Dow stocks are getting smacked again on disappointing news in the early going, but the rest of the market is hanging in. Crude oil, gold, and silver are all down a bit, while Treasuries and the dollar are modestly higher.
Yesterday, Walmart Inc. (WMT) helped dragged down markets. Shares of the retail giant sank more than 6% after its fiscal 2026 sales guidance disappointed investors. Today, UnitedHealth Group Inc. (UNH) is swinging the market axe. Shares of the mega-cap health insurance company were plunging more than 11% on a Wall Street Journal report that the Department of Justice is investigating its billing practices.
The DOJ is reportedly looking at UNH’s Medicare billing, including whether it recorded patient diagnoses that would trigger extra payments to its Medicare Advantage plans. The government was already suing to block UNH’s $3.3 billion takeover of Amedisys, citing antitrust concerns. The DOJ and UNH reportedly declined to comment to the WSJ.
WMT, CELH, UNH, COIN (YTD % Change)
Shares of Celsius Holdings Inc. (CELH) are...umm...ELECTRIC this morning after news of a $1.8 billion acquisition. The energy drink maker is buying Alani Nutrition, a female-focused health and wellness drink maker, to expand its product line. Demand among younger consumers has exploded for energy drinks, one reason why PepsiCo Inc. (PEP) took an 8.5% stake in CELH in 2022...and Keurig Dr. Pepper Inc. (KDP) said it would buy 60% of Ghost for $990 million in October 2024.
Finally, Coinbase Global Inc. (COIN) could be out of Securities and Exchange Commission (SEC) purgatory. The cryptocurrency trading platform said the SEC is dropping its lawsuit, which accused Coinbase of running an illegal exchange and brokerage. The move comes as the Trump Administration is executing a 180-degree turn on crypto policy, adopting pro-industry moves and disavowing steps taken by former SEC Chair Gary Gensler.
