US stocks set to open lower as investors continue to worry about the coronavirus pandemic's impact on the economy. Here's what's moving markets today:
UnitedHealth still on track for improved earnings, as coronavirus has only a 'minimal impact' on first quarterUnitedHealth Group Inc. headquarters is pictured in Minnetonka, Minnesota, in 2016. Mike Bradley/Bloomberg/Getty Images
UnitedHealth Group, the nation's largest health insurer, said its results aren't being hurt by the COVID-19 outbreak. The insurer said the pandemic had only"minimal impact" on its first quarter results, as it reported a 7% gain in revenue in the quarter to $64 billion. And while its profit and earnings per share declined slightly, it beat Wall Street estimates for a bigger decline.
At a time when many companies are dropping their guidance on earnings for the rest of year, UnitedHealth reiterated its guidance for between an 8% and 10% rise in adjusted earnings per share for the year. It said it will not request, nor does it expect to need any government assistance.gained 2.6% in premarket trading on the news. Shares are down 8% so far this year through Tuesday's close.
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