UnitedHealth pares losses on saying allegations in media report known, found inaccurate by US DOJ

Shares of UnitedHealth UNH.N down 4.5% premarket, pulling back from an over 8% drop earlier

UNH stock fell after The Guardian reported the insurer secretly paid nursing homes thousands in bonuses to help slash hospital transfers for ailing residents to save costs

But stock pared losses after UNH responded saying, the US DOJ has "investigated these allegations, interviewed witnesses, and obtained thousands of documents that demonstrated the significant factual inaccuracies in the allegations"

Stock down ~36.5% YTD, under pressure from CEO exit, suspension of FY forecast, WSJ report of criminal probe for possible Medicare fraud

Separately, HSBC cuts stock to 'reduce' from 'hold', slashes PT to $270 from $490; stock last at $307.20 premarket

HSBC says while new CEO has a clean(er) slate to start, there are risk to earnings growth along with policy overhang