"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
"This would be the most profound violation of the presidential oath of office certainly during this presidency," House Intelligence Chair Adam Schiff said.Politicsread more
A 58% majority of registered voters express unease about voting for Trump, but slightly more say the same about Joe Biden and Bernie Sanders, while Elizabeth Warren fares only...Politicsread more
UnitedHealth reported a first-quarter profit above estimates and raised its 2019 earnings forecast, driven by strength in its pharmacy benefit management business and higher enrollment for its health plans.
The largest U.S. health insurer's shares rose 2% to $235 in pre-market trading.
The industry bellwether, which is the first health insurer to report quarterly results, raised its full-year adjusted earnings forecast to between $14.50 and $14.75 per share from its prior view of $14.40 to $14.70.
"We find this notable, as UnitedHealth has historically been conservative in adjusting guidance early in the year," Cantor Fitzgerald analyst Steven Halper said.
The health insurance sector recorded its largest weekly share price decline last week since March 2009, as worries persist over proposed changes to the industry-wide system of rebates paid to insurers by drugmakers.
UnitedHealth continues to deliver consistent performance, but now the question is whether any rebound in shares can be sustained amid the political overhang that has plagued the sector, Evercore ISI analyst Michael Newshel said.
Optum, which is UnitedHealth's fastest-growing unit, brought in sales of $26.36 billion in the quarter, a jump of nearly 12% from a year earlier.
The rebates, integral to the business model of pharmacy benefit managers (PBMs) like UnitedHealth's Optum, have been a target of the Donald Trump administration that has prioritized lowering prescription drug prices in the country.
The unit benefited from growth in its care delivery, behavioral health and health financial services, the company said.
UnitedHealth's medical care ratio, which compares premiums with the cost of delivering medical care, worsened to 82%, from 81.4% last year, on deferral of the health insurance tax, the company said. Analysts on average were expecting 82.2 percent.
In the quarter ended March 31, net earnings attributable to UnitedHealth's shareholders rose 22.2% to $3.47 billion, or $3.56 per share, driven by the addition of 880,000 more members to its health plans.
The company reported adjusted earnings of $3.73 per share, beating estimates of $3.60 per share, according to IBES data from Refinitiv.
Total revenue rose 9.3% to $60.31 billion, ahead of estimates of $59.7 billion.