Humana Inc., together with its subsidiaries, provides medical and specialty insurance products in the United States. It operates through two segments, Insurance and CenterWell. The company offers medical and supplemental benefit plans to individuals. It has a contract with Centers for Medicare and Medicaid Services to administer the Limited Income Newly Eligible Transition prescription drug plan program; and contracts with various states to provide Medicaid, dual eligible, and long-term support services benefits. In addition, the company provides commercial fully-insured medical and specialty health insurance benefits comprising dental, vision, life insurance, and other supplemental health benefits, as well as administrative services only products to individuals and employer groups; military services, such as TRICARE T2017 East Region contract; and engages in the operations of pharmacy benefit manager business. Further, it operates pharmacies and senior focused primary care centers; and offers home solutions services, such as home health, hospice, and other services to its health plan members, as well as to third parties. The company sells its products through employers and employees, independent brokers and agents, sales representatives, and digital insurance agencies. The company was formerly known as Extendicare Inc. and changed its name to Humana Inc. in April 1974. Humana Inc. was founded in 1961 and is headquartered in Louisville, Kentucky.

Humana Inc.

The S&P 500 Index ($SPX) (SPY) on Tuesday closed up +0.27%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.33%. September E-mini S&P futures (ESU25) rose +0.28%, and September E-mini Nasdaq futures (NQU25) rose +0.36%.
Stock indexes on Tuesday settled higher after the preliminary revision to US payrolls in the year through March showed the number of jobs was fewer than previously stated, bolstering the outlook for accelerated interest rate cuts by the Fed. Stocks remain underpinned by the prospect of a more accommodative Fed, as the markets have fully priced in a 25 bp rate cut by the Fed at next week’s FOMC meeting and priced in a 10% chance for a 50 bp rate cut.
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M&A activity also supported stocks on Tuesday after Anglo American agreed to acquire Teck Resources, creating a more than $50 billion company. Also, Novartis AG is buying Tourmaline Bio for about $1.4 billion.
The preliminary benchmark payroll revisions to US payrolls in the year through March 2025 showed -911,000 fewer jobs than previously stated, a wider loss than expectations of -700,000 and the largest markdown in job growth since at least 2000, a sign of a weaker US labor market.
Market focus this week will be on any trade or tariff news. On Wednesday, Aug PPI final demand is expected to climb +3.3% y/y, unchanged from July, and Aug PPI ex-food and energy is expected to ease to +3.5% y/y from +3.7% y/y in July. On Thursday, Aug CPI is expected to climb to +2.9% y/y from +2.7% y/y in July, and Aug CPI ex-food and energy is expected to increase +3.1% y/y, unchanged from July. Also, weekly initial unemployment claims are expected to fall by -3,000 to 234,000. On Friday, the University of Michigan Sep consumer sentiment index is expected to slip -0.2 to 58.0.
The markets are now pricing in a 10% chance of a 50 bp rate cut at the upcoming FOMC meeting on Sep 16-17, versus the previous expectations of a zero chance of that 50 bp rate cut. After the fully expected -25 bp rate cut at the Sep 16-17 meeting, the markets are now discounting a 75% chance of a second -25 bp rate cut at the Oct 28-29 meeting, up from a 54% chance as of late Thursday. The markets are now pricing in an overall -72 bp rate cut in the federal funds rate by year-end to 3.66% from the current 4.38% rate.
Regarding tariffs, a federal appeals court ruled late last month that President Trump exceeded his authority by imposing global tariffs without Congressional approval, but the court let the tariffs remain in place while appeals continue. The US Court of Appeals for the Federal Circuit Court said, “The statute bestows significant authority on the President to undertake a number of actions in response to a declared national emergency, but none of these actions explicitly include the power to impose tariffs, duties, or the like, or the power to tax.” The case now appears to be headed to the Supreme Court for a final decision. According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced.
Overseas stock markets settled mixed on Tuesday. The Euro Stoxx 50 rose to a 1-week high and closed up +0.11%. China’s Shanghai Composite closed down -0.51%. Japan’s Nikkei Stock 225 dropped from a record high and closed down -0.42%.
Interest Rates
December 10-year T-notes (ZNZ5) on Tuesday closed down by -6.5 ticks. The 10-year T-note yield rose by +3.0 bp to 4.070%. Strength in stocks on Tuesday curbed safe-haven demand for T-notes. Also, supply pressures are weighing on T-notes as the Treasury will auction $119 billion of T-notes and T-bonds this week.
T-notes recovered some of their losses on solid demand for the Treasury’s $58 billion auction of 3-year T-notes that had a bid-to-cover ratio of 2.73, above the 10-auction average of 2.59. T-notes also have support after Tuesday’s larger-than-expected downward revision to annual US payroll growth and last Friday’s weak US unemployment report boosted the chances to 100% for a 25 bp Fed rate cut at next week’s FOMC meeting.
Concerns about Fed independence are negatively impacting T-note prices due to President Trump’s attempt to fire Fed Governor Cook and Stephen Miran’s intention to hold a Fed Governor position while remaining technically in his White House role on the Council of Economic Advisors.
European government bond yields on Tuesday moved higher. The 10-year German bund yield rose +1.7 bp to 2.659%. The 10-year UK gilt yield rose +1.8 bp to 4.623%.
French Jul manufacturing production fell -1.7% m/m, weaker than expectations of -1.2% m/m and the largest decline in 14 months.
Swaps are discounting no chance for a -25 bp rate cut by the ECB at Thursday’s policy meeting.
US Stock Movers
UnitedHealth Group (UNH) closed up more than +8% to lead gainers in the S&P 500 and Dow Jones Industrials and underpin health insurance stocks after saying it expects 78% of its Medicare Advantage members to be in highly rated 4-star or higher plans that earn bonus payments next year. Also, Centene (CNC) closed up more than +7% and Molina Healthcare (MOH) closed up more than +3%. In addition, Elevance Health (ELV) closed up more than +2% and CVS Health (CVS) closed up more than +1%
Strength in chip makers also supported gains in the broader market. Advanced Micro Devices (AMD) and Micron Technology (MU) closed up more than +2%. Also, Nvidia (NVDA), Marvell Technology (MRVL), ARM Holdings Plc (ARM), and ASML Holding NV (ASML) closed up more than +1%. In addition, KLA Corp (KLAC) closed up +0.96% and Applied Materials (AMAT) closed up +0.89%.
Tourmaline Bio (TRML) closed up more than +57% after Novartis AG agreed to buy the company for $1.4 billion or about $48 a share.
Nebius Group NV (NBIS) closed up more than +49% after announcing it will provide Microsoft access to GPU infrastructure capacity at its new data center in Vineland, New Jersey, over the next five years.
Brighthouse Financial (BHF) closed up more than +12% after the Financial Times reported that Aquarian Holdings is in late-stage talks with two Middle Eastern investors to finance a takeover of the company.
Atlassian Corp (TEAM) closed up more than +5% to lead gainers in the Nasdaq 100 after announcing it is ending its data center product over the coming three years and will move customers to its cloud platform.
CoreWeave (CRWV) closed up more than +7% after launching CoreWeave Ventures, a new initiative committed to backing founders and companies developing platforms and technologies shaping the AI ecosystem.
Humana (HUM) closed down more than -12% to lead losers in the S&P 500 after a post on LinkedIn, cited by analysts at Leerink Partners, stated that changes in the thresholds for Medicare quality ratings that pay bonuses to health plans are harder to get, and Humana receives most of its revenue from selling private Medicare Advantage plans.
Albemarle (ALB) closed down more than -11% as lithium stocks retreated on a report from Chinese state media Securities Times that said CATL’s lithium mine, which had suspended production last month, will resume production soon.
SailPoint (SAIL) closed down more than -7% after forecasting Q3 adjusted income from operations of $42.5 million-$43.5 million, weaker than the consensus of $50.4 million.
Fox Corp (FOXA) closed down more than -6% after trusts established for three of Rupert Murdoch’s children are selling 16.9 million shares of Class B stock.
Home builders and home building suppliers are falling today on long liquidation and profit taking following the sharp rally in the stocks over the past three months. Builders FirstSource (BLDR) closed down more than -5%. Also, PulteGroup (PHM), DR Horton (DHI), and Lennar (LEN) closed down more than -3%, and Toll Brothers (TOL) closed down more than -2%.
Freeport-McMoRan (FCX) closed down more than -5% after announcing that mining operations at the Central Papua, Indonesia Grasberg minerals district had been suspended to evacuate workers from an underground mine.
News Corp (NWS) closed down more than -4% after announcing it will offer 14.1 million shares of Class B common stock.
Earnings Reports(9/10/2025)
Barnes & Noble Education Inc (BNED), Chewy Inc (CHWY), Daktronics Inc (DAKT), Frequency Electronics Inc (FEIM), Oxford Industries Inc (OXM), PACS Group Inc (PACS).
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 Settle Higher on Hopes of Accelerated Fed Rate Cuts

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores?
Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
While good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum Score
Momentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.75% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Humana (HUM)
Founded in 1964 and headquartered in Louisville, KY, Humana Inc. is one of the largest health care plan providers in the United States. It was organized as a Delaware corporation in the year 1964. It provides health insurance benefits under Health Maintenance Organization (HMO), Private Fee-For-Service (PFFS), and Preferred Provider Organization (PPO) plans. The company also provides other benefits with specialty products including dental, vision, and other supplementary benefits.
HUM is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Medical stock. HUM has a Momentum Style Score of B, and shares are up 15.5% over the past four weeks.
11 analysts revised their earnings estimate higher in the last 60 days for fiscal 2025, while the Zacks Consensus Estimate has increased $0.62 to $16.99 per share. HUM also boasts an average earnings surprise of +9.6%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, HUM should be on investors' short list.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Humana (HUM) is a Top-Ranked Momentum Stock: Should You Buy?

The largest health insurer in the United States, UnitedHealth Group Incorporated UNH, is increasingly incorporating artificial intelligence (AI) into its operations to transform the way healthcare is provided and managed. With its extensive data from insurance claims, provider networks and patient interactions, the company is able to implement AI tools on a large scale.
As costs continue to climb and patient expectations evolve, UNH is integrating AI into both its insurance and care delivery sectors, with the goal of boosting efficiency while enhancing patient outcomes at the same time. AI-powered systems are making it easier for healthcare providers to spot high-risk patients sooner, customize care plans and cut down on hospital admissions.
In the space of insurance, AI is playing a crucial role for UNH by making claims processing smoother and spotting fraud with high accuracy. Internal analysis of the company found that the system could save around 4,500 to 5,000 staff hours each year by cutting down on the time spent searching for information.
However, the healthcare sector is deeply rooted in human judgment, and concerns like data privacy, algorithmic bias and the risk of becoming overly dependent on automation can’t be overlooked. If UNH can strike a balance between innovation and trust, ensuring that AI tools are transparent and supportive rather than replacing healthcare professionals’ decisions, it could serve as a blueprint for the broader healthcare system while supporting the company’s long-term growth through cost reduction.
How Are Competitors Faring?
Some of UNH’s major competitors in the AI-enabled healthcare solutions are Elevance Health, Inc. ELV and Humana Inc. HUM.
Elevance Health’s AI tool speeds up the prior authorization process by aligning necessary documentation with medical policies, helping patients receive faster approvals. Elevance Health’s system undergoes thorough evaluations to check for bias and performance.
Humana focuses on using AI ethically to improve patient experiences, enhance care quality and achieve better health outcomes, while ensuring human involvement in all clinical decision-making processes. By partnering with Google Cloud, Humana utilizes Health Insurance Portability and Accountability Act-compliant infrastructure and a secure data system, allowing customers to maintain complete control over their data.
UnitedHealth’s Price Performance, Valuation & Estimates
Shares of UNH have declined 37.7% in the year-to-date period compared with the industry’s fall of 29.5%.
Image Source: Zacks Investment Research
From a valuation standpoint, UnitedHealth trades at a forward price-to-earnings ratio of 18.44, above the industry average of 15.23. UNH carries a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for UnitedHealth’s 2025 earnings is pegged at $16.21 per share, implying a 41.4% drop from the year-ago period.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #5 (Strong Sell).
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Elevance Health, Inc. (ELV) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

UnitedHealth & AI: Can Technology Redefine Healthcare Efficiency?

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Humana Inc. (Symbol: HUM), where a total of 8,053 contracts have traded so far, representing approximately 805,300 underlying shares. That amounts to about 58.9% of HUM's average daily trading volume over the past month of 1.4 million shares. Especially high volume was seen for the $320 strike call option expiring September 19, 2025, with 457 contracts trading so far today, representing approximately 45,700 underlying shares of HUM. Below is a chart showing HUM's trailing twelve month trading history, with the $320 strike highlighted in orange:
Alight Inc (Symbol: ALIT) options are showing a volume of 59,269 contracts thus far today. That number of contracts represents approximately 5.9 million underlying shares, working out to a sizeable 58.7% of ALIT's average daily trading volume over the past month, of 10.1 million shares. Particularly high volume was seen for the $4 strike call option expiring January 16, 2026, with 39,604 contracts trading so far today, representing approximately 4.0 million underlying shares of ALIT. Below is a chart showing ALIT's trailing twelve month trading history, with the $4 strike highlighted in orange:
And Vitesse Energy Inc (Symbol: VTS) saw options trading volume of 2,018 contracts, representing approximately 201,800 underlying shares or approximately 58.1% of VTS's average daily trading volume over the past month, of 347,515 shares. Particularly high volume was seen for the $30 strike call option expiring January 16, 2026, with 2,002 contracts trading so far today, representing approximately 200,200 underlying shares of VTS. Below is a chart showing VTS's trailing twelve month trading history, with the $30 strike highlighted in orange:
For the various different available expirations for HUM options, ALIT options, or VTS options, visit StockOptionsChannel.com.
Also see:
MLPs Hedge Funds Are Selling
RST Historical Stock Prices
Institutional Holders of FAD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Tuesday Option Activity: HUM, ALIT, VTS

CVS Health’s CVS Health Care Benefits (“HCB”) segment continued its strong run in the second quarter of 2025. Revenues grew more than $36 billion, up more than 11% from the prior year, driven mainly by increases in the government businesses, reflecting the impact of the 2022 Inflation Reduction Act on the Medicare Part D program. Notably, adjusted operating income jumped nearly 40%, benefiting from the favorable year-over-year impact of changes to individual exchange risk adjustment estimates, stronger performance in government businesses and higher positive prior-period development.
Earlier this year, CVS Health announced it would exit the individual exchange business in 2026, where Aetna independently runs ACA plans. Despite years of effort, management concluded that there is no near- or long-term way to materially improve performance and projects $350 million-$400 million in variable losses from this business for 2025. Medical membership as of June 30 dropped sequentially to 26.7 million, primarily due to expected declines following the expiration of a premium grace period shortly after the first-quarter end.
CVS recorded a $471 million premium deficiency reserve (PDR) related to its Group Medicare Advantage (MA) product line through the remainder of the 2025 coverage year. This raised the quarter’s medical benefit ratio to 89.9%, reflecting a 30-basis-point increase from last year. The company’s Medicare business gained from favorability within the supplemental benefit offerings and Part D in individual MA business, even as trends remain elevated.
Performance across all other lines of business tracked mostly with CVS’ expectations, with no changes to the prior PDR established for individual exchange business. Days' claims payable were 40.9 days, down approximately 2 days sequentially, led by a higher mix of pharmacy costs, partially offset by the impact of the group MA PDR. CVS remains confident in the adequacy of its reserves.
Update From CVS Health Rivals
Elevance Health ELV posted second-quarter 2025 operating revenues of $41.6 billion in its Health Benefits segment, up 12% year over year. This was mainly driven by higher premium yields, recently closed acquisitions and growth in its Medicare Advantage membership, partly offset by lower Medicaid membership. ELV’s medical membership totaled approximately 45.6 million as of June 30, a decline of 212,000 sequentially, due to lower Medicaid membership and attrition resulting from lower effectuation rates in the Individual ACA business.
Humana’s HUM performance in the second quarter was led by CenterWell pharmacy, along with better-than-expected individual MA membership. Humana has taken steps to simplify and streamline the prior authorization process, building on the recent commitments made by multiple health plans. In addition, Humana continues its strategic expansion in Medicaid with the launch of its Virginia contract, bringing its active footprint to 10 states, with three more states awarded in pending.
CVS Stock Performance, Valuation and Estimates
Over the past year, CVS Health shares have risen 27.5% against the industry’s 16.7% fall.
Image Source: Zacks Investment Research
In terms of valuation, CVS Health is trading at a forward five-year earnings multiple of 10.65, which is lower than the industry average of 15.33. The stock has a Value Score of A.
Image Source: Zacks Investment Research
The consensus estimates for the company’s 2025 and 2026 earnings are showing a bullish trend.
Image Source: Zacks Investment Research
CVS currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

CVS Health Sees Momentum in HCB Segment Amid Utilization Pressure

The S&P 500 Index ($SPX) (SPY) on Friday closed down by -0.64%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.20%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -1.22%. September E-mini S&P futures (ESU25) fell -0.68%, and September E-mini Nasdaq futures (NQU25) fell -1.31%.
Stock indexes retreated on Friday, weighed down by weakness in technology stocks. Marvell Technology tumbled more than -18% to lead semiconductor stocks lower after reporting that Q2 data center revenue missed estimates. Also, Dell Technologies fell more than -8% to lead computer hardware stocks lower after reporting tighter profit margins on AI servers.
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Stocks added to their losses after the August MNI Chicago PMI fell more than expected and after the University of Michigan's US August consumer sentiment index was unexpectedly revised lower. Also, inflation pressures remain sticky after the US July core PCE price index, the Fed's preferred inflation gauge, rose by the most in five months.
On the positive side for stocks, US consumer demand remains resilient after July personal spending rose by the most in four months. Also, the University of Michigan's inflation expectations were unexpectedly revised lower. In addition, dovish comments from Fed Governor Waller and San Francisco Fed President Daly were bullish for stocks as they signaled their support for Fed rate cuts.
US July personal spending rose +0.5% m/m, the most in four months, and right on expectations. July personal income rose +0.4% m/m, right on expectations.
The US July core PCE price index, the Fed's preferred inflation gauge, rose to a 5-month high of +2.9% y/y from +2.8% y/y in June, right on expectations but well above the Fed's 2% inflation target.
The US Aug MNI Chicago PMI fell -5.6 to 41.5, weaker than expectations of 46.0.
The University of Michigan's Aug US consumer sentiment index was revised lower by -0.4 to 58.2, weaker than expectations of no change at 58.6.
The University of Michigan Aug 1-year inflation expectations were unexpectedly revised slightly lower by -0.1 to 4.8%, weaker than expectations of an upward revision to 5.0%. The Aug 5-10 year inflation expectations were revised lower by -0.4 to 3.5% from the previously reported 3.9%.
Late Thursday, Fed Governor Christopher Waller stated that he supports a 25-bp rate cut at the September FOMC meeting and anticipates additional rate cuts over the next three to six months. He said, "With underlying inflation close to 2%, market-based measures of longer-term inflation expectations firmly anchored, and the chances of an undesirable weakening in the labor market increased, proper risk management means the FOMC should be cutting the policy rate now."
San Francisco Fed President Mary Daly signaled she's open to lower interest rates soon, saying, "It will soon be time to recalibrate policy to better match our economy." She added that tariff-related price increases "will be a one-off" and it "will take time before we know that for certain, but we can't wait for perfect certainty without risking harm to the labor market."
Regarding tariffs, President Trump on Monday threatened to impose new tariffs and export restrictions on advanced technology and semiconductors in retaliation against other nations' digital services taxes that hit American companies. Last week, Mr. Trump widened steel and aluminum tariffs to include more than 400 consumer items that contain the metals, such as motorcycles, auto parts, furniture components, and tableware. The change went into effect last Monday and did not exclude goods already in transit.
In other recent tariff news, Mr. Trump on August 13 extended the tariff truce with China for another 90 days until November. On August 6, Mr. Trump announced that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India's purchases of Russian oil. According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced.
Federal funds futures prices are discounting the chances for a -25 bp rate cut at 88% at the next FOMC meeting on September 16-17. The markets are discounting the chances at 55% for a second -25 bp rate cut at the following meeting on October 28-29.
Earnings reports indicate that S&P 500 earnings for Q2 are on track to rise +9.1% y/y, much better than the pre-season expectations of +2.8% y/y and the most in four years, according to Bloomberg Intelligence. With Q2 earnings season winding down, over 95% of S&P 500 firms having reported Q2 earnings, about 82% of companies exceeded profit estimates.
Overseas stock markets on Friday settled mixed. The Euro Stoxx 50 fell to a 2-week low and closed down -0.83%. China's Shanghai Composite closed up +0.37%. Japan's Nikkei Stock 225 closed down -0.26.
Interest Rates
September 10-year T-notes (ZNU5) Friday closed down -2.5 ticks, and the 10-year T-note yield rose +2.4 bp to 4.227%.
Sep T-notes posted modest losses on Friday after the US July core PCE price index, the Fed's preferred inflation gauge, rose to a 5-month high of +2.9% y/y. T-notes also have carryover pressure from weakness in 10-year German bunds after the German Aug CPI rose more than expected.
Losses in T-notes were limited after Fed Governor Christopher Waller said he supports a 25 bp rate cut at the September FOMC meeting and anticipates additional rate cuts over the next three to six months. Also, the University of Michigan's Aug inflation expectations were revised lower, a dovish factor for Fed policy.
European government bond yields on Friday moved higher. The 10-year German bund yield rose +2.9 bp to 2.724%. 10-year UK gilt yield rose +2.2 bp to 4.722%.
The ECB's July 1-year CPI expectations remained unchanged from June at +2.6%, which is stronger than the expected +2.5%. The ECB Jul 3-year CPI expectations unexpectedly climbed to +2.5%, stronger than expectations of no change at +2.4%.
German Aug unemployment unexpectedly fell by -9,000, showing a stronger labor market than expectations of +10,000.
German Jul retail sales fell -1.5% m/m, weaker than expectations of no change and the biggest decline in almost two years.
German Aug CPI (EU harmonized) rose +2.1% y/y, stronger than expectations of +2.0% y/y.
Swaps are discounting the chances at 2% for a -25 bp rate cut by the ECB at the September 11 policy meeting.
US Stock Movers
Chipmakers sold off on Friday, led by an -18% plunge in Marvell Technology (MRVL) to lead losers in the Nasdaq 100 after it reported Q2 data center revenue of $1.49 billion, below the consensus of $1.52 billion. Also, Lam Research (LRCX) closed down more than -4%, and Broadcom (AVGO), Nvidia (NVDA), and Advanced Micro Devices (AMD) closed down more than -3%. In addition, ARM Holdings Plc (ARM), ASML Holding NV (ASML), Applied Materials (AMAT), KLA Corp (KLAC), Intel (INTC), ON Semiconductor Corp (ON), and Micron Technology (MU) all closed down by more than 2%.
Dell Technologies (DELL) closed down more than -8% to lead losers in the S&P 500, and makers of computer hardware are lower after reporting Q2 operating income of $2.28 billion, below the consensus of $2.30 billion. Also, Super Micro Computer (SMCI) closed down more than -5% and Hewlett Packard Enterprise (HPE) closed down more than -2%.
Ulta Beauty (ULTA) closed down more than -7% despite reporting better-than-expected Q2 net sales after it warned of a potential pullback by consumers.
Caterpillar (CAT) closed down more than -3% to lead losers in the Dow Jones Industrials after warning that it faces a larger-than-anticipated tariff headwind of as much as $1.8 billion this year.
Dollar General (DG) closed down more than -2% despite reporting better-than-expected Q2 EPS after it said it expects "more pressure" in selling, general, and administrative (SG&A) expenses in Q3 and warned of tougher gross margin comparison in Q4.
Cryptocurrency-exposed stocks fell Friday after the price of Bitcoin (^BTCUSD) dropped more than -3% to a 7-week low. As a result, Galaxy Digital (GLXY) closed down more than -4%, and Coinbase Global (COIN) and Strategy (MSTR) closed down more than -1%.
Autodesk (ADSK) closed up more than +9% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 net revenue of $1.76 billion, better than the consensus of $1.72 billion, and forecasting Q3 revenue of $180 billion-$1.81 billion, stronger than the consensus of $1.77 billion.
Ambarella (AMBA) closed up more than +16% after reporting Q2 adjusted EPS of 15 cents, well above the consensus of 6 cents, and raising its 2026 revenue growth estimate to 31%-35% from a May forecast of +19%-25%.
Affirm Holdings (AFRM) closed up more than +10% after reporting Q4 revenue of $876.4 million, well above the consensus of $838.6 million.
SentinelOne (S) closed up more than +6% after raising its 2026 revenue forecast to $998 million-$1 billion from a previous forecast of $996 million-$1 billion.
Celsius Holdings (CELH) closed up more than +5% after PepsiCo increased its stake in the company to approximately 11% on an as-converted basis and will nominate an additional director to serve on Celsius Holdings' board of directors.
Managed healthcare stocks gained on Friday. Molina Healthcare (MOH) closed up more than +3%, and Elevance Health (ELV) and Centene (CNC) closed up more than +2%. Also, UnitedHealth Group (UNH) closed up more than +2% to lead gainers in the Dow Jones Industrials. In addition, Humana (HUM) and CVS Health (CVS) closed up more than +1%.
Earnings Reports(9/2/2025)
Academy Sports & Outdoors Inc (ASO), HealthEquity Inc (HQY), Signet Jewelers Ltd (SIG), Zscaler Inc (ZS).
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 Settle Lower as Tech Shares Selloff

Elevance Health, Inc. ELV, a well-known health insurer in the United States, is continuously focusing on redefining itself beyond a traditional health insurer into a vast healthcare solutions provider. By forming strategic partnerships and alliances, the company is actively constructing relationships with care management organizations, technology platforms and value-based networks. It aims to develop a more patient-focused and integrated care model that meets the needs of individuals.
Elevance Health is expanding into areas like primary care, digital health and pharmacy services. This expansion aims to provide members with insurance coverage along with holistic models that give access to address the wider factors affecting health, including access to preventive services, behavioral health and social help.
These partnerships are designed to reduce expensive hospitalizations and emergency room visits. ELV is also utilizing AI-enabled platforms and telehealth services to provide direct care at members’ homes, making healthcare more accessible while reducing administrative costs. Recently, it integrated Food as Medicine into its care model to reduce food and nutrition insecurities while enhancing chronic disease management and preventive health outcomes.
With these initiatives, ELV can gain more members and retain customers. The company’s Medicare Advantage memberships improved 11% year over year in the second quarter of 2025, while individual membership grew 5.2%. In the same quarter, its total revenues rose 13.4% year over year.
Still, there will be challenges, as integrating various services into one place demands strong coordination. If the company can balance growth, trust and execution, it might indeed serve as a blueprint for the future of healthcare.
How Are Competitors Faring?
Some of ELV’s competitors in the value-based care space are UnitedHealth Group Incorporated UNH and Humana Inc. HUM.
With the help of its Optum division, UnitedHealth Group aims to reduce hospital admissions, enhance chronic condition management and improve patient satisfaction, which plays a crucial role in shaping outcomes and managing costs. In the first half of 2025, UnitedHealth Group reported 5.8% year-over-year growth in revenues in its Optum business.
Humana also delivers services like pharmacy, primary care and home health solutions, which are designed to improve the overall healthcare experience. Humana’s total adjusted revenues rose 9.9% year over year in the first half of 2025.
Elevance Health’s Price Performance, Valuation & Estimates
Shares of ELV have lost 14.9% in the year-to-date period compared with the industry’s decline of 0.2%.
Image Source: Zacks Investment Research
From a valuation standpoint, Elevance Health trades at a forward price-to-earnings ratio of 9.88, down from the industry average of 15.23. ELV has a Value Score of B at present.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Elevance Health’s 2025 earnings is pegged at $29.88 per share, implying a 9.6% decline from the year-ago period.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #5 (Strong Sell).
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Is ELV's Push Beyond Insurance a Blueprint for the Healthcare Future?

Humana Inc. HUM recently announced new partnership agreements with Vori Health and Healthcare Outcomes Performance Company (“HOPCo”), which focuses on individual value-based care. This comes along with expanding its existing partnership with TailorCare. The company aims to further enhance care delivery for Medicare Advantage members who are dealing with musculoskeletal conditions like arthritis, osteoporosis and joint disorders.
With this initiative, eligible Humana Medicare Advantage members will have access to coordinated care professionals’ teams with their primary care clinician. Vori Health will offer its services across the country, while HOPCo will focus on providing musculoskeletal care specifically for Medicare Advantage members in Arizona. Additionally, TailorCare, which is currently available in Atlanta, will expand its services in Dallas and Denver in November 2025 and January 2026, respectively.
HUM’s focus on musculoskeletal care is noteworthy as one in two Americans is affected by these conditions. Musculoskeletal disorders are one of the biggest causes of medical expenses for older adults, often resulting in expensive surgeries and hospital stays. HUM will help reduce preventable costs while improving health outcomes by guiding patients with coordinated plans and early interventions.
This strategy fits with Humana’s goals of controlling costs and strengthening its position in the competitive value-based care landscape. The company’s CenterWell segment reported 8.9% year-over-year growth in revenues in the first half of 2025, along with an improved operating cost ratio.
If implemented successfully, these integrations could lead to higher member satisfaction, better retention rates and improved margins over time. This strategic decision might strengthen HUM’s long-term growth approach while addressing the increasing need for holistic, specialized healthcare solutions.
HUM Stock Price Performance
Year to date, HUM’s shares have gained 17% against the industry’s decline of 31.6%.
Image Source: Zacks Investment Research
HUM’s Zacks Rank & Key Picks
HUM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Medical space are Tenet Healthcare Corporation THC, Avadel Pharmaceuticals plc AVDL and InfuSystem Holdings, Inc. INFU, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tenet Healthcare’s current-year earnings of $15.54 per share has witnessed two upward revisions in the past 30 days against no movement in the opposite direction. Tenet Healthcare beat earnings estimates in each of the trailing four quarters, with the average surprise being 31.2%. The consensus estimate for current-year revenues is pegged at $21.2 billion, suggesting 2.4% year-over-year growth.
The Zacks Consensus Estimate for Avadel Pharmaceuticals’ current-year earnings of 26 cents per share has witnessed four upward revisions in the past 30 days against no movement in the opposite direction. Avadel Pharmaceuticals beat earnings estimates in three of the trailing four quarters and met once, with the average surprise being 119.6%. The consensus estimate for current-year revenues is pegged at $274.1 million, suggesting 62.1% year-over-year growth.
The Zacks Consensus Estimate for InfuSystem Holdings’ current-year earnings of 26 cents per share has witnessed two upward revisions in the past 30 days against no movement in the opposite direction. InfuSystem Holdings beat earnings estimates in two of the trailing four quarters, missed once and met once, with an average surprise being 79.2%. The consensus estimate for current-year revenues is pegged at $144.2 million, suggesting 6.9% year-over-year growth.
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HUM Expands Musculoskeletal Care Access With New Value-Based Tie-Ups

Contracts and partnerships are central to Centene Corporation’s CNC business model. Centene is one of the largest managed care providers across Medicaid, Medicare, and the Affordable Care Act (ACA) marketplaces. The company’s growth is closely linked to winning, renewing, and expanding government contracts, which ensure steady, recurring revenues while strengthening Centene’s scale advantage. State Medicaid contracts, in particular, act as long-term growth engines by expanding Centene’s geographic presence and membership base. Renewals highlight state agencies’ confidence in Centene’s ability to manage costs effectively, deliver quality outcomes and maintain regulatory compliance.
Partnerships complement this foundation by enhancing operational efficiency. Collaborations with state agencies, provider networks, technology partners and pharmacy benefit managers (PBMs) enable Centene to deliver care more cost-effectively without heavy capital commitments. These alliances help improve member outcomes, control drug costs and sharpen organizational focus, contributing to a better health benefit ratio (HBR) and stronger profitability.
While Medicaid and ACA markets operate on thinner margins than commercial insurance, Centene offsets this through disciplined contract execution, scale-driven efficiencies and targeted partnerships that mitigate medical cost volatility. As the company refines its portfolio and divests non-core operations, these recurring contracts and strategic alliances will remain critical drivers of growth, stability and earnings resilience.
To sum it up, Centene’s ability to secure and sustain government contracts, paired with its disciplined approach to partnerships, positions the company to achieve consistent top-line expansion and margin improvement over the long term.
What About CNC’s Peers?
Contracts and partnerships are central to UnitedHealth Group’s UNM success, supporting its scale and diversification across UnitedHealthcare and Optum. UnitedHealth secures recurring revenues through government and employer contracts, while strategic partnerships with providers, health systems and technology firms enhance efficiency and care delivery. UnitedHealth leverages these strengths to drive growth, competitiveness, and margin expansion.
Contracts and partnerships are vital to Humana HUM, reinforcing its Medicare Advantage leadership and integrated care approach. Humana depends on government contracts for steady revenues, while strategic partnerships with providers and technology firms drive efficiency and outcomes. Humana leverages these collaborations to secure growth, strengthen competitiveness and enhance margin performance.
CNC’s Price Performance
Shares of CNC have lost 52.3% year to date, underperforming the industry.
Image Source: Zacks Investment Research
CNC’s Cheap Valuation
CNC trades at a forward 12-month price-to-earnings of 11.2, below the industry average of 14.7.
Image Source: Zacks Investment Research
Estimate Movement for CNC
The Zacks Consensus Estimate for CNC’s third-quarter and fourth-quarter 2025 EPS witnessed a southward revision over the past 30 days. The consensus estimate for full-year 2025 and 2026 EPS also followed suit.
Image Source: Zacks Investment Research
The consensus estimate for CNC’s 2025 revenues indicates a year-over-year increase, but the same for EPS suggests a decline. For 2026, the case is exactly the opposite.
CNC stock currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Are Strategic Contracts and Partnerships Centene's Growth Engine?

Centene Corporation CNC relies on its Health Benefit Ratio (HBR) as a measure of profitability. Because Medicaid and ACA marketplace plans generate thinner margins than commercial insurance, even modest increases in HBR can meaningfully pressure earnings. As a dominant player in both markets, Centene remains highly sensitive to these shifts.
Recently, several factors have strained HBR. Rising utilization in outpatient and behavioral health services, escalating specialty drug expenses, and the return of deferred care have all increased medical costs. At the same time, Medicaid redeterminations are shifting enrollment toward higher-acuity members, driving up claims severity. In second-quarter 2025, Centene’s HBR rose 550 basis points, reflecting lower Marketplace risk adjustment transfers, higher medical costs across Medicaid and Marketplace, and a Medicare Advantage premium deficiency reserve.
To counter these headwinds, Centene is strengthening utilization management, expanding value-based care contracts, tightening pharmacy cost controls, and pursuing digital efficiency investments. Streamlining through divestitures further supports operational discipline.
The newly enacted One Big Beautiful Bill Act adds structural challenges. Cuts to Medicaid funding, stricter verification requirements, and ACA enrollment curbs threaten to reduce membership, increase administrative costs, and cap premium growth potential.
Looking forward, balancing medical cost containment with careful enrollment management prudently will drive profitability. Despite near-term margin pressures, its scale, government program expertise, and ongoing efficiency measures provide resilience. Over the long term, these strengths should enable Centene to stabilize operations and maintain its leadership position in managed care.
What About its Peers?
HBR at UnitedHealth Group UNH and Humana HUM, two other healthcare plan providers, are influenced by medical cost trends, service utilization, and pharmacy spending. By effectively managing these elements, UnitedHealth as well as Humana maintains stable HBR levels that drive profitability. Leveraging technology, value-based care models, care coordination, and scale, UnitedHealth and Humana ensure margin strength and reinforce their leadership as sustainable healthcare providers.
CNC’s Price Performance
Shares of CNC have lost 51.5% year to date, underperforming the industry.
Image Source: Zacks Investment Research
CNC’s Cheap Valuation
CNC trades at a forward 12-month price-to-earnings of 11.55, below the industry average of 14.96.
Image Source: Zacks Investment Research
Estimate Movements for CNC
The Zacks Consensus Estimate for CNC’s third-quarter and fourth-quarter 2025 EPS witnessed a southward revision over the past seven days. The consensus estimate for full-year 2025 and 2026 EPS also followed suit.
Image Source: Zacks Investment Research
The consensus estimate for CNC’s 2025 revenues indicates a year-over-year increase, but the same for EPS suggests a decline. For 2026, the case is exactly the opposite.
CNC stock currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.