U.S. stocks were mostly higher, with the Dow Jones index gaining over 100 points on Tuesday.
Shares of UnitedHealth Group Incorporated UNH rose sharply during Tuesday’s session following better-than-expected first-quarter earnings.
The company reported adjusted EPS of $6.91, up from $6.26 a year ago, beating the consensus of $6.62. UnitedHealth’s revenues increased nearly $8 billion to $99.8 billion, beating the consensus of $99.3 billion, according to data from Benzinga Pro.
UnitedHealth Group shares surged 6.2% to $473.20 on Tuesday.
Here are some other big stocks recording losses in today’s session.
Macatawa Bank Corporation MCBC shares jumped 38.8% to $13.78 after Wintrust Financial Corporation WFTC and Macatawa Bank announced that they have entered into a definitive merger agreement for Wintrust to acquire Macatawa in an all-stock transaction.
Intra-Cellular Therapies, Inc. ITCI rose 24.1% to $80.39 after the company announced Lumateperone 42 mg once daily as adjunctive therapy to antidepressants met its primary endpoint.
Cullinan Oncology, Inc. CGEM gained 20.4% to $19.93. The company announced its plan to expand into autoimmune diseases.
NextNav Inc. NN shares jumped 13.1% to $7.98.
Alignment Healthcare, Inc. ALHC rose 7.1% to $5.05. Alignment Healthcare is expected to release its first quarter 2024 financial results on May 2, after the closing bell.
Kenon Holdings Ltd. KEN gained 7% to $21.04.
Contineum Therapeutics, Inc. CTNM climbed 6.1% to $15.50.
Global Blue Group Holding AG GB gained 5.6% to $5.14.
Super Micro Computer, Inc. SMCI rose 5.4% to $930.00. Loop Capital analyst Ananda Baruah maintained Super Micro Computer with a Buy and raised the price target from $600 to $1,500.
Telefonaktiebolaget LM Ericsson ERIC gained 4.7% to $5.01 after the company reported better-than-expected first-quarter EPS results.
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