Updates
** Shares of UnitedHealth Group UNH.N slump 19.5% premarket after the insurance bellwether cuts its annual profit forecast on higher costs; sparks slide across sector
** UNH cuts its annual adjusted profit forecast to a range of $26 to $26.50 per share from between $29.50 and $30 projected earlier
** CVS Health CVS.N down 7.8%, Cigna CI.N 3.2%, Centene CNC.N 8.8%
** Elevance Health ELV.N falls 10.4%, Humana HUM.N 13.5% and Molina Healthcare MOH.N 7.5%
** UNH reports Q1 adjusted profit of $7.20 per share, compared with analysts' expectation of $7.29 - data compiled by LSEG
** As of last close, UNH shares up ~16% YTD
(Reporting by Bhanvi Satija and Christy Santhosh in Bengaluru)
((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91 9873062788;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.