Capital One Sinks, UnitedHealth Drops, Shake Shack Slips on Weak Forecast
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Capital One Sinks, UnitedHealth Drops, Shake Shack Slips on Weak Forecast
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On this episode of Stock Movers:
- Capital One (COF) shares sink after President Donald Trump called on credit-card companies to cap interest rates at 10% for a year. The cap proposed by the president could wipe out earnings from cards for a year and ruin card economics, according to Mike Mayo, an analyst at Wells Fargo & Co.
- UnitedHealth (UNH) shares fall after a new Senate report found that the company used “aggressive strategies” to maximize diagnoses and boost payments for patients on private Medicare health plans. This adds to pressure on the largest US health insurer.
- Shake Shack (SHAK) shares slip after the burger chain reported preliminary fourth-quarter sales below Wall Street estimates. It's another sign of struggles in the fast-casual restaurant sector.
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