UnitedHealth Group (UNH) NewsBite - UNH Settles SEC Lawsuit
Posted: Tuesday, December 23, 2008 10:00 AM EDT
By: Market Intelligence Center Staff
UnitedHealth Group (NYSE: UNH) opened at $25.93. So far today, the stock has hit a low of $25.89 and a high of $26.49. UNH is now trading at $26.13, up $0.39 (1.52%). Over the last 52 weeks the stock has ranged from a low of $14.51 to a high of $59.46. UNH shares are trading higher this morning after the company reached a settlement with the Securities and Exchange Commission over a civil lawsuit. The SEC had alleged that UNH concealed more than $1 billion in stock-option compensation between 1994 and 2005. Under the settlement, the company's former General Counsel, David J. Lubben, will pay a $575,000 penalty and will repay $1.4 million in gains and $347,211 in prejudgment interest. Technical indicators for the stock are neutral and S&P gives UNH a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on UNH the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]
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