UnitedHealth Group saw its shares jump over 7% in early trading after delivering stronger-than-anticipated second-quarter results. The health insurer reported adjusted earnings of $6.38 per share on $112.03 billion in revenue, surpassing Wall Street expectations of $4.90 per share and $110.85 billion in revenue. The company also raised its full-year earnings guidance.
Taiwan Semiconductor Manufacturing (TSMC) declined 4% despite posting second-quarter earnings that exceeded forecasts. The semiconductor leader increased its capital expenditure outlook for the year to $60 billion–$64 billion, up from its prior forecast of $52 billion–$56 billion, and announced plans for an additional $100 billion investment in Arizona.
Psychedelic drug developer Atai Life Sciences soared 34.5% after Eli Lilly agreed to acquire the company for $2.8 billion, or $6.75 per share in cash—26% above its previous closing price. The deal includes potential additional payments of $2.50 per share contingent on regulatory and clinical milestones.
GE Aerospace shares fell 4% even after the company topped earnings and revenue expectations. Adjusted earnings came in at $2.02 per share on $12.63 billion in revenue, compared to analyst estimates of $1.86 per share and $11.86 billion. The firm also revised its full-year guidance upward.
United Airlines dropped over 3% amid mixed results. While the airline beat earnings estimates, it issued cautious third-quarter guidance of $2.50–$3.50 per share, below the $3.53 per share analysts projected. The carrier also cited expected fuel cost increases of $6 billion.
J.B. Hunt Transport Services rose nearly 7% after reporting earnings of $1.73 per share, 18 cents above estimates, on $3.5 billion in revenue that matched expectations. The company highlighted growing demand for intermodal services during the quarter.
AeroVironment gained almost 2% following a Raymond James upgrade from market perform to outperform, citing recovering bookings and an expanding backlog.
Rocket Companies added 2% after Morgan Stanley lifted its price target to $19, suggesting 30% upside potential from Wednesday’s close and reaffirming its buy rating.
