UnitedHealth Group (UNH) is being investigated by Justice Department officials (DOJ), according to the Wall Street Journal, over alleged fraud tied to the health insurer's Medicare Advantage business. This comes as UnitedHealth CEO Andrew Witty stepped down earlier this week with former CEO Stephen Hemsley returning to man the chief executive role.

President Trump is pushing iPhone maker Apple (AAPL) to begin domestic production of devices and pull out of its investments to build out a plant in India.

CoreWeave (CRWV) stock pops on its first earnings report since going public via an IPO.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

Video Transcript

00:00 Speaker A

Now time for some of today's trending tickers. We are watching United Health, Apple and CoreWeave. First up, United Health under investigation for possible criminal Medicare fraud, according to a report from the Wall Street Journal. The Justice Department is focusing in on the company's Medicare Advantage business practices. This adds to other investigations into United Health including potential antitrust violation. You're taking a look at shares right now moving lower by about 8.3%. It's been in a bad week. No good. Can't get up type of week for UNH shares, as we saw the stock dip earlier this week on the announcements from the company both financials and C-Suite shakeup.

00:55 Speaker B

Right, exactly. This comes of course after the company announced the departure of its CEO Andrew Witty due to personal reasons. Also suspended their full year guidance, the latest company to do that. And we should also mention this investigation from the Justice Department has been ongoing since last summer according to the Wall Street Journal reporting. So something that we will certainly continue to cover as we get more information about that investigation. But next up, let's talk about Apple. President Trump pushing the iPhone maker to stop building plants in India, telling CEO Tim Cook to increase production in America. Apple assembled $22 billion worth of iPhones in India in the 12 months ending in March up nearly 60% from a year earlier. This is the perfect example of the administration putting these companies in a bit of a tough spot because they want to avoid tariff policy, they move production to India, but then you might get called out by the president in a presser and Q&A from the White House as well.

02:08 Speaker A

Yes, slack jawed I am right now, and here's why. Number one, file folder not going to happen. They need India and India also wants them to produce more within that region in order to sell directly into that consumer. So that's one thing. But two things can be true at the same time. Apple can also ramp up production here, but it doesn't have to be on the iPhone, which is the bread and butter of its business. It could be other products. It's just a matter of how and over what time frame because Apple can put forward a dollar figure, but then say, okay, yeah, we'll take 10 years to put that into action. That's one of the ways that we've seen companies making their vows or their commitments to the administration, but at the same time saying, oh, you know, we need some time to put billions of dollars into action on these things.

03:10 Speaker B

And we had Dan Ives saying if they produce in the US, iPhone could be $3,500.

03:15 Speaker A

I don't want to pay $3,500 for an iPhone. Sorry, I'm sorry. Finally here, Core Weave's revenue soaring more than 400% in its first earnings report since going public here. The company announcing higher than expected capital expenditure plans, expecting $20 billion to $23 billion for the year. Shares of core weave. Hey, nice little reception. They're up by about 1.92%.

03:47 Speaker B

This has been an interesting one cuz I broke the earnings on this last evening on the show, and we saw pop in the stock up as much as 6%. Then they announced their debt load, and like that, so then we saw the stock declining by as much as 9%. And now we've got a bit of a recovery today. We're going to continue to monitor moves with core weave again that revenue coming in better than the streets expectations, but the debt load that is a question, especially as interest rates are expected to remain a bit higher for longer. For our audience watching, you can scan the QR code below to track the best and worst performing stocks with our trending tickers page.  Related Videos

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