UnitedHealth Group plunges 17% as Justice Department opens Medicare fraud probe
The post UnitedHealth Group plunges 17% as Justice Department opens Medicare fraud probe appeared on BitcoinEthereumNews.com. UNH stock sinks 17% after a Wall Street Journal article. The Journal alleges that Justice Department fraud investigators are close to charging the company. US Retail Sales for April rise just 0.1% MoM. UNH stock sinks to $253, a five-year low. UPDATED: When it rains, it pours, folks! UnitedHealth Group (UNH) stock is facing its fourth single-session sell-off exceeding 5% in a month on Thursday after the US Justice Department opened a criminal fraud investigation against the nation’s largest private health insurer. UNH stock is trading about 17.5% lower on Thursday morning, while its primary index, the Dow Jones Industrial Average (DJIA), sheds some recent gains in light of slowing consumer spending. US Retail Sales for April were released early Thursday, and they show a sharp reduction in spending power. The topline figure showed 0.1% growth on a monthly basis, which was technically better than the 0.0% expectation, but was down from the revised 1.4% monthly gain seen in March. The US Retail Sales Control Group arrived at -0.2% compared with March’s 0.5%. Additionally, in the company’s quarterly earnings call, Walmart (WMT) CEO Doug McMillon told analysts that the magnitude of cost increases from suppliers owing to the Trump administration’s tariff policy would lead to higher prices for consumers. UnitedHealth Group stock news The Wall Street Journal published a story late Wednesday concerning the Department of Justice (DOJ) opening a probe of UnitedHealth’s Medicare Advantage business. Medicare Advantage is the privately-managed healthcare program for US seniors that is funded by the US government’s Medicare platform. UnitedHealth has the largest Medicare Advantage program in the country, with more than 8.2 million enrollees and manages roughly ~30% of all Medicaid Advantage plans. The details of the probe were sparse, and the DOJ has remained mum about its investigation thus far, but the…
The post UnitedHealth Group plunges 17% as Justice Department opens Medicare fraud probe appeared on BitcoinEthereumNews.com.
UNH stock sinks 17% after a Wall Street Journal article. The Journal alleges that Justice Department fraud investigators are close to charging the company. US Retail Sales for April rise just 0.1% MoM. UNH stock sinks to $253, a five-year low. UPDATED: When it rains, it pours, folks! UnitedHealth Group (UNH) stock is facing its fourth single-session sell-off exceeding 5% in a month on Thursday after the US Justice Department opened a criminal fraud investigation against the nation’s largest private health insurer. UNH stock is trading about 17.5% lower on Thursday morning, while its primary index, the Dow Jones Industrial Average (DJIA), sheds some recent gains in light of slowing consumer spending. US Retail Sales for April were released early Thursday, and they show a sharp reduction in spending power. The topline figure showed 0.1% growth on a monthly basis, which was technically better than the 0.0% expectation, but was down from the revised 1.4% monthly gain seen in March. The US Retail Sales Control Group arrived at -0.2% compared with March’s 0.5%. Additionally, in the company’s quarterly earnings call, Walmart (WMT) CEO Doug McMillon told analysts that the magnitude of cost increases from suppliers owing to the Trump administration’s tariff policy would lead to higher prices for consumers. UnitedHealth Group stock news The Wall Street Journal published a story late Wednesday concerning the Department of Justice (DOJ) opening a probe of UnitedHealth’s Medicare Advantage business. Medicare Advantage is the privately-managed healthcare program for US seniors that is funded by the US government’s Medicare platform. UnitedHealth has the largest Medicare Advantage program in the country, with more than 8.2 million enrollees and manages roughly ~30% of all Medicaid Advantage plans. The details of the probe were sparse, and the DOJ has remained mum about its investigation thus far, but the…
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