Alphabet's Gemini 2.0, UnitedHealth, Stitch Fix: Market Minute

Eli GrantWednesday, Dec 11, 2024 12:22 pm ET

3min read

Alphabet Inc.'s (GOOGL) shares surged 4.5% on Wednesday, driven by the announcement of its new quantum computing chip, Willow. The chip successfully performed a complex computation in just five minutes, which would take today's fastest supercomputers 100,000,000,000,000,000,000,000 years to solve. Although Willow is still in development, Alphabet's investment in quantum computing signals its commitment to emerging technologies.

UnitedHealth Group Incorporated (UNH) reported strong earnings, with EPS of $15.37, beating analyst estimates of $15.17. The company's Optum segment, which provides care delivery and health financial services, contributed significantly to its growth. UNH's stock price has risen 21% year-to-date, reflecting investors' confidence in the company's diversified healthcare offerings.

Stitch Fix Inc. (SFIX) shares fell 10% after the company reported mixed results. While revenue grew 14% year-over-year, the company missed EPS estimates by $0.03. Stitch Fix's active client count increased by 18% to 4.2 million, but the company's guidance for the next quarter fell short of expectations. Despite the recent dip, SFIX's stock has risen 12% year-to-date, reflecting its strong growth potential in the online fashion retail market.

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