Stock market

Tech companies are having a quiet stock bonanza

Zoom IPO on NASDAQ

Consumer-focused businesses (Pinterest) have more cachet, but tech startups (Zoom) that cater to companies are the hotter stock offerings, The Wall Street Journal's Rolfe Winkler writes.

What's new: "50 U.S. business-software companies have gone public since 2016, including Twilio Inc., MongoDB Inc. and Zscaler Inc. That compares with 13 consumer-technology companies, such as Dropbox Inc. and Snap," the WSJ reports.

Wall Street is still selling off health care stocks

In this image, two men sit at computers underneath large trading board screens at the new york stock exchange.
The New York Stock Exchange (NYSE). Photo: Drew Angerer/Getty Images

Yesterday, UnitedHealth Group posted $3.5 billion of profit in the first quarter — its second-most profitable quarter ever — and collected more than $60 billion of revenue.

Between the lines: UnitedHealth's stock price also tanked by 4%, which consequently dragged down shares of the other major health insurers and hospital chains. Cigna’s stock price plummeted 8%, and Anthem and Humana were close behind. HCA tumbled 10%.