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

Author: Avi Kapoor | July 16, 2024 11:09am

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

Shares of UnitedHealth Group Incorporated (NYSE: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 (NYSE:LPA) shares surged 53.8% to $23.71.
AngioDynamics, Inc. (NASDAQ: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. (NYSE: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. (NASDAQ:EGHT) rose 13.3% to $2.8450. 8×8. secured a $200 million term loan at reduced interest rate.
Fate Therapeutics, Inc. (NASDAQ:FATE) climbed 12.8% to $4.39.
Pacific Biosciences of California, Inc. (NASDAQ: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. (NASDAQ:NEGG) rose 11.8% to $1.14.
Harmony Gold Mining Company Limited (NYSE:HMY) climbed 11.8% to $10.57
ServisFirst Bancshares, Inc. (NASDAQ: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. (NYSE:UP) rose 10.3% to $3.98.
Janux Therapeutics, Inc. (NASDAQ:JANX) jumped 9.7% to $47.69.
Novavax, Inc. (NASDAQ:NVAX) rose 8.1% to $16.34.
Match Group, Inc. (NASDAQ: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. (NASDAQ:ARVN) shares climbed 7.7% to $32.27.
Dream Finders Homes, Inc. (NYSE:DFH) rose 7.5% to $30.29.
Shopify Inc. (NYSE:SHOP) shares gained 7.3% to $68.92 after B of A Securities upgraded the stock from Neutral to Buy.
Tempus AI, Inc (NASDAQ: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. (NASDAQ: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 (NYSE:SMG) rose 5.7% to $65.56.
Bank of America Corporation (NYSE:BAC) rose 5% to $43.99 following upbeat quarterly results.
American Airlines Group Inc. (NASDAQ:AAL) gained 4.7% to $11.13.