Shares of UnitedHealth Group are surging before the market open Friday as Warren Buffett's Berkshire Hathaway disclosed that it recently purchased shares of the beleaguered insurer.
Berkshire Hathaway bought around 5 million shares of UnitedHealth last quarter, according to a regulatory filing. The stake was valued at about $1.57 billion.
Buffett plans to retire as CEO at the end of the year after six decades of building Berkshire Hathaway. Many investors comb through Berkshire’s filings every quarter because they like to follow Buffett’s moves.
The filing doesn’t make clear who at Berkshire handled the investment. Besides Buffett, Ted Weschler and Todd Combs also pick stocks, but they generally handle smaller portfolios and Combs also serves as Geico’s CEO.
Besides stocks, Berkshire owns dozens of companies in a variety of industries including Geico insurance, BNSF railroad, several major utilities and an assortment of manufacturing and retail companies. The Omaha, Nebraska-based company’s holdings include many well-known brands like See’s Candy and Dairy Queen.
UnitedHealth has been dealing with a series of difficulties. Last month the company said that it was cooperating with federal criminal and civil investigations involving its market-leading Medicare business.
The health care giant said at the time that it had contacted the Department of Justice after reviewing media reports about investigations into certain elements of its business.
Earlier this year, The Wall Street Journal said federal officials had launched a civil fraud investigation into how the company records diagnoses that lead to extra payments for its Medicare Advantage, or MA, plans. Those are privately run versions of the government’s Medicare coverage program mostly for people ages 65 and over.
The company’s UnitedHealthcare business covers more than 8 million people as the nation’s largest provider of Medicare Advantage plans. The business has been under pressure in recent quarters due to rising care use and rate cuts.
The Journal said in February, citing anonymous sources, that the probe focused on billing practices in recent months.
The paper has since said that a federal criminal health care-fraud unit was investigating how the company used doctors and nurses to gather diagnoses that bolster payments.
UnitedHealth Group Inc. runs one of the nation’s largest health insurance and pharmacy benefits management businesses. It also operates a growing Optum business that provides care and technology support.
UnitedHealth's stock has mostly shed value since December, when UnitedHealthcare CEO Brian Thompson was fatally shot in midtown Manhattan on his way to the company’s annual investor meeting. A suspect, Luigi Mangione, has been charged in connection with the shooting.
In April, shares plunged some more after the company cut its forecast due to a spike in health care use. A month later, former CEO Andrew Witty resigned, and the company withdrew its forecast entirely, saying that medical costs from new Medicare Advantage members were higher than expected.
UnitedHealth's stock jumped more than 12% in premarket trading on Friday. Still, the stock has lost roughly half its value in the past year.
FILE - Pages from the United Healthcare website are displayed on a computer screen, Feb. 29, 2024, in New York. (AP Photo/Patrick Sison, File)
BOSTON (AP) — When Zdeno Chara signed with the Boston Bruins in 2006, the No. 3 he wore early in his career had already been retired by the Original Six franchise.
So he picked No. 33 without giving it much thought.
“Little did I know how meaningful 33 was,” Chara said on Thursday night before his number was raised to the TD Garden rafters not far from where Larry Bird's No. 33 already hangs in Celtics green.
It is the 13th number retired by the Bruins, and the latest in a collection of Hall of Fame defenseman that runs from Eddie Shore to Bobby Orr to Raymond Bourque.
“It's a huge honor,” Chara told reporters. "I can’t explain to you how honored I feel. I’m humbled about being selected to be one of the numbers being retired. Being with that history, forever."
The 2009 Norris Trophy winner and a 2025 Hockey Hall of Fame inductee, Chara spent 14 of his 24 NHL seasons in Boston, leading the Bruins to the 2011 Stanley Cup championship. His 1,680 games is the most of any NHL defenseman; at 6 feet, 9 inches (2.06m), he is the tallest player in league history, and his 108.8 mph (175.1 kmh) slap shot in the 2012 skills competition remains the NHL record.
But his teammates and other Bruins attending Thursday's ceremony said Chara's biggest contribution was signing with a team that hadn't won a playoff series in six years — “the best decision I ever made” — and turning them into champions.
“Things really changed when Zee came here as a free agent,” Bourque said. "From that point on, the culture and everything that comes with that, and the success and the run that they had, he was such a big part of that.
“He’s a legend,” Bourque said. “He really deserves to be up there.”
Bourque was among the former Bruins greats in attendance, along with Orr — both of them, like Chara, Boston defensemen who finished their careers elsewhere on their way to the Hall of Fame. They arrived via gold carpet that led them past adoring fans and the statue of Orr flying through the air following his Cup-winning goal in the 1970 finals.
Other fellow retired number honorees in attendance included Cam Neely, Willie O’Ree, Rick Middleton, Terry O'Reilly and John Bucyk. The current Bruins sat on the bench, all wearing Chara jerseys.
Five members of the 2011 roster — Patrice Bergeron, Mark Recchi, Dennis Seidenberg, David Krejci and Tuukka Rask — carried the retired number onto the ice, and teammate Andrew Ference served as emcee.
In his speech, Chara read the names of every player on the Bruins last Cup winners. Asked why, he said after: “Without championships, you are not going to be successful, you’re not going to be recognized.
"The championships, that’s what they do. They raise everyone, they extend careers for everyone,” he explained. "They create dynasties. They create stories. They create memories. They created what we’re experiencing tonight.
"It’s very simple: Once you win the championship, everything gets so much better for everyone. And the most beautiful thing about it: You create extended families with each other. It’s true. You have bonds, you have friendships that are now still forever. It’s amazing; it’s like you’re seeing your brother. You trust the person; you know everything about them. And anytime anybody needs something, you’re there for them.
“That’s what winning championships do,” he said. “Not just for a career, but for the rest of your lives, it means something very special.”
The ceremony at center ice featured a “Big Zee” ice sculpture flanking the podium and a large No. 33 behind it. Fans were asked to get in their seats two hours early, and the full TD Garden erupted in a giant shout of “Zee!” followed by an extended cheer of “Thank you, Chara!”
A highlight video featured former Bruins Brad Marchand and current coach Marco Sturm, Chara's teammate from 2006-10. Many of them spoke of the way Chara led by example.
“He wasn’t really a ‘Rah, rah!’ guy,” former Bruins forward and current team president Neely said, “but when he spoke, it was with a purpose.”
And so, when it was time to raise his No. 33 to the rafters, Chara stood by with his wife, Tatiana, while their children — Zack, Ben and Elliz — pulled the ropes.
“That’s the biggest reward for me: To see my children and my family doing it instead of me. I think I get better joy watching them doing it than the joy of me doing it because it's so much more meaningful,” he explained. "They deserve that more than me."
AP NHL: https://apnews.com/hub/nhl
Former Boston Bruins captain Zdeno Chara speaks during his number retirement ceremony before an NHL hockey game between the Boston Bruins and the Seattle Kraken Thursday, Jan. 15, 2026, in Boston. (AP Photo/Winslow Townson)
Former Boston Bruins captain Zdeno Chara leads his family over to his number "33" to raise it to the rafters before an NHL hockey game between the Boston Bruins and the Seattle Kraken, Thursday, Jan. 15, 2026, in Boston. (AP Photo/Winslow Townson)
Former Boston Bruins captain Zdeno Chara, center, waves to the crowd during his number retirement ceremony, as Bruins' players with their number already retired, from left, Willie O'Ree, Rick Middleton, Terrry O'Reilly, Cam Neely, emcee Andrew Ferrance and Bobby Orr look on before an NHL hockey game between the Boston Bruins and the Seattle Kraken, Thursday, Jan. 15, 2026, in Boston. (AP Photo/Winslow Townson)
Former Boston Bruins captain Zdeno Chara's number "33" is raised to the rafters at TD Garden before an NHL hockey game between the Boston Bruins and the Seattle Kraken Thursday, Jan. 15, 2026, in Boston. (AP Photo/Winslow Townson)
Bobby Orr applauds, left bottom, as former Boston Bruins captain Zdeno Chara waves to the crowd during his number retirement ceremony before an NHL hockey game between the Boston Bruins and the Seattle Kraken, Thursday, Jan. 15, 2026, in Boston. (AP Photo/Winslow Townson)
