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UNH dips after report that DOJ probe looking into more than just Medicare Advantage

The Department of Justice’s criminal probe against UnitedHealth is looking into more aspects of the healthcare giant’s business than just its government-sponsored insurance plans, Bloomberg reported Tuesday.

The Wall Street Journal had previously reported that the feds were investigating UnitedHealth’s Medicare Advantage billing practices. The DOJ is also looking into the company’s pharmacy benefit manager, Optum Rx, as well as the payments to physicians, sources told Bloomberg.

UnitedHealth fell about 1% immediately after the report was published.

UnitedHealth fell about 1% immediately after the report was published.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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