UnitedHealth Shares Plunge, Travel Earnings, Musk to Audit the Fed? 2/21/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 21 February 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla and Jim Cramer kicked off the show live from the NYSE, with co-anchor David Faber still in Miami for the FII Priority Summit in Miami. The anchors began the show with UnitedHealth shares sliding following a report that the DOJ is investigating the company’s Medicare billing practices. The news impacted other names in the space like Cigna, CVS Health, and Humana, which all moved lower in sympathy. The desk also hit some of the big travel names on the move including Booking Holdings, which rallied on its latest numbers. Also in the mix; the group discussed Elon Musk’s appearance at CPAC, where he said he was thinking of auditing the Fed. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Friday morning. Welcome to Squawk in the Street. I'm Carl Kinteney with Jim Kramer at Post 9 of the New York Stock Exchange. David Faber, live at the FII Priority Summit down in Miami. Futures are mixed. The Dow is set to get pinched on this report regarding UNH, which we will get to. Overall, SMP is trying to eke out a positive week.
0:22.8	We'll get some PMIs and UMIS within the hour. on this report regarding UNH, which we will get to. Overall, SMP is trying to eke out a positive week.
0:22.6	We'll get some PMIs and UMIS within the hour.
0:24.6	Our roadmap begins with the DOJ,
0:26.6	investigating United Health's Medicare billing practices,
0:30.6	shares are tumbling pre-market and dragging the Dow down with it.
0:33.6	Plus, call it Musk versus the Fed, the Doge chiefs,
0:36.6	saying he's considering
0:38.4	auditing the central bank and Coinbase rallying after saying the SEC is set to end its enforcement
0:44.9	case. But let's get right to UNH. Shares are down on this journal story that the DOJ is
0:50.2	investigating the company over their Medicare billing practices. Jim and Joe is just going through the math on what this does to the Dow futures.
0:57.0	Well, look, I'll go the math of what it does in United Health.
0:59.7	This is going to be one of those wrong battles.
1:03.5	The government may win, may not.
1:05.2	Stocks down as if all the stocks are down as if this is the government, really cracking down on them.
1:11.1	I hate to say it because I think that there are a lot of people who feel that they,
1:15.1	Medicare billing practices if you read the article, are wrong.
1:18.6	Carl, these companies are survivors.
1:21.6	And you buy this?
1:23.5	You buy it here.
1:24.5	Oh, yeah, you buy it because United Health is very powerful.
1:27.1	I've often felt that United Health has every bit as powerful as a government because they are
	...

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