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Change Healthcare – Shares of Change Healthcare jumped 6.4% after a federal judge said that UnitedHealth cannot take over the company. Humana – Shares of health company Humana gained 1% and touched an all-time high a day after the company raised its earnings guidance for the fiscal year. Cognex — Shares of machine vision systems maker Cognex jumped nearly 7% after the company raised its revenue outlook for the current quarter. Olin — The manufacturing company fell 4.6% after issuing its third-quarter EBITDA guidance. MicroStrategy – Shares of software company MicroStrategy fell 4.6% after the company announced that it made its smallest purchase of Bitcoin in two years.
Take a look at some of the biggest movers in the premarket:Ford (F) – The automaker's stock fell 4.5% in the premarket after it warned that quarterly earnings would take a hit of about $1 billion from increased supplier costs and parts shortages. BioNTech fell 2.4% in premarket trading, with Moderna off by 2.1%. Cognex (CGNX) – Cognex shares jumped 4.7% in the premarket after the maker of machine vision systems and sensors raised its current-quarter revenue outlook. Western Digital (WDC) – The disk drive maker's shares fell 1.7% in the premarket following a downgrade by Deutsche Bank to "hold" from "buy." Deutsche Bank said the company's profit and revenue appear to be coming in at the low end of guidance due to deteriorating demand.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJudge denies DOJ request to block UnitedHealth-Change acquisitionA U.S. judge has denied the Justice Department's effort to block UnitedHealth's bid to buy Change Healthcare. CNBC's David Faber breaks down the details.
U.S. trustbusters’ red faces match legal red tape
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +2 min
A UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. REUTERS/Lucy Nicholson/IllustrationNEW YORK, Sept 20 (Reuters Breakingviews) - America’s antitrust enforcers can’t catch a legal break. Unless they start scoring court wins, competition hawks’ legacy may be less stopping M&A than making it more painful. UnitedHealth’s victory, which followed 20 months of investigation and litigation, confirms that merger reviews generally are becoming more onerous. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
WASHINGTON (Reuters) -A U.S. judge on Monday denied the Justice Department’s bid to stop UnitedHealth Group from buying Change Healthcare, a court filing showed, in a blow to the U.S. administration’s tougher enforcement of antitrust issues. UnitedHealth announced the all-cash deal in January 2021, saying it would help streamline administrative and payment processes. UnitedHealth said it was “pleased with the decision” and looked forward to combining with Change as quickly as possible. The Justice Department had said that UnitedHealth and Change Healthcare offer competing software for processing healthcare claims and together serve 38 of the top-40 health insurers in the country. The Justice Department also lost a bid to win convictions of executives at chicken processing companies that it accused of price-fixing.
The court’s decision is a win for UnitedHealth, which owns the largest U.S. health insurer and a sprawling healthcare operation that comprises thousands of doctors as well as clinics and valuable data. August 22, 2022, USA: UnitedHealth Group headquarters in Minnetonka, Minnesota. (Credit Image: © File/Minneapolis Star Tribune via ZUMA Press Wire)WASHINGTON—A federal judge Monday ruled against a Justice Department antitrust challenge to UnitedHealth Group $13 billion acquisition of health-technology firm Change Healthcare rejecting government claims that the deal would unlawfully suppress competition and limit innovation in health-insurance markets. U.S. District Judge Carl Nichols ruled for the companies in an opinion that he kept under seal for now because he said it “may contain competitively sensitive information.” The judge said he would release a redacted public version of the ruling in the coming days. In a one-page public order, he denied the Justice Department’s request to block the companies from completing the deal.
read moreSome of the largest U.S. hospitals said on Tuesday they are facing critical shortages of iodinated contrast media products. The Greater New York Hospital Association (GNYHA) warned on May 4 of temporary supply shortages of GE Healthcare's iodinated contrast media - specifically its Omnipaque products made in Shanghai. "We are working around the clock to expand capacity of our iodinated contrast media products," a GE spokesperson said after the company had to close its Shanghai facility for several weeks due to local COVID policies. GE Healthcare has four contrast media manufacturing facilities, including the one in Shanghai. A spokesperson for Bayer (BAYGn.DE), which competes with GE Healthcare in contrast media, said it is not facing a similar situation.
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