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Plug Power stock down ahead of Congress climate vote, UnitedHealth boosts full-year forecast

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Yahoo Finance Live checks out several of the day's trending stocks, including UnitedHealth Group's profit beat and gaming stocks popping off after an influx of Tiger Woods sports bets.

Video Transcript

[MUSIC PLAYING]

RACHELLE AKUFFO: All right, everyone. We are back. We have a Triple Play, and my pick is Plug Power. Now it's one of several renewable energy stocks getting the wind knocked out of them Friday after seeing gains earlier this week. Now Plug shares currently down just over about 12 and one a half percent there, and down 45% year to date.

Now this comes amid West Virginia Senator Joe Manchin saying he's withdrawing support for the climate or tax provisions in a Democratic economic budget proposal. And this is after months of concessions and negotiations with Manchin, CNN reporting he's eyeing inflation data and the Fed's rate hike before pursuing negotiations.

Now without Manchin's support, the Biden administration is unlikely to see much movement on its green energy subsidies. Bloom Energy and Ballard Power Systems also declining today on that news as well.

SEANA SMITH: Yeah, Rachelle, it's going to be interesting to see whether or not this does get passed after that August recess. You were mentioning the fact that Senator Manchin wants to wait and see the latest inflation data; also the Fed's decision at the end of this month. I don't know how much that would really change this in terms of the projections that are out there. I think it's pretty clear what we are likely to see. But I don't know, it looks like it might be an uphill battle here, whether or not this gets passed in the fall.

All right, well, my play today is UnitedHealth. It's a trending ticker. Shares are up on strong earnings, now the insurer beating the street's estimates on both the top and bottom lines. Also raising its full-year outlook. The results were helped in part by strong results from its Optum health care services unit. Now this includes a pharmacy benefits manager; also data and consulting services. CFO John Rex is saying on the earnings call that the company expects double-digit revenue growth in the Optum health business, quote, "for many years."

And these results may be good news for other names in this sector, like Cigna and also Humana. Evercore, writing in a research note, Dave, that the numbers, quote, "reinforce expectations for continued favorable utilization trends, and beats and raises this quarter." We can see that reflected in the stock today, with shares up just about 5%.

DAVE BRIGGS: And not just good news for investors. There's some good news for seniors in here, when you look at the commentary from their CEO, Andrew Witty, who says seniors in particular served by Medicare Advantage spend about 40% less out of pocket than those participating in fee-for-service. That's about $2,000 a year for seniors. So nice to see some good news for investors and seniors, consumers, as well.

All right. My play comes from the gaming sector. It is a very good day, that those that bet on gaming stocks, though Caesars and Penn National have been hit hard over the last 12 months, down 60% and 55% respectively. They are two of the biggest movers on the day on the upward side of the S&P. Both are up more than 5%. In fact, Penn National up more than 7%, a huge riser on this day.

Also DraftKings's shares surging nearly 14% on this day. They are having a great end of the week. They too have had a rough go of it recently, falling more than 70% in the last year.

Bloomberg's, though, aggregate price target on DraftKings, 25.37. That represents 100% upside. So there is a play there.

DK a beneficiary, by the way, of Tiger Woods struggling at the Open Championship. More than 50% of the betting handle came in on Tiger Woods. That's more than three times any other player. And sadly, Tiger Woods missed the cut at the open, Rachelle.

It was hard to see Tiger. I don't know if you saw it. But tears in his eyes as he walked up the 18th, looked like a goodbye to the birthplace of golf.

RACHELLE AKUFFO: I mean, it's sad. And when we remember what he's been through to get to this point-- that horrible car accident, the surgery on his leg-- a lot of people wondered if he'd ever play golf again. Obviously, a lot of us welcomed him coming back. We were looking forward to it. But it's tough to see when someone that, you know, that you idolize in golf, sort of, you know, falling down at this point.

And you know, we wish him well. We hope it's not a final goodbye. He certainly deserves a better finish than this.

SEANA SMITH: So Dave, do you think he's retiring? You think this might be it?

DAVE BRIGGS: No, I think-- I think what you saw in the tears is a recognition that "I probably never compete at the Open Championship at St. Andrews as a guy who's here to win."

SEANA SMITH: Yeah.

DAVE BRIGGS: I think from now on, in all likelihood, he's a ceremonial figure in the game of golf. And that will be great for the next 20 years. Arnold Palmer, Jack Nicklaus, they were ceremonial for many, many years. So it's just a different Tiger. We're going to have to appreciate his greatness past.