Morning Movers: UnitedHealth plummets following Q1 results and guidance cut

Stock index futures showed modest gains in early trading, lifted in part by strength in Eli Lilly (LLY) and a rebound in some tech names, while the Dow was dragged sharply lower by a collapse in UnitedHealth Group (UNH) shares. 

On the macro front, traders are digesting Jerome Powell’s latest remarks. The Fed chair signaled a cautious stance on rates, warning that ongoing tariff battles could prolong inflation and complicate monetary policy. In short, don’t count on a rate cut anytime soon.

Globally, the tone is mixed. European markets are softer, weighed down by an ECB rate cut, while Asian equities posted modest gains. Japan’s Nikkei jumped over one percent after the nation held trade talks with the U.S.

Bitcoin continues to hover near $84,700, and gold remains firm as investors hedge their bets in this uncertain environment. Oil is pushing higher again, adding to inflation concerns, while the dollar is showing some strength.

In pre-market trading, S&P 500 futures rose 0.52%, Nasdaq futures rose 0.79% and Dow futures fell 1.47%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly. 

HIGHER –

• Eli Lilly (LLY) up 12% after announcing results from ACHIEVE-1, evaluating the safety and efficacy of orforglipron compared to placebo in adults with type 2 diabetes and inadequate glycemic control with diet and exercise alone

UP AFTER EARNINGS –

• Charles Schwab (SCHW) up 3%
• Blackstone (BX) up 2%
• TSMC (TSM) up 2%
• Truist Financial (TFC) up 1%
• KeyCorp (KEY) up 1%
• Ally Financial (ALLY) up 1%

DOWN AFTER EARNINGS –

• UnitedHealth (UNH) down 20%
• State Street (STT) down 3%
• D.R. Horton (DHI) down 2%
• American Express (AXP) down 1%

LOWER –

• Global Payments (GPN) down 8% after reporting definitive agreements to divest its Issuer Solutions business to FIS for $13.5B and acquire Worldpay from GTCR and FIS for a net purchase price of $22.7B, or total value of $24.25B including $1.55B of anticipated tax assets