, , they've, George Barros, Ben Hodges, Nobody's, Stryker, Marder, They're, Stefan Korshak, Andrij Sybiha, General Hodges, Nobody Organizations: Service, NATO, Institute for, Ukrainian, Staff, Centre for, British Challenger, U.S, Stryker, Presidential Administration, Washington Locations: Ukraine, Russia, U.S, Europe, Sweden, Zaporizhzhia, Lyssychansk, Russian, Kharkiv, Ukrainian
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
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