UnitedHealth’s Report Card, Dell Delays LBO Vote, and 3 More Hot Stocks
UnitedHealth Group (NYSE:UNH): Earnings per share of $1.40 beat by 15 cents, though revenue of $30.4 billion missed projections by a scant $0.08 billion. Net profit saw a 7.5 percent rise to $1.44 billion and insurance revenue also grew, by 11 percent to $28.33 billion. The Optum segment, which provides services like technology outsourcing and pharmacy benefits management, rose 21 percent to $8.8 billion. The company has also lifted the lower end of its 2013 earnings per share guidance range, and now expects $5.35 to $5.50 versus the consensus $5.44 while it still forecasts revenue of $122 billion against a consensus of $122.48 billion.
Dell Inc. (NASDAQ:DELL): Without enough votes to pass the buyout deal early this morning, Dell has delayed the shareholder vote on founder Michael Dell’s $13.65 per share buyout offer until Wednesday, as expected from a report that signaled the committee would delay the vote if the leveraged buyout offer was threatened by an early vote tally.
SUPERVALU Inc. (NYSE:SVU): Shares are ripping over 17 percent on news that the company achieved earnings per share of 14 cents, 4 cents over projections, though revenue fell slightly to $5.16 billion, off $0.01 billion. CEO Sam Duncan is “pleased” with the quarter-over-quarter improvement in sales trends, though the independent business, Save-A-Lot, and retail food segments posted year-over-year sales declines of 0.6 percent, 1.6 percent, and 2.9 percent, respectively.
Hewlett-Packard (NYSE:HPQ): Hewlett-Packard has declared a 14.52-cent per share quarterly dividend with a forward yield of 2.2 percent for shareholders of record on September 11. It’s payable on October 2, with an ex-dividend date of September 9.
Celgene Corp. (NASDAQ:CELG): Celgene shares are down after the company ceased operations on a Phase III trial of its Revlimid blood cancer drug after a higher number of deaths among patients who were taking the drug was reported than among those taking a placebo. The trial was testing Revlimid on previously untreated elderly patients with B-cell chronic lymphocytic leukemia.