UnitedHealth Posts Better-Than-Expected Earnings, Joins AngioDynamics, Bank of America And Other Big Stocks Moving Higher On Tuesday

U.S. stocks were mostly higher, with the Dow Jones index gaining around 550 points on Tuesday.

Shares of UnitedHealth Group Incorporated UNH rose sharply during Tuesday's session following a second-quarter earnings beat.

The company reported adjusted EPS of $6.80, up from $6.14 a year ago, beating the consensus of $6.66, according to data from Benzinga Pro. UnitedHealth’s revenues increased nearly $6 billion (+6.4% Y/Y) to $98.86 billion, beating the consensus of $98.34 billion, led by expansion in people served domestically at Optum and UnitedHealthcare.

UnitedHealth Group shares gained 5.7% to $544.96 on Tuesday.

Here are some other big stocks recording gains in today’s session.

• Logistic Properties of the Americas LPA shares surged 53.8% to $23.71.
• AngioDynamics, Inc. ANGO shares gained 24.7% to $7.39 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance.
• Chegg, Inc. CHGG jumped 15% to $3.6440. Morgan Stanley analyst Josh Baer upgraded Chegg from Underweight to Equal-Weight and lowered the price target from $6.5 to $3.25.
• 8×8, Inc. EGHT rose 13.3% to $2.8450. 8×8. secured a $200 million term loan at reduced interest rate.
• Fate Therapeutics, Inc. FATE climbed 12.8% to $4.39.
• Pacific Biosciences of California, Inc. PACB gained 12.8% to $1.8350. PacBio is expected to hold its quarterly conference call to discuss its second quarter financial results on Wednesday, Aug. 7.
• Newegg Commerce, Inc. NEGG rose 11.8% to $1.14.
• Harmony Gold Mining Company Limited HMY climbed 11.8% to $10.57
• ServisFirst Bancshares, Inc. SFBS gained 10.8% to $78.60 after the company reported better-than-expected second-quarter financial result. Also, Piper Sandler maintained a Neutral rating on the stock and raised its price target from $63 to $70.
• Wheels Up Experience Inc. UP rose 10.3% to $3.98.
• Janux Therapeutics, Inc. JANX jumped 9.7% to $47.69.
• Novavax, Inc. NVAX rose 8.1% to $16.34.
• Match Group, Inc. MTCH gained 7.9% to $34.54 after Starboard Value sent a letter to the company outlining initiatives for improving growth, profitability and capital allocation.
• Arvinas, Inc. ARVN shares climbed 7.7% to $32.27.
• Dream Finders Homes, Inc. DFH rose 7.5% to $30.29.
• Shopify Inc. SHOP shares gained 7.3% to $68.92 after B of A Securities upgraded the stock from Neutral to Buy.
• Tempus AI, Inc TEM rose 7% to $39.15. Tempus expanded immuno-oncology portfolio with the launch of AI-enabled, multimodal immune profile algorithmic tests.
• Newell Brands Inc. NWL gained 6.7% to $6.70. Newell Brands is expected to release its second quarter 2024 earnings results on Friday, July 26.
• The Scotts Miracle-Gro Company SMG rose 5.7% to $65.56.
• Bank of America Corporation BAC rose 5% to $43.99 following upbeat quarterly results.
• American Airlines Group Inc. AAL gained 4.7% to $11.13.

Now Read This:

• Top 3 Health Care Stocks That Should Keep You Up At Night This Quarter