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SoFi and UnitedHealth are two of the notable stock movers in early trading on Wednesday.

In this article:
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Yahoo Finance's Julie Hyman and Brian Sozzi discuss Sofi and United Health care stocks.

Video Transcript

JULIE HYMAN: Some of the other stocks that we're watching right now, I want to talk about SoFi also. Because the stock is just having an incredible move this morning. It's up by nearly 20%. And the Office of the Comptroller of the Currency granting it a US banking charter, this is after it bought Golden Pacific Bank as a way to get that charter for the combined company.

I mean, you've been following this one for quite a while, Soz, and it's just fascinating, the growth that SoFi has seen, in terms of its evolution from a lender to now being a more fully-fledged fintech and now bank.

BRIAN SOZZI: No, we've-- listen. A CEO over at SoFi, Anthony Noto, is one of the first people that actually came onto our network when we launched. So we've been following his story very closely. When he came in here to essentially save SoFi, at the time when he came, they were dealing with cultural problems of their own. And by and large, this has been a complete transformation of SoFi under CEO Anthony Noto, a host of new products under him.

You have the IPO that occurred that has come off, by and large, pretty well. And now, this is the final piece to the puzzle, I would argue here. And you're seeing the stock go up really significantly, the top-trending ticker right now on the Yahoo Finance platform. This will help SoFi officially compete with some of the biggest banks in this country. They can help lend money more competitively and gain more business. And once they get those customers in there with these deposits, perhaps upsell them to other services it offers.

JULIE HYMAN: Yeah, and just to put the move today in perspective, the stock has been down as of late, right? We have been seeing a pretty-- a pretty big tumble for the shares. And about-- I was just checking. When you see a move like this, you have to wonder if there's a short squeeze going on-- about 11% of the shares as a percentage of float are sold short. So that could be one of the reasons that we are seeing that big boost in those SoFi shares today.

There, you're looking at the futures. And we got the opening bell ringing right now.


And there indeed is the opening bell on this Wednesday morning, with all three major averages set to open in the green, a little bit better of a tenor for some of the bank earnings today, at least in the way that they're trading. And, of course, we continue to watch Procter and Gamble and some of the other earnings' companies as well.

I just want to mention one more mover that I'm watching. And that is UnitedHealth Group, the biggest health insurer in the United States, the company coming out with earnings that not only beat the average estimate, they beat the highest estimate out there, adjusted earnings of $4.48 a share, revenue also coming in ahead of estimates, and the company reaffirming its outlook for 2022.

Remember, the company also owns Optum, which is a health services business, pharmacy management business as well. And it has just been contributing increasingly to United Health's overall number as well. One more thing to mention as well, when you're talking about the health insurers, you have to talk about the so-called medical loss ratio. That's a percentage of premiums that get paid out to services.

A medical loss ratio 83.7% for the company and the company also, by the way, confirming its projections for Medicare enrollment for the year ahead. That's particularly significant because Humana, remember, earlier this month came out and cut its projections for Medicare enrollment, and that stock tumbled at the time. So UnitedHealth basically communicating here that it is not experiencing those same kind of challenges. So we'll watch that stock today.