UnitedHealth saw a remarkable surge as major funds, including Buffett's Berkshire Hathaway, invested heavily, alleviating fears from prior losses. Intel is in the spotlight too, with the government contemplating an equity stake to support the beleaguered chipmaker amid ongoing challenges. Meanwhile, Applied Materials struggles, while other companies like Roblox and Flowers Foods face economic headwinds. This episode dives deep into these intriguing market movements and the implications for investors.
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insights INSIGHT
Investor Stamp Boosts UnitedHealth
UnitedHealth's shares jumped sharply after major investors bought in despite company troubles and a federal probe.
Big-name investments gave the stock a welcome reprieve after a roughly 46% year-to-date decline.
insights INSIGHT
Government Talks Fuel Intel Rally
Intel rallied after reports the U.S. government is considering taking a stake using Chips Act funds to support domestic chipmaking.
The possible government involvement helped drive a multi-day surge, lifting sentiment for the embattled chipmaker.
question_answer ANECDOTE
OpenDoor CEO Departure Moves Shares
OpenDoor's CEO Carrie Wheeler stepped down from her roles, sparking share movement amid speculation.
The leadership change briefly lifted the stock to intraday highs before cooling off.
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- UnitedHealth (UNH) shares jumped after funds piled into the company, which has been hampered by a federal probe into its business practices and weakening results. Warren Buffett’s Berkshire Hathaway Inc. was among the investors, buying 5 million shares in the second quarter, according to a filing. David Tepper’s Appaloosa Management LP also invested, boosting its holdings of the health insurance giant by 2.3 million shares. The investments were a welcome reprieve for a company that had seen its stock fall 46% this year. The shares rose as much as 12.65% Friday, the most since March of 2020.
- Intel (INTC) were still rallying on word the Trump administration is considering buying a stake in the troubled chipmaker. The latest reporting from Bloomberg is that the US government is considering using funds from the US Chips Act to take a stake in Intel Corp., according to people familiar with the discussions, part of efforts to rescue the embattled chipmaker and shore up domestic semiconductor manufacturing. The government’s talks focus on using Chips Act funding to at least partially finance an equity stake in Intel, the people said, while emphasizing that discussions are in early stages and other options could be under consideration. It’s unclear if the approach would involve converting some or all of Intel’s existing Chips Act grants into equity, allocating new funding from a broader pool or combining Chips Act money with other financing streams.
- Applied Materials (AMAT) the largest American producer of chipmaking gear, plunged after giving a disappointing sales and profit forecast, renewing concerns that the US trade dispute with China is weighing on demand. Revenue will be approximately $6.7 billion in the fiscal fourth quarter, the company said in a statement Thursday. Analysts had estimated $7.32 billion on average. Profit will be about $2.11 a share, excluding some items, compared with a projection of $2.38. The company is seeing less demand from customers in China, Chief Executive Officer Gary Dickerson said in an interview. It also faces delays in approval for exporting technology to that country, he said. Moreover, large customers are putting off some purchases in the face of prolonged negotiations around tariffs and other economic issues.
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