On this episode of Stock Movers:
- Apple (APPL) shares are moving on news that Chief Operating Officer Jeff Williams is retiring with the company's longtime No. 2, with Sabih Khan replacing him as COO. Williams will step down as COO this month and retire from the company later in the year, continuing to oversee the design team and manage health initiatives until his departure. Khan, a 30-year veteran of Apple, will report to Chief Executive Officer Tim Cook and likely add divisions like AppleCare to his existing operations, contending with challenges such as tariff costs and slowing iPhone growth.
- UnitedHealth Group (UNH) is lower this morning after the DOJ's criminal healthcare fraud unit intensified its investigation into the company's Medicare billing practices, focusing on how it leveraged doctors and nurses to boost government payments. The probe began at least a year ago and is now drawing fresh scrutiny as former employees speak with federal investigators. The Wall Street Journal reported that former UnitedHealth employees told investigators that the company encouraged the capture of certain lucrative diagnoses during patient assessments.
- Meta (META) shares are moving after it bought a minority stake in EssilorLuxottica SA, deepening the US tech giant's commitment to the smart glasses industry, according to people familiar with the matter. The deal aligns with Meta CEO Mark Zuckerberg's commitment to AI and gives Meta the advantage of having more detailed manufacturing knowledge and global distribution networks, fundamental to turning its smart glasses into mass-market products.
See omnystudio.com/listener for privacy information.
