"UnitedHealth Group tumbled 19.1% despite reporting a profit for the latest quarter that was a bit better than analysts expected. More attention was on the company's forecast for revenue in the upcoming year, which fell short of Wall Street's expectations and could be weaker than it was in 2025. It and other health care companies also felt tremendous pressure from a projected rate increase for Medicare Advantage by the U.S. government, which fell well short of what investors had hoped."
"Helping to keep the market in check was Corning, which climbed 15.5% after announcing a deal with Meta Platforms that's worth up to $6 billion. Corning will supply optical fiber and cable to help build out data centers for Meta, enough that Corning is expanding its optical-fiber manufacturing facility in Hickory, North Carolina. Also supporting the U.S. stock market were gains for General Motors, which rose 9%, and hospital-operator HCA Healthcare, which rallied 11.1%."
The S&P 500 rose 0.5% and neared its all-time high while more stocks inside the index fell than rose. The Dow was down about 288 points and the Nasdaq was roughly 1% higher midday. UnitedHealth plunged after revenue guidance disappointed, and Medicare Advantage rate projections pressured Humana, Elevance Health and CVS Health. Corning surged after a potential up-to-$6 billion Meta fiber and cable deal and is expanding a North Carolina plant. General Motors and HCA Healthcare posted stronger-than-expected profits and approved large share buyback programs, supporting market gains.
Read at Fortune
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