On this episode of Stock Movers:
- UnitedHealth (UNH) shares are down. The company unexpectedly replaced its chief executive and suspended earnings guidance, raising increasing questions over how the company once regarded as a safe bet by investors has got its cost predictions so wrong. UnitedHealth brought back Chairman and former CEO Stephen Hemsley for the top role, saying Andrew Witty has resigned “for personal reasons.” The health insurer, whose top insurance executive was murdered in New York last December, also ripped up its 2025 outlook.
- First Solar (FSLR) shares soared after JPMorgan analyst Mark Strouse said the US budget reconciliation bill is better than “the more bullish end of investor expectations” for solar, wind and geothermal firms. Strouse said First Solar is the “best positioned” name to benefit from the bill, which updates provisions of the Inflation Reduction Act.
- Simon Property Group (SPG) shares declined as much as 5.7% after the retail REIT reported first-quarter results. While the company maintained annual real estate funds from operation guidance, it expects results to “trend towards the middle of the range” due to current macro and tariff uncertainty. Citi said this could be below expectations given the strong first-quarter results.
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