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After a rough September, October has so far been much more kind to stocks and has helped Wall Street cut into some of its third-quarter losses . FL mountain 2023-09-29 Foot Locker's stock performance so far in October. LLY mountain 2023-09-29 Eli Lilly's stock performance so far in October. PANW mountain 2023-09-29 Palo Alto's stock performance so far in October. HUM mountain 2023-09-29 Humana's stock performance so far in October.
Persons: Dow, Locker, Foot, Jim Cramer, Eli Lilly's, Eli Lilly, Jim Cramer's, Jim, Angela Weiss Organizations: Dow Jones, Nasdaq, Nike, Novo Nordisk, Palo Alto Networks, Nvidia, Johnson Controls, Palo Alto, Coterra Energy, Exxon Mobil, Club, Natural Resources, Humana, UnitedHealth, CNBC, New York Stock Exchange, Wall, AFP, Getty Locations: Alto, Israel, U.S, New York City
UBS thinks UnitedHealth is an essential portfolio holding trading at a discount. The firm upgraded shares of the health care giant to buy from neutral and raised its target price to $640 from $520. "We believe that the strong Q3 release from UNH is a clearing event that should pave the way for improved valuation for the stock," Rice said. UnitedHealth stock has ticked up nearly 2% in 2023. UNH YTD mountain UNH in 2023 UNH YTD mountain UnitedHealth stock.
Persons: UnitedHealth, AJ Rice, Rice, — CNBC's Michael Bloom Organizations: UBS Locations: UNH
UBS upgrades UnitedHealth to buy from neutral UBS called the stock a "core holding." Jefferies upgrades Pfizer to buy from hold Jefferies said investors should buy the dip in shares of Pfizer. UBS initiates Evolent Health as buy UBS said it sees more upside for the health-care company. Morgan Stanley upgrades Varonis Systems to overweight from equal weight Morgan Stanley said the data security and analytics company has "underappreciated AI tailwinds." UBS upgrades Tal Education to buy from neutral UBS said a turnaround for the education tech company is underway.
Persons: Morgan Stanley, Apple, Jefferies, Goldman Sachs, Horton, Piper Sandler, Tesla, Truist, Stifel Organizations: Apple, JPMorgan, Nvidia, NVIDIA, UBS, UNH, Jefferies, Pfizer, Maplebear Inc, Disney, US Parks, Evolent Health, payors, Varonis, Nice Systems, NICE, Netflix, ISI, Tal Education, RBC, BMO, Energy, Colgate, Palmolive Locations: UNH, U.S
Wall Street's three major indexes opened higher but lost ground after a preliminary reading on U.S. consumer sentiment showed a sharp fall in October. The moves in bonds, equities and oil reflect worries about deteriorating consumer sentiment, the global economy and geopolitical conflict, she added. However, for the week the S&P 500 registered a 0.45% gain for its second weekly advance in a row. The S&P 500 Banks index (.SPXBK) pared gains as the day wore on to close up 0.6% after rising as much as 3.4% to a three-week high. The S&P 500 posted 12 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 28 new highs and 335 new lows.
Persons: Brendan McDermid, Wells, Wall, Dow, Israel, Lauren Goodwin, Goodwin, Patrick Harker, Todd Vasos, Jeff Owen, advancers, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Shounak Dasgupta, Anil D'Silva, Shinjini Ganguli, Richard Chang Organizations: New York Stock Exchange, REUTERS, JPMorgan, Dow, Nasdaq, The United Nations, Treasury, New York Life Investments, Dow Jones, JPMorgan Chase, Citigroup, Federal Reserve Bank of Philadelphia, BlackRock, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Gaza, Israel, BLK.N, Bengaluru
[1/2] A UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. REUTERS/Lucy Nicholson/Illustration/File Photo Acquire Licensing RightsOct 13 (Reuters) - UnitedHealth (UNH.N) reported a third-quarter profit on Friday ahead of analysts' estimates, helped by a lower-than-feared rise in medical costs at the company's health insurance unit. UnitedHealth's profit beat and slight raise in annual forecast set the stage for other insurers in the industry that suffered a nearly $60-billion wipeout in market value in June, on fears of a spike in medical costs. UnitedHealth said in July it expects quarterly medical costs to be "a little bit lower" sequentially. In the third quarter, the company's medical loss ratio, the percentage of spend on claims compared to premiums collected, was 82.3%, versus 83.2% in the second quarter.
Persons: Lucy Nicholson, Stephens, Scott Fidel, UnitedHealth, Mariam Sunny, Bhanvi, Shounak Dasgupta Organizations: REUTERS, Humana, Thomson Locations: COVID, Bengaluru
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Wells Fargo gains as Q3 profit risesJPMorgan Q3 profit rises on interest income boostBlackRock reports Q3 profit growthUnitedHealth gains on Q3 profit beatFutures: Dow flat, S&P down 0.18%, Nasdaq down 0.43%Oct 13 (Reuters) - Futures tracking Wall Street's main indexes fell on Friday as investors assessed earnings from big U.S. banks, while Treasury yields eased following a spike in the previous session. JPMorgan Chase(JPM.N), the biggest U.S. bank, posted a jump in third-quarter profit as higher interest rates boosted its income from loans. BlackRock (BLK.N) reported a 13% rise in third-quarter profit on a rebound in markets. UnitedHealth (UNH.N) advanced 2.5% after beating third-quarter profit estimates, helped by lower-than-expected medical costs for the healthcare conglomerate. Traders put the chance of interest rates remaining unchanged in November and December at around 92% and around 69%, respectively, according to CME's FedWatch tool.
Persons: Brendan McDermid, JPMorgan Chase, Wells Fargo, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Organizations: New York Stock Exchange, REUTERS, Companies Wells, JPMorgan, BlackRock, Dow, Nasdaq, U.S, Citigroup, Commonwealth Financial Network, Fed Bank of Philadelphia, Federal Reserve Bank of Boston, Traders, University of Michigan's, Dow e, Investors, Hamas, Exxon Mobil, Chevron, Callon Petroleum, Occidental Petroleum, Dollar, Boeing, Thomson Locations: New York City, U.S, BLK.N, Israel, Gaza City, Bengaluru
REUTERS/Lucy Nicholson/Illustration/File Photo Acquire Licensing RightsOct 13 (Reuters) - UnitedHealth (UNH.N) reported a third-quarter profit on Friday that beat analysts' estimates, helped by lower-than-expected medical costs for the healthcare conglomerate. UnitedHealth said in July it expects medical costs for the third quarter to be "a little bit lower" compared with the second quarter. The company's medical loss ratio for the quarter, the percentage of spend on claims compared to premiums collected, was 82.3%, compared with analysts' estimates of 82.82%, according to LSEG data. UnitedHealth reported an adjusted profit of $6.56 per share for the third quarter, compared with estimates of $6.32. The company now expects an adjusted profit between $24.85 and $25.00 per share, compared with its previous outlook of $24.70 to $25.00.
Persons: Lucy Nicholson, UnitedHealth, Mariam Sunny, Bhanvi, Shounak Dasgupta Organizations: REUTERS, Thomson Locations: Bengaluru
Futures edge lower ahead of big bank earnings
  + stars: | 2023-10-13 | by ( ) www.reuters.com   time to read: +3 min
SummaryCompanies Futures down: Dow 0.02%, S&P 0.11%, Nasdaq 0.25%Oct 13 (Reuters) - Futures tracking Wall Street's main stock indexes edged lower on Friday as investors looked ahead to earnings reports from big U.S. banks, while Treasury yields eased after a spike in the previous session. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) are scheduled to report quarterly numbers before the opening bell. Asset manager BlackRock (BLK.N), health insurer UnitedHealth Group (UNH.N) and regional lender PNC Financial (PNC.N) are also slated to report earnings. Remarks from Fed Bank of Philadelphia President Patrick Harker, a voting member on the rate-setting Federal Open Market Committee (FOMC) this year, would also be on investors' radar during the day. On the data front, a preliminary estimate of the University of Michigan's October Consumer Sentiment Index is due at 10 a.m.
Persons: JPMorgan Chase, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Saumyadeb Organizations: Dow, Nasdaq, JPMorgan, Citigroup, BlackRock, UnitedHealth, PNC Financial, Commonwealth Financial Network, Fed Bank of New, Fed Bank of Philadelphia, Market, Federal Reserve Bank of Boston, Traders, Treasury, University of Michigan's, Dow e, Hamas, Thomson Locations: Wells Fargo, Fed Bank of New York, U.S, Israel, Gaza City, Bengaluru
UnitedHealth Group 's (UNH) quality quarterly results Friday are a good sign for the broader health-care landscape, CNBC's Jim Cramer said. UnitedHealth "is a key component in the health-care universe, and … there will be a plethora of stocks that will trade well off this," Cramer said on "Squawk on the Street." Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, owns Humana shares. The company's past comments had major ripple effects for health-care stocks, dragging down fellow insurers — such as Humana — while boosting shares of many medical device makers. Including Friday's gains, UNH shares turned slightly positive year to date.
Persons: CNBC's Jim Cramer, UNH, Jim Cramer's, Cramer, UnitedHealth, UnitedHealth's Organizations: New York Stock Exchange, UnitedHealth, Dow, Charitable Trust, CNBC, Club, Humana
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) rose between 3% and 5% after trouncing quarterly profit estimates as they benefited from higher interest rates. The S&P 500 Banks index (.SPXBK) gained 3.2%, hitting a three-week high. Options traders are bracing for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed. The energy sector (.SPNY) tracked a more than 3% jump in crude prices and led the gains among S&P 500 sectors.
Persons: Brendan McDermid, Wells, JPMorgan Chase, Wells Fargo, Stuart Cole, Cole, Patrick Harker, Investors, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Chakrabarty, Shounak Dasgupta, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Companies JPMorgan, Citigroup, Dow, Nasdaq, JPMorgan, Citi, Equiti, BlackRock, Federal Reserve Bank of Philadelphia, Dow Jones, Hamas, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Israel, Gaza City, Bengaluru
Final Trades: HACK, C, QQQ & UNH
  + stars: | 2023-10-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: HACK, C, QQQ & UNHThe final trades of the day with CNBC’s Melissa Lee and the Fast Money traders.
Persons: CNBC’s Melissa Lee Organizations: Fast Money
S&P 500 (.SPX) companies overall are expected to have increased earnings by 1.3% from a year ago, according to LSEG IBES. After a rough September for stocks, "we need some good news" from earnings season, said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. Inflation dampened company earnings in the first half, after consumer prices surged in 2022 to their highest levels in decades. Investors will also scrutinize company fourth-quarter outlooks, with S&P 500 earnings for the fourth quarter currently expected to rise 10.8% from a year earlier. One clue could come from the consumer discretionary sector (.SPLRCD), where earnings are expected to have jumped by 23.1% from the year-ago period.
Persons: Brendan McDermid, LSEG, Matthew Miskin, You've, you've, Miskin, Rick Meckler, John Hancock, J.P, Morgan Chase, James Ragan, Davidson, Ragan, , Oliver Pursche, Caroline Valetkevitch, Lewis Krauskopf, Megan Davies, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, John Hancock Investment Management, Cherry, Investments, Reuters Graphics Reuters, Federal Reserve, Treasury, Delta Air Lines, PepsiCo, UnitedHealth, Wealthspire Advisors, Thomson Locations: New York City, U.S, Westport , Connecticut
Consensus estimates for the third quarter were recently lowered with expectations for flat revenue growth and slightly positive earnings growth. The three stocks below are also growing revenues, earnings, cash flows, and dividends as they have fundamentally attractive businesses that are less cyclical. Motorola Solutions (MSI) is a video and telecommunications equipment, software, systems, and services provider with an annual yield of 1.28%. It has an annual yield of 1.38%. And Eaton Corporation (ETN), is a power management company with an annual yield of 1.68%.
Persons: Saira Malik, Malik, I'm Organizations: Investors, Treasury, Retail, Walmart, Motorola Solutions, Linde, Eaton Corporation
UK regulator clears $1.52 billion UnitedHealth-EMIS deal
  + stars: | 2023-09-29 | by ( ) www.reuters.com   time to read: 1 min
Sept 29 (Reuters) - Britain's competition regulator said on Friday it has cleared UnitedHealth Group's (UNH.N) 1.24 billion-pound ($1.52 billion) acquisition of healthcare technology firm EMIS (EMISG.L). The Competition and Markets Authority (CMA) confirmed it found no competition concerns in the deal between specialist healthcare tech and software companies, which provide services to Britain's National Health Service (NHS). Optum UK, part of U.S.-based UnitedHealth, unveiled an offer to acquire EMIS in June last year, to position the combined entity to provide better services to the NHS. ($1 = 0.8173 pounds)Reporting by Richard Rohan Francis in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.
Persons: Richard Rohan Francis, Eileen Soreng Organizations: Markets Authority, CMA, National Health Service, Optum, Thomson Locations: U.S, Bengaluru
He’s getting over 60% in a number of national surveys of the GOP primary and holds the advantage in every early state that’s been polled. Take a look at CNN’s most recent survey of the state’s GOP primary conducted by the University of New Hampshire. The fact that Trump’s share of the New Hampshire primary vote remains flat is notable. In 2016, New Hampshire GOP primary voters were twice as likely to identify as moderates and independents than Iowa Republican caucusgoers. And keep this in mind: The winner of the Iowa GOP caucuses rarely wins the New Hampshire GOP primary.
Persons: Donald Trump, He’s, that’s, Trump, Vivek Ramaswamy, Nikki Haley, Chris Christie, Ron DeSantis, isn’t, Christie, Haley, Ramaswamy, Ted Cruz, Marco Rubio, there’s, George W, Bush, Elizabeth Dole, John McCain, Dole, McCain, That’s, it’s Organizations: CNN, GOP, Trump, Granite State Republicans, University of New, South Carolina Gov, New, New Jersey Gov, Florida Gov, Fox, New Hampshire Republican, eventual, Republican Party, New Hampshire GOP, Iowa Republican caucusgoers, Iowa GOP, Republican Locations: New Hampshire, University of New Hampshire, New Jersey, Florida, UNH’s, Iowa, South Carolina, Arizona, . New Hampshire
Gertjan van der Geer, a senior investment manager at the firm, describes megatrends as large social, economic, political, environmental, or technological transformations that significantly impact the economy, society, cultures, or businesses. Additionally, five criteria must be met before Pictet creates a thematic fund, van der Geer said. When it comes down to picking the right basket of stocks, van der Geer noted that a company's fundamentals are key. And there are a few things that we are looking for in these companies," van der Geer said. And one of the key ways to improve our CO2 footprint globally is to reduce the unnecessary pollution," van der Geer said.
Persons: they're, Gertjan van der Geer, Pictet, van der Geer, It's, Van der Geer Organizations: Microsoft, Apple, Pictet, Management, Premium Brands, Security, Health, Schneider, Clean Energy, Nordisk, Asml, Roper Technologies, Kla Corp, Republic Services Locations: megatrends
Bausch Health (BHC) is a different case. Key points Health-care stocks outperformed the broader U.S. stock market last year, but this year it's been much-tougher sledding for the sector due to a variety of headwinds. We feel comfortable owning our three other primary health care stocks: GE Healthcare, Humana and Danaher. In recent weeks, analysts at Wells Fargo and Citigroup have started coverage of GE Healthcare with buy ratings. The analysts at Jefferies now rate Bausch Health stock a buy, with a price target increase to $16 per share from $9.
Persons: There's Eli Lilly, Eli Lilly, That's, Eli Lilly's, Ryan Issakainen, we're, Issakainen, , Stryker, Jim Cramer, it's, Jim, We've, Bausch, BHC, We're, I'm, Jefferies, Jim Cramer's, Frederick Florin Organizations: GE Healthcare, Health, Federal Reserve, First Trust Advisors, Humana, Medicare, Dow, UnitedHealth, GE, General Electric, , Citigroup, Jefferies, CNBC, AFP, Getty Locations: what's, China, STE, Biogen, Wells, Bausch, Fegersheim, France
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
Overall, Trump is the first choice of 39% of likely GOP primary voters in the first-in-the-nation primary state. That lags a bit behind his performance nationally, where Republican primary polling routinely finds Trump with majority support. Pence is the only candidate besides Christie with majority unfavorable views among likely GOP primary voters in New Hampshire (62% unfavorable). Few likely New Hampshire Republican primary voters raise serious doubts about Trump when asked to name their top concern about him as a candidate. Results among 845 likely Republican primary voters have an error margin of plus or minus 3.4 percentage points; it is larger for subgroups.
Persons: Donald Trump, Trump, Ron DeSantis, He’s, Vivek Ramaswamy, Nikki Haley, Chris Christie, Carolina Sen, Tim Scott, Mike Pence, who’ve, Trump’s, they’ve, Christie, Pence, Asa Hutchinson, Ramaswamy, Haley, Scott, DeSantis Organizations: CNN, University of New, Florida Gov, South Carolina Gov, New, New Jersey Gov, GOP, Trump voters, Republican, Arkansas Gov, Trump, New Hampshire Republican, Ukraine, government’s Department of Education, CNN New, University of New Hampshire Survey Locations: New Hampshire, University of New Hampshire, New Jersey, Carolina, CNN New Hampshire, Hampshire
Value investing can be challenging, humbling, and even lonely, as fund manager Sam Peters has learned over the last three decades. Markets are usually efficient, Peters acknowledged, meaning that stocks usually trade near their fair value. Thanks to this method, Peters' portfolio often has an unconventional combination of companies that offers diversification with the potential to compound abnormally large returns over time. Peters added: "I think we're going to be in a higher nominal rate environment, higher inflation environment, higher rate environment. Such a setup would favor value stocks over their growth peers, Peters said.
Persons: Sam Peters, Peters, he's, Morningstar, it's, we're, Johnson, They're, ROE, there's, Noble, Toby Rice Organizations: Trust Fund, Healthcare, Johnson, UnitedHealth, Insurance, International Group, AIG, Trust Locations: financials
This time around, the surge in global interest rates meant banks contributed half the world's dividend growth and drove a quarter of Europe's increase. At the same time, U.S. dividend growth slowed for the sixth consecutive quarter. "But the positive effect on bank margins from the end of years of ultra-low interest rates is very powerful and is driving dividend payouts". The second quarter marks a seasonal high point for Japanese dividends and payouts there rose 8.4% on an underlying basis. Its largest dividend payer, carmaker Toyota (7203.T), accounted for one third of the underlying increase with a 25% hike, despite lower profits.
Persons: Dado Ruvic, Janus Henderson, Ben Lofthouse, Lofthouse, Eli Lilly, Marc Jones, Alex Richardson Organizations: REUTERS, Companies, Global Equity, UnitedHealth Group, Intel, Blackstone, Toyota, HK, Petrobras, PETR4, Thomson Locations: Europe, Italy, Spain, Britain, Ukraine, U.S, Asia, China, Brazil, Colombia
CVS Health logo is seen displayed in this illustration taken, May 3, 2022. The regional health insurance provider will still retain CVS Caremark for managing specialty drugs, which are costly medications used to treat complex conditions like cancer and rheumatoid arthritis. Other analysts highlighted difficulties in shifting to a different model than the one offered by companies like CVS - which provide other services including home drug delivery and reimburse pharmacies for patients' prescriptions. Amazon Pharmacy will provide at-home delivery of prescription drugs as well as upfront pricing, while Mark Cuban Cost Plus Drug Company will provide access to generic drugs, Blue Shield said. Blue Shield of California's other partners include privately held Abarca for processing claims related to prescription drugs, while smaller PBM Prime Therapeutics will work to negotiate savings with drugmakers.
Persons: Dado Ruvic, Cigna, UnitedHealth, Mark, Elizabeth Anderson, J.P, Morgan, Lisa Gill, Gill, Blue, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai, Krishna Chandra Eluri, Frances Kerry Organizations: CVS, REUTERS, Amazon, Cigna, UnitedHealth, Evercore ISI, Mark Cuban, Plus, Thomson Locations: Bengaluru
CVS Health logo is seen displayed in this illustration taken, May 3, 2022. Blue Shield, whose health plans cover 4.8 million members, said it will now work with five different companies, including Mark Cuban's drug company, to provide "convenient, transparent access to medications while lowering costs." Privately held Abarca will pay prescription drug claims, while Prime Therapeutics will work with Blue Shield to negotiate savings with drugmakers, the company said. Blue Shield will also work with CVS Caremark for specialty pharmacy services. The loss of the Blue Shield pharmacy benefit management contract is another blow to Caremark, which is also set to lose the contract to manage Centene's (CNC.N) $40 billion annual pharmacy needs from next year.
Persons: Dado Ruvic, UnitedHealth, Mark Cuban's, Paul Markovich, Mark, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai Organizations: CVS, REUTERS, Blue, Cigna, UnitedHealth, Pharmacy, Wall Street, Mark Cuban, Plus, Thomson Locations: Blue, Bengaluru
Cisco Systems (CSCO.O) gained 2.2% in premarket trading after the networking equipment maker's fourth-quarter results beat estimates, and its CEO talked up artificial intelligence opportunities. Traders' bets of a rate hike pause from the Fed in September slipped to 86.5% from about 89% a week earlier, according to CME Group's Fedwatch tool. Walmart results follow stronger-than-expected earnings from Target (TGT.N) and Home Depot (HD.N) earlier this week, marking an upbeat second quarter for major U.S. retailers. ET, Dow e-minis were up 37 points, or 0.11%, S&P 500 e-minis were up 16 points, or 0.36%, and Nasdaq 100 e-minis were up 72.5 points, or 0.49%. Reporting by Amruta Khandekar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, Thomas Martin, Oppenheimer, Amruta Khandekar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, U.S, U.S . Federal, Cisco Systems, Globalt Investments, Traders, Fed, Nvidia, Rosenblatt Securities, Walmart, Target, CVS Health Corp, Dow e, Ball Corp, BAE Systems, Thomson Locations: New York, U.S ., U.S, Bengaluru
Cisco Systems (CSCO.O) gained 4.6% after the networking equipment maker's fourth-quarter results beat estimates, and its CEO talked up artificial intelligence opportunities. The S&P 500 health sector (.SPXHC), down 0.2%, was among the few major sectors in the red. Advancing issues outnumbered decliners by a 1.91-to-1 ratio on the NYSE and by a 1.16-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 12 new lows, while the Nasdaq recorded 11 new highs and 95 new lows. Reporting by Amruta Khandekar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, Dow, Thomas Martin, Amruta Khandekar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, U.S, U.S . Federal, Cisco Systems, Globalt Investments, Traders, Fed, Walmart, Target, CVS Health Corp, . Energy, Dow Jones, Ball Corp, BAE Systems, NYSE, Thomson Locations: New York, U.S ., U.S, Bengaluru
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