Wall Street Brief: UnitedHealth Profit Beats the Street, Intel and IBM Earnings on Deck

UnitedHealth’s (NYSE:UNH) third quarter net profit rose 28 percent to $1.6 billion and its $1.50 earnings per share exceeded forecasts, but the 8 percent revenue increase to $27.3 billion missed estimates. Sales growth was helped by rise of 2.15 million consumers served over last year, with 670,000 new ones last quarter. UnitedHealth increased it 2012 earnings per share outlook to $5.20-$5.25, higher than the $5.10 consensus.

Intel (NASDAQ:INTC) and IBM (NYSE:IBM) will release their third quarter earnings after the bell and are expected to have contrasting numbers. Analysts have estimated that Intel’s earnings per share will drop to $0.50 from $0.65 from the previous year with revenue falling 7.1 percent to $13.23 billion. IBM’s earnings per share is expected to rise to $3.61 from $3.28 but revenue will fall 3 percent to $25.36 billion.

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A123 Systems (NASDAQ:AONE) may not have enough cash to fund its operations and could seek bankruptcy protection. While the company received a $249 million government grant, it did not pay the approximately $143 million of interest payments on its material debt agreements due on Monday.

Japanese banks Sumitomo Mitsui (NYSE:SMFG), Mitsubishi UFJ (NYSE:MTU) and Resona (RSNHF.PK) have come together and will give Panasonic (NYSE:PC) $7.6 billion of loan commitments; this will enable the company to dodge raising money in the markets. Sumitomo and Mitsubishi are also supposedly assisting Softbank (SFTBF.PK) to finance its $20.1 billion Sprint (NYSE:S) acquisition.

Bridgepoint Education (NYSE:BPI) tanked as high as 13 percent in post-market trading on Monday after company said the Department of Justice is investigating them regarding its admissions staff compensation. They have come under attention since July after the Western Association of Schools & Colleges said that Bridgepoint’s Ashford University spends greater money on recruiting students than educating them.

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