UnitedHealth Group (UNH) NewsBite - UnitedHealth Still Rising after Earnings

Posted on Wednesday, July 23, 2008 10:23 AM

UnitedHealth Group Inc. (UNH) opened at 27.92. So far today, the stock has hit a low of 27.86 and a high of 28.13. UNH is now trading at 27.96, up 1.75 (6.27%). The stock hit its 52 week high of 59.46 in December and set its 52 week low of 21.20 in July. UNH has been trading lower since the beginning of this year. UnitedHealth Group reported yesterday its second-quarter profit declined on a big charge from a legal settlement. However, the company was able to post earnings of 67 cents per share, beating analysts' predictions for a profit of 64 cents per share. Technical indicators for the stock are bearish but slightly improving while S&P gives UNH a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a September bull-put credit spread below the $22.50 range. UNH stock could fall up to 19.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]