Stock Movers: UnitedHealth, Apple, GE Aerospace
UnitedHealth, Apple, and GE Aerospace were among the biggest stock movers, with UnitedHealth's profit beating expectations and GE Aerospace's sales surging due to strong air travel demand. Apple's shares declined after Tim Cook announced his plans to step down as CEO.
UnitedHealth's first-quarter profit exceeded Wall Street expectations, boosting its outlook for the year. The company's revenue topped analysts' views, and its medical-loss ratio was more favorable than anticipated. Shares rallied in Tuesday trading. Apple shares declined after Tim Cook announced he would step down as CEO to become executive chairman on September 1, with hardware chief John Ternus taking over. GE Aerospace's first-quarter profit beat expectations, driven by strong demand for air travel, which pushed sales up nearly 30% from a year ago. The company's adjusted earnings were $1.86 a share, above the $1.60 expected by analysts.
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