Wall Street Breakfast Medicare probe hits UnitedHealth shares
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May 15, 2025 UnitedHealth is under investigation by the Department of Justice for potential Medicare fraud, causing a dip in its stock prices. In corporate news, Dick's Sporting Goods is close to acquiring Foot Locker, which could represent a savvy move if they negotiate well. Warren Buffett shares his thoughts on passing the torch at Berkshire Hathaway, stirring interest in leadership changes. Meanwhile, Apple faces pressure from Trump regarding its manufacturing decisions in India, while China's easing of rare earth mineral exports to the U.S. has implications for tech industries.
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UnitedHealth Medicare Probe Impact
- UnitedHealth Group faces a DOJ Medicare fraud probe focused on its Medicare Advantage business.
- This investigation has pressured UNH shares, dropping 8% after-hours and 5% pre-market.
Dick's Sporting Goods Foot Locker Deal
- Foot Locker shares surged over 68% pre-market due to acquisition talks with Dick's Sporting Goods.
- Dick's is offering $24 per share, valuing the deal at $2.3 billion, with a potential quick close.
Buffett's CEO Stepping Story
- Warren Buffett decided to step down as Berkshire Hathaway CEO after feeling the irreversible effects of aging around 90.
- His decision surprised many, including successor Greg Abel, as Buffett was expected to remain CEO for life.