Top Stock Movers Now: UnitedHealth, Rivian, Block, and More
U.S. equities experienced a midday downturn, influenced by a weaker-than-expected consumer sentiment report and concerns surrounding UnitedHealth Group (UNH). The Dow Jones Industrial Average, S&P 500, and Nasdaq all declined.
UnitedHealth Group (UNH): Shares of UnitedHealth Group fell nearly 9% following reports that the Department of Justice is investigating the company's Medicare billing practices. The probe focuses on whether UnitedHealth over-diagnosed conditions to secure higher payouts from the Medicare Advantage program. UnitedHealth has denied the allegations, asserting that its practices improve health outcomes.
Rivian Automotive (RIVN): Rivian's stock declined after the electric vehicle manufacturer issued a 2025 delivery forecast below expectations, citing macroeconomic challenges. The company anticipates delivering between 46,000 and 51,000 vehicles in 2025, a decrease from the 52,000 units delivered in 2024.
Block Inc. (XYZ): Shares of Block Inc. (formerly Square) dropped after the company reported fourth-quarter earnings and revenue that missed analysts' expectations, attributing the shortfall to slowing consumer spending.
Booking Holdings (BKNG): In contrast, Booking Holdings' stock rose as the online travel agency reported fourth-quarter financial results that exceeded Wall Street's expectations, driven by strong consumer demand for international travel.
Celsius Holdings (CELH): Celsius Holdings' shares surged after the company announced plans to acquire Alani Nutrition, a health and wellness drinks brand, for $1.8 billion. This acquisition aims to expand Celsius's portfolio and capitalize on the growing demand for energy drinks.
Overall, the market's performance was mixed, with healthcare and technology sectors facing challenges, while travel and beverage industries saw positive developments.
No Comment to " Top Stock Movers Now: UnitedHealth, Rivian, Block, and More "