Elevance Health, Inc., together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits. The company operates in the pharmacy services business; and markets and offers pharmacy services, including pharmacy benefit management, as well as home delivery and specialty pharmacies, claims adjudication, formulary management, pharmacy networks, rebate administration, a prescription drug database, and member services. In addition, it provides healthcare-related services and capabilities, including utilization management, behavioral health, integrated care delivery, palliative care, payment integrity services, subrogation services, and health and wellness programs, as well as services related to data management, information technology, and business operations. Further, the company is involved in the National Government Services business. The company provides its services under the Anthem Blue Cross and Blue Shield, Wellpoint, and Carelon brand names. The company was formerly known as Anthem, Inc. and changed its name to Elevance Health, Inc. in June 2022. Elevance Health, Inc. was incorporated in 2001 and is headquartered in Indianapolis, Indiana.

Elevance Health, Inc.

Universal Health Services, Inc. UHS reported third-quarter 2025 adjusted earnings per share (EPS) of $5.69, which outpaced the Zacks Consensus Estimate by 22.1%. The bottom line soared 53.4% year over year.
Net revenues of $4.5 billion improved 13.4% year over year. The top line beat the consensus mark by 4.2%.
The quarterly results benefited from strong top-line growth driven by robust performance in both Acute Care and Behavioral Health segments. Increased adjusted admissions and improved patient days boosted segmental revenues. However, the upside was partly offset by elevated operating costs.
Universal Health Services, Inc. Price, Consensus and EPS Surprise
UHS’ Quarterly Operational Update
Adjusted EBITDA, net of NCI, rose 27.4% year over year to $670.6 million, higher than our estimate of $577.4 million.
Total operating costs came in at $4 billion, which escalated 11% year over year in the quarter under review due to higher salaries, wages and benefits, supplies and other operating expenses. The metric came higher than our estimate of $3.9 billion.
UHS’ Segmental Update
Acute Care Hospital Services
Adjusted admissions (adjusted for outpatient activity) grew 2% on a same-facility basis in the third quarter. Adjusted patient days inched up 0.4% year over year, while net revenue per adjusted admission advanced 9.8%. Net revenues stemming from Universal Health’s acute care services improved 12.8% on a same-facility basis.
Behavioral Health Care Services
Adjusted admissions inched up 0.5% on a same-facility basis. Adjusted patient days rose 1.3% on a same-facility basis, while net revenue per adjusted patient day advanced 7.9%. Net revenues derived from UHS’ behavioral healthcare services improved 9.3% on a same-facility basis.
Financial Update of UHS (As of Sept. 30, 2025)
Universal Health exited the third quarter with cash and cash equivalents of $112.9 million, which fell 10.4% from the 2024-end level. As part of its $1.3 billion revolving credit facility, net of outstanding borrowings and letters of credit, there remains an aggregate available borrowing capacity of $965 million at the third-quarter end.
Total assets of $15.3 billion increased 6% from the figure at 2024-end.
Long-term debt amounted to $4 billion, which declined 11.5% from the prior-year comparable period. Current maturities of long-term debt totaled $740.2 million.
Total equity of $7.2 billion advanced 7.1% from the 2024-end figure.
UHS generated cash flows from operations of $1.3 billion for the first nine months of 2025, which slipped 8.4% from the prior-year comparable period.
UHS’ Share Repurchase Update
Universal Health bought back shares worth around $234.3 million in the third quarter.
On Oct. 27, 2025, management approved a $1.5 billion increase to the existing stock repurchase program. Including this latest authorization, the total remaining authorization available under the program now stands at $1.8 billion.
2025 Guidance of Universal Health Revised
Management currently forecasts net revenues within $17.306-$17.445 billion, higher than the earlier view of $17.096-$17.312 billion. The mid-point of the revised guidance implies 9.8% growth from the 2024 figure.
Adjusted EBITDA, net of NCI, is now anticipated to be in the range of $2.569-$2.619 billion, up from the previous forecast of $2.458-$2.543 billion. Adjusted net income attributable to UHS is forecasted within $1.382-$1.420 billion.
EPS is presently expected in the band of $21.50-$22.10, higher than the earlier guidance of $20-$21. The mid-point of the revised outlook suggests 31.2% growth from the 2024 figure.
Depreciation and amortization expenses are anticipated to be $617.4 million. Interest expenses are estimated at $151.9 million. Provisions for income taxes are expected in the range of $434.352-$446.316 million.
Capital expenditures were earlier expected to be between $850 million and $1 billion.
UHS’ Zacks Rank
Universal Health currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Medical Sector Releases
Of the Medical sector players that have reported third-quarter 2025 results so far, the bottom-line results of Elevance Health, Inc. ELV, HCA Healthcare, Inc. HCA and Intuitive Surgical, Inc. ISRG beat the respective Zacks Consensus Estimate.
Elevance Health reported third-quarter 2025 adjusted EPS of $6.03, which surpassed the Zacks Consensus Estimate by 21.1%. The bottom line dropped 29.9% year over year. Operating revenues advanced 12% year over year to $50.1 billion. The top line beat the consensus mark by 1.2%. Medical membership of Elevance Health was around 45.4 million as of Sept. 30, 2025, which dipped 0.9% year over year. Premiums totaled $41.8 billion in the quarter under review, which improved 13.5% year over year.
Product revenues grew 4.6% year over year to $6.2 billion. Operating expense ratio came in at 10.5%, which improved 130 bps year over year. The benefit expense ratio deteriorated 180 bps year over year to 91.3%. The Health Benefits unit recorded operating revenues of $42.2 billion in the third quarter, which rose 10% year over year. The Carelon segment’s operating revenues soared 33% year over year to $18.3 billion in the quarter under review.
HCA Healthcare’s third-quarter 2025 adjusted EPS of $6.96 surpassed the Zacks Consensus Estimate by 23.2%. The bottom line improved 42% year over year. Revenues were $19.2 billion, which advanced 9.6% year over year. The top line beat the consensus mark by 3.6%. Same-facility equivalent admissions advanced 2.4% year over year in the third quarter, while same-facility admissions increased 2.1%. Same-facility revenue per equivalent admission advanced 6.6% year over year.
Same-facility inpatient surgeries rose 1.4% year over year, while same-facility outpatient surgeries grew 1.1%. Additionally, same-facility emergency room visits inched up 1.3% year over year in the quarter under review. Adjusted EBITDA improved 18.5% year over year to $3.9 billion. HCA Healthcare operated 191 hospitals and roughly 2,500 ambulatory sites of care across 20 states and the United Kingdom as of Sept. 30, 2025.
Intuitive Surgical reported third-quarter 2025 adjusted EPS of $2.40, which beat the Zacks Consensus Estimate of $1.99 by 20.6%. The bottom line improved 30.4% year over year. The company reported revenues of $2.51 billion, up 23% year over year, as well as at constant currency. The top line beat the Zacks Consensus Estimate by 3.9%. Revenues from the Instruments & Accessories segment totaled $1.52 billion, indicating a year-over-year improvement of 20.1%.
The Systems segment’s revenues totaled $590.4 million, up 32.7% year over year. Intuitive Surgical shipped 427 da Vinci Surgical Systems compared with 379 in the prior-year quarter. The company placed 263 systems in the United States and 164 in international markets. Adjusted gross profit was $1.70 billion, up 21% year over year. As a percentage of revenues, the gross margin was 68%, down approximately 110 bps from the prior-year quarter’s figure. Adjusted operating income totaled $975.9 million, up 29.2% year over year.
Quantum Computing Stocks Set To Soar
Artificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.
Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.
Access the Report Free Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Universal Health's Q3 Earnings Top on Patient Volumes, Ups '25 EPS View

The S&P 500 Index ($SPX) (SPY) today is up +0.32%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.33%. December E-mini S&P futures (ESZ25) are up +0.35%, and December E-mini Nasdaq futures (NQZ25) are up +0.35%.
Stock indexes are moving higher today, led by strength in energy producers after WTI crude oil jumped more than +5% when the US blacklisted state-run Rosneft PJSC and Lukoil PJSC, Russia's largest oil producers, which threatens to tighten global oil supplies. Also, Dow Inc. is up more than +11% after reporting stronger-than-expected Q3 adjusted operating Ebitda. In addition, Honeywell International is up more than +5% after reporting better-than-expected Q3 sales.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the negative side, Molina Healthcare is down more than -20% to lead health insurers lower after cutting its full-year adjusted EPS forecast. Also, International Business Machines is down more than -4% after reporting a smaller-than-expected increase in its Q3 hybrid cloud unit. In addition, Tesla is down more than -3% after reporting Q3 EPS below consensus.
Late Wednesday, the Trump administration announced sanctions on Rosneft PJSC and Lukoil PJSC, Russia's biggest oil producers, due to "Russia's lack of serious commitment to a peace process to end the war in Ukraine." The new sanctions could bar foreign countries or companies from conducting business with the oil companies and cut them off from much of the international financial system.
The markets are focusing on progress in US-China trade talks, as President Trump reiterated his threat on Monday to boost tariffs on Chinese goods "if there isn't a deal" by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next week on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
The shutdown of the US government continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last four weeks of weekly initial unemployment claims and the September payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 99% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.17%. China's Shanghai Composite closed up +0.22%. Japan's Nikkei Stock 225 closed down -1.35%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -8 ticks. The 10-year T-note yield is up +3.4 bp to 3.984%. T-notes are under pressure today due to inflation concerns, as a +5% surge in WTI crude oil prices has boosted inflation expectations and pushed the 10-year breakeven inflation rate up to a 1-week high of 2.309%. Also, supply pressures are negative for T-notes as the Treasury will auction $26 billion of 5-year TIPS later today.
T-notes have ongoing support due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are moving higher today. The 10-year German bund yield is up +1.6 bp to 2.579%. The 10-year UK gilt yield is up +0.8 bp to 4.425%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Energy stocks and energy service providers are climbing today, with the price of WTI crude oil up more than +5% at a 2-week high. APA Corp (APA) is up more than +6% and Valero Energy (VLO) is up more than +5%. Also, Diamondback Energy (FANG) and Devon Energy (DVN) are up more than +4%, and Occidental Petroleum (OXY) and ConocoPhillips (COP) are up more than +3%. In addition, Halliburton (HAL), Phillips 66 (PSX), and Baker Hughes (BKR) are up more than +2%.
Quantum-computing stocks are rallying today after the Wall Street Journal reported that the firms are in talks to give the Commerce Department equity stakes in exchange for federal funding. As a result, IonQ (IONQ), Rigetti Computing (RGTI), D-Wave Quantum (QBTS), and Quantum Computing (QUBT) are up more than +6%.
Molina Healthcare (MOH) is down more than -20% to lead health insurers lower and losers in the S&P 500 after cutting its full-year adjusted EPS forecast to $14.00 from a previous estimate of $19.00, well below the consensus of $18.65. Also, Centene (CNC) and Oscar Health (OSCR) are down more than -7%. In addition, Humana (HUM) is down -2%, and Elevance Health (ELV), United Health Services (UHS), and UnitedHealth Group (UNH) are down more than -1%.
West Pharmaceutical Services (WST) is up more than +12% to lead gainers in the S&P 500 after raising its full-year adjusted EPS estimate to $7.06-$7.11 from a previous forecast of $6.65-$6.85.
Dow Inc. (DOW) is up more than +11% after reporting Q3 adjusted operating Ebitda of $868 million, well above the consensus of $759.7 million.
Las Vegas Sands (LVS) is up more than +9% after reporting Q3 net revenue of $3.33 billion, above he consensus of $3.04 billion.
Honeywell International (HON) is up more than +5% to lead gainers in the Dow Jones Industrials and Nasdaq 100 after reporting Q3 sales of $10.41 billion, stronger than the consensus of $10.15 billion.
TransUnion (TRU) is up more than +3% after reporting Q3 adjusted EPS of $1.10, better than the consensus of $1.05.
CME Group (CME) is up more than +1% after Deutsche Bank upgraded the stock to buy from hold with a price target of $300.
Roper Technologies (ROP) is down more than -7% to lead losers in the Nasdaq 100 after forecasting Q4 adjusted EPS from continuing operations $5.11 to $5.16, weaker than the consensus of $5.24.
International Business Machines (IBM) is down more than -4% to lead losers in the Dow Jones Industrials after reporting a +14% increase in its Q3 hybrid cloud unit, below the consensus of +16%.
Tesla (TSLA) is down more than -3% after reporting Q3 EPS of 50 cents, weaker than the consensus of 54 cents.
Southwest Airlines (LUV) is down by more than -3% after reporting Q3 operating revenue of $6.90 billion, below the consensus of $6.92 billion.
Tractor Supply Co (TSCO) is down more than -3% after narrowing its full-year comparable sales forecast to +1.4% to +2.4% from a previous forecast of 0% to +4.0%.
Packaging Corp (PKG) is down more than -1% after reporting Q3 adjusted EPS of $2.73, below the consensus of $2.82.
Moderna (MRNA) is down more than -4% after saying its vaccine to prevent cytomegalovirus, a common cause of birth defects, failed to meet its goal in a late-stage trial.
Earnings Reports(10/23/2025)
Alaska Air Group Inc (ALK), Allegion plc (ALLE), American Airlines Group Inc (AAL), AutoNation Inc (AN), Baker Hughes Co (BKR), Blackstone Inc (BX), Boston Beer Co Inc/The (SAM), Boyd Gaming Corp (BYD), Brunswick Corp/DE (BC), Carpenter Technology Corp (CRS), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Comfort Systems USA Inc (FIX), Darling Ingredients Inc (DAR), Deckers Outdoor Corp (DECK), Digital Realty Trust Inc (DLR), Dover Corp (DOV), Dow Inc (DOW), EastGroup Properties Inc (EGP), Euronet Worldwide Inc (EEFT), First Citizens BancShares Inc/ (FCNCA), Ford Motor Co (F), Freeport-McMoRan Inc (FCX), FTI Consulting Inc (FCN), Hasbro Inc (HAS), Healthpeak Properties Inc (DOC), Honeywell International Inc (HON), Intel Corp (INTC), Iridium Communications Inc (IRDM), Kinsale Capital Group Inc (KNSL), Lazard Inc (LAZ), Millrose Properties Inc (MRP), Mohawk Industries Inc (MHK), MSC Industrial Direct Co Inc (MSM), Newmont Corp (NEM), Norfolk Southern Corp (NSC), Old Republic International Cor (ORI), PG&E Corp (PCG), Pool Corp (POOL), Popular Inc (BPOP), Roper Technologies Inc (ROP), Ryder System Inc (R), SLM Corp (SLM), Spirit AeroSystems Holdings In (SPR), SS&C Technologies Holdings Inc (SSNC), TechnipFMC PLC (FTI), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), TransUnion (TRU), Union Pacific Corp (UNP), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services Inc (WST), Western Union Co/The (WU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Climb on Strength in Energy Producers

Fintel reports that on October 22, 2025, Wells Fargo maintained coverage of Elevance Health (NYSE:ELV) with a Overweight recommendation.
Analyst Price Forecast Suggests 8.21% Upside
As of September 30, 2025, the average one-year price target for Elevance Health is $373.55/share. The forecasts range from a low of $299.97 to a high of $584.15. The average price target represents an increase of 8.21% from its latest reported closing price of $345.20 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Elevance Health is 175,825MM, a decrease of 9.75%. The projected annual non-GAAP EPS is 41.95.
What is the Fund Sentiment?
There are 2,658 funds or institutions reporting positions in Elevance Health. This is an decrease of 60 owner(s) or 2.21% in the last quarter. Average portfolio weight of all funds dedicated to ELV is 0.41%, an increase of 12.41%. Total shares owned by institutions increased in the last three months by 1.46% to 241,700K shares. The put/call ratio of ELV is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 8,085K shares representing 3.59% ownership of the company. In its prior filing, the firm reported owning 9,143K shares , representing a decrease of 13.08%. The firm decreased its portfolio allocation in ELV by 27.29% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,265K shares representing 3.23% ownership of the company. In its prior filing, the firm reported owning 7,059K shares , representing an increase of 2.84%. The firm decreased its portfolio allocation in ELV by 17.88% over the last quarter.
Capital International Investors holds 6,488K shares representing 2.88% ownership of the company. In its prior filing, the firm reported owning 5,556K shares , representing an increase of 14.37%. The firm decreased its portfolio allocation in ELV by 8.54% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,413K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 6,324K shares , representing an increase of 1.40%. The firm decreased its portfolio allocation in ELV by 19.43% over the last quarter.
Wellington Management Group Llp holds 6,318K shares representing 2.81% ownership of the company. In its prior filing, the firm reported owning 5,795K shares , representing an increase of 8.28%. The firm decreased its portfolio allocation in ELV by 8.01% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Wells Fargo Maintains Elevance Health (ELV) Overweight Recommendation

Fintel reports that on October 22, 2025, Barclays maintained coverage of Elevance Health (NYSE:ELV) with a Overweight recommendation.
Analyst Price Forecast Suggests 8.21% Upside
As of September 30, 2025, the average one-year price target for Elevance Health is $373.55/share. The forecasts range from a low of $299.97 to a high of $584.15. The average price target represents an increase of 8.21% from its latest reported closing price of $345.20 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Elevance Health is 175,825MM, a decrease of 9.75%. The projected annual non-GAAP EPS is 41.95.
What is the Fund Sentiment?
There are 2,658 funds or institutions reporting positions in Elevance Health. This is an decrease of 60 owner(s) or 2.21% in the last quarter. Average portfolio weight of all funds dedicated to ELV is 0.41%, an increase of 12.41%. Total shares owned by institutions increased in the last three months by 1.46% to 241,700K shares. The put/call ratio of ELV is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 8,085K shares representing 3.59% ownership of the company. In its prior filing, the firm reported owning 9,143K shares , representing a decrease of 13.08%. The firm decreased its portfolio allocation in ELV by 27.29% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,265K shares representing 3.23% ownership of the company. In its prior filing, the firm reported owning 7,059K shares , representing an increase of 2.84%. The firm decreased its portfolio allocation in ELV by 17.88% over the last quarter.
Capital International Investors holds 6,488K shares representing 2.88% ownership of the company. In its prior filing, the firm reported owning 5,556K shares , representing an increase of 14.37%. The firm decreased its portfolio allocation in ELV by 8.54% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,413K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 6,324K shares , representing an increase of 1.40%. The firm decreased its portfolio allocation in ELV by 19.43% over the last quarter.
Wellington Management Group Llp holds 6,318K shares representing 2.81% ownership of the company. In its prior filing, the firm reported owning 5,795K shares , representing an increase of 8.28%. The firm decreased its portfolio allocation in ELV by 8.01% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Barclays Maintains Elevance Health (ELV) Overweight Recommendation

In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So when stocks turn up that see insider buying, and are also top ranked, investors are wise to take notice. One such company is Elevance Health Inc (Symbol: ELV), which saw buying by Director Susan D. Devore.
Back on August 19, Devore invested $374,580.00 into 1,200 shares of ELV, for a cost per share of $312.15. In trading on Wednesday, shares were changing hands as low as $337.91 per share, which is 8.3% above Devore's purchase price. It should be noted that Devore has collected $1.71/share in dividends since the time of their purchase, so they are currently up 8.8% on their purchase from a total return basis. Elevance Health Inc shares are currently trading -1.61% on the day. The chart below shows the one year performance of ELV shares, versus its 200 day moving average:
Looking at the chart above, ELV's low point in its 52 week range is $273.71 per share, with $458.75 as the 52 week high point — that compares with a last trade of $344.43. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
07/18/2025
Gail Boudreaux
President and CEO
8,500
$286.94
$2,438,951.30
08/19/2025
Susan D. Devore
Director
1,200
$312.15
$374,580.00
The DividendRank report noted that among the coverage universe, ELV shares displayed both attractive valuation metrics and strong profitability metrics. The report also cited the strong quarterly dividend history at Elevance Health Inc, and favorable long-term multi-year growth rates in key fundamental data points.
The report stated, ''Dividend investors approaching investing from a value standpoint are generally most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation. That's what we aim to find using our proprietary DividendRank formula, which ranks the coverage universe based upon our various criteria for both profitability and valuation, to generate a list of the top most 'interesting' stocks, meant for investors as a source of ideas that merit further research.''
The annualized dividend paid by Elevance Health Inc is $6.84/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 12/05/2025. Below is a long-term dividend history chart for ELV, which the report stressed as being of key importance. Indeed, studying a company's past dividend history can be of good help in judging whether the most recent dividend is likely to continue.
Also see:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Elevance Health Named Top Dividend Stock With Insider Buying and 1.96% Yield (ELV)

The S&P 500 Index ($SPX) (SPY) on Tuesday closed unchanged, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.47%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.06%. December E-mini S&P futures (ESZ25) fell -0.05%, and December E-mini Nasdaq futures (NQZ25) fell -0.08%.
Stock indexes settled mixed on Tuesday, with the S&P 500 posting a one-week high and the Dow Jones Industrial Average reaching a new record high. The broader market found support Tuesday on some positive corporate news. General Motors closed up more than +14% after raising its full-year adjusted EPS estimate. Also, 3M Co closed up more than +7% after raising its full-year adjusted EPS continuing operations estimate. In addition, RTX Corp closed up more than +7% after raising its full-year adjusted sales estimate. Finally, Coca-Cola closed up more than +4% after reporting better-than-expected Q3 comparable EPS.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the negative side, mining stocks retreated on Tuesday after the price of gold sank by more than -5% and silver prices plunged by more than -7% due to long liquidation pressures following their rallies to record highs last week. Also, weakness in semiconductor stocks weighed on the Nasdaq 100.
Gains in stocks were limited on Tuesday as they consolidated some of their sharp gains made over the past two sessions. The market is focusing on progress in US-China trade talks, as President Trump on Monday reiterated his threat to boost tariffs on Chinese goods "if there isn't a deal" by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next week on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
In some minor US economic news, the Oct Philadelphia Fed non-manufacturing business activity survey fell -9.9 to a 4-month low of -22.2.
The shutdown of the US government continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims and the Sep payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
Trade tensions between the US and China, the ongoing US government shutdown, and fears about credit quality in the US have sparked a buying spree in precious metals as a haven, with gold and silver reaching fresh all-time highs last Friday.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 97% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets settled higher on Tuesday. The Euro Stoxx 50 rallied to a new all-time high and closed up +0.10%. China's Shanghai Composite closed up +1.36%. Japan's Nikkei Stock 225 rose to a new record high and closed up by +0.27%.
Interest Rates
December 10-year T-notes (ZNZ5) on Tuesday closed up +5 ticks. The 10-year T-note yield fell -2.5 bp to 3.955%. T-note prices moved higher on Tuesday due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates. T-notes remained higher after the Oct Philadelphia Fed non-manufacturing business activity survey fell to a 4-month low.
European government bond yields moved lower on Tuesday. The 10-year German bund yield fell -2.5 bp to 2.552%. The 10-year UK gilt yield fell -2.7 bp to 4.478%.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
General Motors (GM) closed up more than +14% to lead gainers in the S&P 500 after raising its full-year adjusted EPS estimate to $9.75-$10.50 from a previous estimate of $8.25-$10.00.
Halliburton (HAL) closed up more than +12% after reporting Q3 revenue of $5.60 billion, better than the consensus of $5.39 billion.
Warner Bros. Discovery (WBD) closed up more than +11% to lead gainers in the Nasdaq 100 after it announced it has initiated a review of strategic alternatives to maximize shareholder value.
Gartner (IT) closed up more than +8% after William Balire said it was "impressed" by a demo of the company's AI-powered AskGartner tool at the IT Symposium/Xpo 2025 conference.
3M Co (MMM) closed up more than +7% to lead gainers in the Dow Jones industrials after raising its full-year adjusted EPS continuing operations to $7.95-$8.05 from a previous estimate of $7.75-$8.00.
RTX Corp (RTX) closed up more than +7% after raising its full-year adjusted sales estimate to $86.5 billion-$87.0 billion from a previous estimate of $84.75 billion-$85.50 billion.
Danaher (DHR) closed up more than +6% after reporting Q3 adjusted EPS of $1.89, stronger than the consensus of $1.72.
Crown Holdings (CCK) closed up more than +5% after boosting its full-year adjusted EPS estimate to $7.70-$7.80 from a previous estimate of $7.10-$7.50, above the consensus of $7.39.
Coca-Cola (KO) closed up more than +3% after reporting Q3 comparable EPS of 82 cents, above the consensus of 78 cents.
Mining stocks sold off on Tuesday after gold prices sank more than -5% and silver prices plunged more than -7%. As a result, Newmont (NEM) closed down more than -9% to lead losers in the S&P 500. Also, Barrick Mining (B), Coeur Mining (CDE), Kinross Gold (KGC), and Anglogold Ashanti Plc (AU) closed down more than -9%.
Chipmakers declined on Tuesday, weighing on the Nasdaq 100. Micron Technology (MU) closed down more than -2%. Also, Broadcom (AVGO), Marvell Technology (MRVL), ASML Holding NV (ASML), ARM Holdings Plc (ARM), and Advanced Micro Devices (AMD) closed down more than -1%. In addition, Applied Materials (AMAT) closed down -0.93% and Nvidia (NVDA) closed down -0.81%.
Cleveland-Cliffs (CLF) closed down more than -17% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $11.
NuScale Power (SMR) closed down more than -13% after Citigroup downgraded the stock to sell from neutral with a price target of $37.50.
Tempus AI (TEM) closed down more than -3% after TD Cowen downgraded the stock to hold from buy, citing valuation.
Alphabet (GOOGL) closed down by more than -2% after OpenAI unveiled the first AI-powered web browser, sparking competition with Alphabet's Google.
Verizon Communications (VZ) closed down more than -1% to lead losers in the Dow Jones Industrials after BNP Paribas Exane downgraded the stock to neutral from outperform.
Elevance Health (ELV) closed down more than -1% despite reporting better-than-expected Q3 operating revenue after the company said it sees 2025 Medicaid operating margin "modestly negative."
Earnings Reports(10/22/2025)
Alcoa Corp (AA), Amphenol Corp (APH), Annaly Capital Management Inc (NLY), AT&T Inc (T), Avery Dennison Corp (AVY), Boston Scientific Corp (BSX), CACI International Inc (CACI), Churchill Downs Inc (CHDN), CME Group Inc (CME), Crown Castle Inc (CCI), Equity LifeStyle Properties In (ELS), First American Financial Corp (FAF), FirstEnergy Corp (FE), GE Vernova Inc (GEV), Globe Life Inc (GL), Graco Inc (GGG), Hexcel Corp (HXL), Hilton Worldwide Holdings Inc (HLT), International Business Machine (IBM), Kinder Morgan Inc (KMI), Knight-Swift Transportation Holdings Inc (KNX), Lam Research Corp (LRCX), Las Vegas Sands Corp (LVS), Lennox International Inc (LII), Lithia Motors Inc (LAD), Medpace Holdings Inc (MEDP), Molina Healthcare Inc (MOH), Moody's Corp (MCO), Northern Trust Corp (NTRS), NVR Inc (NVR), O'Reilly Automotive Inc (ORLY), Packaging Corp of America (PKG), QuantumScape Corp (QS), Raymond James Financial Inc (RJF), Reliance Inc (RS), Robert Half Inc (RHI), SEI Investments Co (SEIC), Sonoco Products Co (SON), Southern Copper Corp (SCCO), SOUTHSTATE BANK CORP (SSB), Southwest Airlines Co (LUV), Stifel Financial Corp (SF), Teledyne Technologies Inc (TDY), Tesla Inc (TSLA), Thermo Fisher Scientific Inc (TMO), Travel + Leisure Co (TNL), United Rentals Inc (URI), Vertiv Holdings Co (VRT), Viking Therapeutics Inc (VKTX), Westinghouse Air Brake Technol (WAB), Wyndham Hotels & Resorts Inc (WH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Mixed on Strong Earnings and Weakness in Mining Stocks

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Elevance Health Inc (Symbol: ELV), where a total of 7,689 contracts have traded so far, representing approximately 768,900 underlying shares. That amounts to about 43.8% of ELV's average daily trading volume over the past month of 1.8 million shares. Especially high volume was seen for the $350 strike put option expiring November 21, 2025, with 884 contracts trading so far today, representing approximately 88,400 underlying shares of ELV. Below is a chart showing ELV's trailing twelve month trading history, with the $350 strike highlighted in orange:
Organon & Co (Symbol: OGN) saw options trading volume of 14,023 contracts, representing approximately 1.4 million underlying shares or approximately 43.1% of OGN's average daily trading volume over the past month, of 3.2 million shares. Particularly high volume was seen for the $9 strike put option expiring November 21, 2025, with 10,365 contracts trading so far today, representing approximately 1.0 million underlying shares of OGN. Below is a chart showing OGN's trailing twelve month trading history, with the $9 strike highlighted in orange:
And Globalstar Inc (Symbol: GSAT) options are showing a volume of 4,667 contracts thus far today. That number of contracts represents approximately 466,700 underlying shares, working out to a sizeable 41.5% of GSAT's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $35 strike put option expiring November 21, 2025, with 3,675 contracts trading so far today, representing approximately 367,500 underlying shares of GSAT. Below is a chart showing GSAT's trailing twelve month trading history, with the $35 strike highlighted in orange:
For the various different available expirations for ELV options, OGN options, or GSAT options, visit StockOptionsChannel.com.
Also see:
MAMS Split History
Institutional Holders of CRTD
HGO Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Tuesday Option Activity: ELV, OGN, GSAT

Looking at the universe of stocks we cover at Dividend Channel, in trading on Tuesday, shares of Elevance Health Inc (Symbol: ELV) were yielding above the 2% mark based on its quarterly dividend (annualized to $6.84), with the stock changing hands as low as $337.00 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return. To illustrate, suppose for example you purchased shares of the S&P 500 ETF (SPY) back on 12/31/1999 — you would have paid $146.88 per share. Fast forward to 12/31/2012 and each share was worth $142.41 on that date, a decrease of $4.67/share over all those years. But now consider that you collected a whopping $25.98 per share in dividends over the same period, for a positive total return of 23.36%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.6%; so by comparison collecting a yield above 2% would appear considerably attractive if that yield is sustainable. Elevance Health Inc (Symbol: ELV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Elevance Health Inc, looking at the history chart for ELV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 2% annual yield.
Free Report: Top 8%+ Dividends (paid monthly)
Click here to find out which 9 other dividend stocks just recently went on sale »
Also see:
Asset Management Dividend Stocks
Trane Technologies DMA
Top Ten Hedge Funds Holding UPI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

ELV Crosses Above 2% Yield Territory

Elevance Health, Inc. ELV reported third-quarter 2025 adjusted earnings per share (EPS) of $6.03, which surpassed the Zacks Consensus Estimate by 21.1%. The bottom line dropped 29.9% year over year.
Operating revenues advanced 12% year over year to $50.1 billion. The top line beat the consensus mark by 1.2%.
The quarterly results benefited on the back of strong growth in premiums, product revenues and net investment income. Segment-wise, the Carelon division posted a robust revenue surge, aided by buyouts and scaling risk-based services, while Health Benefits saw increased premium yields and Medicare Advantage membership growth. However, the upside was partly offset by a decline in overall medical membership due to Medicaid reverifications and an elevated expense level.
Elevance Health, Inc. Price, Consensus and EPS Surprise
ELV’s Q3 Operational Update
Medical membership of Elevance Health was around 45.4 million as of Sept. 30, 2025, which dipped 0.9% year over year. The decrease was due to a decline in Medicaid membership as a result of eligibility reverifications, partially offset by growth in Medicare Advantage. The reported figure missed the Zacks Consensus Estimate and our estimate of 45.6 million.
Premiums totaled $41.8 billion in the quarter under review, which improved 13.5% year over year, and outpaced the consensus mark of $41 billion and our estimate of $40.2 billion. Product revenues grew 4.6% year over year to $6.2 billion. The metric missed the Zacks Consensus Estimate of $6.3 billion but beat our estimate of $6.1 billion.
Net investment income advanced 13.4% year over year to $625 million, which surpassed the consensus mark of $449 million and our estimate of $476.5 million. Adjusted operating margin of 2.7% deteriorated 280 basis points (bps) year over year.
Total expenses escalated 12.7% year over year to $49.3 billion in the third quarter, higher than our estimate of $47.7 billion. The year-over-year increase was due to higher benefit expenses, cost of products sold and interest expenses.
Operating expense ratio came in at 10.5%, which improved 130 bps year over year. The benefit expense ratio deteriorated 180 bps year over year to 91.3%.
Q3 Segmental Results of ELV
Health Benefits
The unit recorded operating revenues of $42.2 billion in the third quarter, which rose 10% year over year and beat the Zacks Consensus Estimate of $41.5 billion as well as our estimate of $40.2 billion. The segment benefited from increased premium yields, rising Medicare Advantage membership and buyouts.
Operating gain plunged 62.5% year over year to $0.6 billion, lower than the consensus mark of $0.9 billion. The operating margin of 1.4% deteriorated 280 bps year over year.
Carelon
The segment’s operating revenues soared 33% year over year to $18.3 billion in the quarter under review, higher than the Zacks Consensus Estimate of $18 billion and our estimate of $17.4 billion. The year-over-year improvement was driven by buyouts in home health and pharmacy services, higher CarelonRx product revenues and the scaling of risk-based capabilities in Carelon Services.
The unit’s operating gain of $0.8 billion remained unchanged year over year. The operating margin deteriorated 160 bps year over year to 4.2%.
Corporate & Other
Operating revenues more than doubled year over year to $149 million in the third quarter. The unit incurred an operating loss of $81 million, narrower than the prior-year quarter’s loss of $999 million.
ELV’s Financial Details (as of Sept. 30, 2025)
Elevance Health exited the third quarter with cash and cash equivalents of $8.7 billion, which advanced 5.1% from the 2024-end level. Total assets of $122.7 billion increased 5% from the figure at 2024-end.
Long-term debt, less the current portion, amounted to $31.2 billion, up 6.7% from the figure as of Dec. 31, 2024. Short-term borrowings at the third-quarter end were $180 million, while the current portion of the long-term debt amounted to $749 million.
Total equity of $44.1 billion fell 6.4% from the 2024-end level.
Elevance Health generated net cash flow from operations of $4.2 billion in the first nine months of 2025, which fell 17.6% from the prior-year comparable period.
ELV: Capital Deployment Update
Elevance Health bought back shares worth $875 million in the third quarter. It had a leftover capacity of around $7.2 billion under its share buyback authorization as of Sept. 30, 2025.
Elevance Health paid a quarterly dividend of $1.71 per share, adding up to a cash distribution worth $381 million.
ELV’s 2025 Outlook
The company reiterates its adjusted EPS to be around $30, which indicates a 9.2% decline from the 2024 reported figure. Management maintains its view for benefit expense ratio at around 90%
The operating margin for the Health Benefits segment was earlier estimated to witness a decrease of 50-25 basis points (bps) from the 2024 reported figure.
Also, the operating margin for CarelonRx was expected to see 0-20 bps growth, while the same for Carelon Services was estimated to witness a decrease of 100-50 bps.
Management earlier expected operating revenues to witness high-single to low-double-digit growth in 2025 from the 2024 level. Premium revenues were earlier estimated to witness low-double-digit growth from the 2024 level. Medical enrollment was forecasted to be between 45.8 million and 46.6 million in 2025.
Net investment income was earlier anticipated to be $1.9 billion. Interest expenses were forecasted to be $1.5 billion in 2025, while operating cash flow was likely to be approximately $8 billion. Diluted shares were earlier estimated at 225-226 million.
ELV’s Zacks Rank
Elevance Health currently has a Zacks Rank #5 (Strong Sell).
Upcoming Medical Sector Releases
Here are three other companies from the Medical space that are likely to report their respective quarterly earnings soon.
Exact Sciences Corporation EXAS has an Earnings ESP of +56.25% and a Zacks Rank #1 at present. The Zacks Consensus Estimate for EXAS’ third-quarter 2025 earnings is pegged at 10 cents per share. A loss of 21 cents per share was incurred in the prior-year quarter.
Exact Sciences’ earnings beat estimates in three of the trailing four quarters and missed the mark once, the average surprise being 329.87%.
ANI Pharmaceuticals, Inc. ANIP has an Earnings ESP of +6.24% and a Zacks Rank of 2 at present. The Zacks Consensus Estimate for ANIP’s third-quarter 2025 earnings is $1.74 per share, implying 29.9% growth from the year-ago quarter’s figure.
ANI Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, the average surprise being 22.66%.
Zimmer Biomet Holdings, Inc. ZBH currently has an Earnings ESP of +3.53% and a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for ZBH’s third-quarter 2025 earnings is pegged at $1.88 per share, indicating a 8.1% rise from the prior-year quarter’s number.
Zimmer Biomet’s earnings beat estimates in three of the trailing four quarters and missed the mark once, the average surprise being 1.81%.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include
Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
Stock #3: One of the Most Compelling Investments in the Market
Stock #4: Leader In a Red-Hot Industry Poised for Growth
Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
Download Atomic Opportunity: Nuclear Energy's Comeback free today.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Elevance Health Q3 Earnings Beat Estimates on Strong MA Membership

The S&P 500 Index ($SPX) (SPY) today is up +0.07%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.58%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.12%. December E-mini S&P futures (ESZ25) are up +0.07%, and December E-mini Nasdaq futures (NQZ25) are down -0.11%.
Stock indexes are mixed today, with the Dow Jones Industrials posting a 1.5-week high. The broader market is moving slightly higher on some positive corporate news. General Motors is up more than +14% after raising its full-year adjusted EPS estimate. Also, RTX Corp is up more than +8% after raising its full-year adjusted sales estimate. In addition, Coca-Cola is up more than +3% after reporting better-than-expected Q3 comparable EPS.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the negative side, mining stocks are under pressure today, with the price of gold down by more than -4% and silver prices sinking by more than -7% due to long liquidation pressures following their rallies to record highs last week. Also, weakness in chipmakers today is weighing on the Nasdaq 100.
Gains in stocks are limited as they consolidate some of their sharp gains made over the past two sessions. The market is focusing on progress in US-China trade talks, as President Trump on Monday reiterated his threat to boost tariffs on Chinese goods “if there isn’t a deal” by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next week on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
In some minor US economic news, the Oct Philadelphia Fed non-manufacturing business activity survey fell -9.9 to a 4-month low of -22.2.
The shutdown of the US government continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims and the Sep payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don’t align with President Trump’s priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
Trade tensions between the US and China, the ongoing US government shutdown, and fears about credit quality in the US have sparked a buying spree in precious metals as a haven, with gold and silver reaching fresh all-time highs last Friday.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts’ expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 99% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are higher today. The Euro Stoxx 50 rallied to a new all-time high and is up +0.02%. China’s Shanghai Composite closed up +1.36%. Japan’s Nikkei Stock 225 rose to a new record high and closed up by +0.27%.
Interest Rates
December 10-year T-notes (ZNZ5) are up +5 ticks. The 10-year T-note yield is down -2.5 bp to 3.955%. T-note prices today are slightly higher. T-notes have support due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates. T-notes maintained modest gains after the Oct Philadelphia Fed non-manufacturing business activity survey fell to a 4-month low.
European government bond yields are moving lower today. The 10-year German bund yield is down -2.2 bp to 2.555%. The 10-year UK gilt yield is down -2.3 bp to 4.482%.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
General Motors (GM) is up more than +14% to lead gainers in the S&P 500 after raising its full-year adjusted EPS estimate to $9.75-$10.50 from a previous estimate of $8.25-$10.00.
Warner Bros. Discovery (WBD) is up more than +9% to lead gainers in the Nasdaq 100 after it announced it has initiated a review of strategic alternatives to maximize shareholder value.
Halliburton (HAL) is up more than +9% after reporting Q3 revenue of $5.60 billion, better than the consensus of $5.39 billion.
RTX Corp (RTX) is up more than +8% after raising its full-year adjusted sales estimate to $86.5 billion-$87.0 billion from a previous estimate of $84.75 billion-$85.50 billion.
Danaher (DHR) is up more than +8% after reporting Q3 adjusted EPS of $1.89, stronger than the consensus of $1.72.
Crown Holdings (CCK) is up more than +4% after boosting its full-year adjusted EPS estimate to $7.70-$7.80 from a previous estimate of $7.10-$7.50, above the consensus of $7.39.
3M Co (MMM) is up more than +4% to lead gainers in the Dow Jones industrials after raising its full-year adjusted EPS continuing operations to $7.95-$8.05 from a previous estimate of $7.75-$8.00.
Coca-Cola (KO) is up more than +3% after reporting Q3 comparable EPS of 82 cents, above the consensus of 78 cents.
Mining stocks are under pressure today, with gold prices down by more than -4% and silver prices down by more than -7%. As a result, Newmont (NEM) is down more than -9% to lead losers in the S&P 500. Also, Barrick Mining (B), Coeur Mining (CDE), Kinross Gold (KGC), Anglogold Ashanti Plc (AU), and Freeport McMoRan (FCX) are down more than -3%.
Semiconductor stocks are sliding today and weighing on the Nasdaq 100. Marvel Technology (MRVL), Advanced Micro Devices (AMD), and Micron Technology (MU) are down more than -2%. Also, ARM Holdings Plc (ARM), Broadcom (AVGO), ASML Holding NV (ASML), and Nvidia (NVDA) are down more than -1%.
Cleveland-Cliffs (CLF) is down more than -17% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $11.
NuScale Power (SMR) is down more than -8% after Citigroup downgraded the stock to sell from neutral with a price target of $37.50.
Verizon Communications (VZ) is down more than -1% to lead losers in the Dow Jones Industrials after BNP Paribas Exane downgraded the stock to neutral from outperform.
Elevance Health (ELV) is down more than -1% despite reporting better-than-expected Q3 operating revenue after the company said it sees 2025 Medicaid operating margin “modestly negative.”
PulteGroup (PHM) is down more than -1% after reporting a Q3 backlog of home orders fell -18% y/y to 9,888, below the consensus of 9,990.
Earnings Reports(10/21/2025)
3M Co (MMM), Agree Realty Corp (ADC), Capital One Financial Corp (COF), Chubb Ltd (CB), Coca-Cola Co/The (KO), Danaher Corp (DHR), East West Bancorp Inc (EWBC), Elevance Health Inc (ELV), EQT Corp (EQT), Equifax Inc (EFX), General Electric Co (GE), General Motors Co (GM), Genuine Parts Co (GPC), Halliburton Co (HAL), Intuitive Surgical Inc (ISRG), Lockheed Martin Corp (LMT), Manhattan Associates Inc (MANH), Matador Resources Co (MTDR), Mattel Inc (MAT), Nasdaq Inc (NDAQ), Netflix Inc (NFLX), Northrop Grumman Corp (NOC), Omnicom Group Inc (OMC), PACCAR Inc (PCAR), Pegasystems Inc (PEGA), Pentair PLC (PNR), Philip Morris International Inc (PM), PulteGroup Inc (PHM), Quest Diagnostics Inc (DGX), RTX Corp (RTX), Texas Instruments Inc (TXN), Valmont Industries Inc (VMI), Weatherford International PLC (WFRD), Western Alliance Bancorp (WAL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Index	Bulls	Bears
Confidence		—
Support		—
Cash flows		—

	S/L 5%RUB 359.47	S/L 10%RUB 376.59	S/L 15%RUB 393.70
Day	0.24%	0.00%	0.00%
Week	17.46%	0.77%	0.01%
Month	50.77%	19.38%	5.64%

Elevance Health, Inc.

Market sentiment

Overall assessment

Share of longs and shorts

Long

Short

Momentum

Protective stop levels