On this episode of Stock Movers:
- UnitedHealth Group (UNH) is lower this morning after it suspended its 2025 outlook, citing higher-than-expected medical costs for new Medicare Advantage beneficiaries, and expects to return to growth in 2026. The company also named Stephen Hemsley as its new CEO, replacing Andrew Witty, effective immediately.
- Advanced Micro Devices (AMD) is getting a boost with the Trump administration preparing to announce a deal that would grant Saudi Arabia more access to advanced semiconductors, allowing the country to increase its data center capacity.
- Nvidia (NVDA) is following AMD as it awaits an announcement on a chips deal. The agreement would allow Saudi Arabia to buy chips from companies like Nvidia and Advanced Micro Devices, but US officials are concerned about the potential for China to access these chips.
- FedEx (FDX) is trending higher this morning after Amazon reached a multiyear agreement with FedEx to deliver large packages for the online retailer, renewing a relationship between the two companies that ended in 2019. The deal follows plans announced in January by UPS to reduce by half the number of packages it delivers for Amazon by the end of 2026.