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UnitedHealth’s stock jumps after earnings rise above expectations, and guidance raised

Shares of UnitedHealth Group Inc. shot up 2.7% in premarket trading Tuesday, after the health care services company reported third-quarter profit and revenue that rose above expectations and raised its full-year outlook. Net income grew to $3.54 billion, or $3.67 a share, from $3.19 billion, or $3.24 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to $3.88 from $3.41, above the FactSet consensus of $3.75. Total revenue increased 6.7% to $60.35 billion, topping the FactSet consensus of $59.78 billion, as premiums revenue rose 6.2% to $47.40 billion to beat expectations of $47.05 billion. The company raised its 2019 EPS guidance range to $14.90 to $15.00 from $14.70 to $14.90. The stock has tumbled 17.1% over the past three months through Monday while the Dow Jones Industrial Average has slipped 2.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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