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UnitedHealth Stock Plunges After Cutting Annual Forecast
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- 00:00WITH YOU, THE TREMENDOUS RESOURCE FOR TECHNOLOGY AND ROCKET NEWS. YOU CAN WATCH HIM EVERY DAY AT 11 A.M. ON “BLOOMBERG TECHNOLOGY.” TODAY IN UNITED HEALTH, THE STOCK POSTED A MASSIVE PLUNGE. HERE WITH MORE IS DAMIEN. JUST TELL US WHAT LED TO THIS. THEY LOST THE FIFTH OF THEIR VALUE IN TODAY ALONE. DAMIEN: UNITED MR. ESTIMATES FOR THE FIRST TIME IN A DECADE, STAGGERING BY ITSELF. WHAT WE ARE SEEING IN THE TO REACTION IS THAT THIS IS PERCEIVED AS AN ON — ON A MISSED — ON — OMINOUS SIGN. UNITED IS SEEN AS A BELLWETHER. ON TOP OF THAT, YOU HAVE THE GROWING CONCERN ABOUT HOW THE GOVERNMENT IS CRACKING DOWN ON MEDICARE ADVANTAGE PLANS. IT’S A HUGE PART OF THEIR BUSINESS AND HEALTH CARE IN THIS COUNTRY. WE HAVE SEEN THOSE THINGS COMING TO PASS OVER THE PAST YEAR. AND THEN WE SAW DR. OZ, THE INCOMING HEAD OF THE MEDICARE HEARING, TAKING A FIERY STANCE ON THE THINGS THAT UNITED COUNTS ON TO MAKE BUSINESS. DANI: LESS THAN ONE MINUTE LEFT, BUT ELI LILLY, OPPOSITE SIDE OF THE TRADE, UP 16%. WHAT DO WE KNOW ABOUT THE WEIGHT LOSS PILL? DAMIAN: THEY HAD PICTURE-PERFECT CLINICAL DATA FROM AN IN DEVELOPMENT PILL THAT WOULD MATCH WHAT WE SEE IN SOMETHING LIKE OZEMPIC BUT IN A DAILY ORAL MEDICINE, KIND OF THE HOLY GRAIL PRODUCT.
