Post-Bell | Dow Ends Higher After UnitedHealth 12% Gains. Sunrun Soars 33%; Circle Rises 7%; Robinhood, Intel Jump 3%; SBET Falls 16%

The blue-chip Dow Jones ended higher after hitting an intraday record high on Friday, as UnitedHealth's shares jumped after Berkshire Hathaway raised its stake, but other Wall Street indexes slipped as mixed data clouded the Federal Reserve's next monetary policy move.

Market Snapshot

The Dow Jones Industrial Average rose 34.86 points, or 0.08%, to 44,946.12, the S&P 500 lost 18.74 points, or 0.29%, to 6,449.80 and the Nasdaq Composite lost 87.69 points, or 0.40%, to 21,622.98. Sunrun up 33%; Lyft, Inc. up 8%, Circle Internet Corp. up 7%, Robinhood up 3%; SharpLink Gaming fell 16%.

Market Movers

UnitedHealth gained 12% after Warren Buffett's Berkshire Hathaway revealed in a regulatory filing that it bought roughly five million shares in the company, worth about $1.6 billion. Rival health insurers Elevance Health, Molina Healthcare, and Centene also traded higher. Berkshire Hathaway purchased shares of home builders Lennar and D.R. Horton, and steel maker Nucor in the second quarter as well. Nucor rose 0.7%. Berkshire also pared its investments in Apple and Bank of America.

Applied tumbled 14% after the largest chip-equipment maker in the world reported fiscal third-quarter earnings and revenue that beat analysts' estimates but issued a range of revenue guidance for the current quarter that at the midpoint of $6.7 billion was below consensus of $7.33 billion. Peers Lam Research and KLA fell 7.3% and 8.4%, respectively.

Intel rose 2.9% after it was reported the Trump administration was in talks to have the U.S. government potentially take a stake in the chip maker. The move would help Intel expand domestic manufacturing and help shore up the company's factory buildout plans in Ohio, Bloomberg reported, citing people familiar with the plan. The size of the potential stake wasn't clear, the report added.

Quantum Computing was down 0.4%. The company reported second-quarter revenue of $61,000, up from $39,000 in the previous quarter but well below year-earlier revenue of $183,000, a figure the company said largely was driven by "contractual sales." Operating expenses in the period rose to $10.2 million from $5.3 million a year earlier.

Opendoor Technologies rose 4.3%. The real-estate platform company said Chief Executive Carrie Wheeler had stepped down and a search for a new CEO was under way. Shrisha Radhakrishna, who was serving as chief technology and product officer, was appointed as interim leader.

Nu rose 9.1% after the Brazilian fintech reported second-quarter net profit growing 42% from last year to $637 million, beating expectations. The company added 4.1 million new customers in the quarter, reaching a total of 122.7 million customers globally.

Target fell 1.2% to $103.02. Shares of the retailer were downgraded to Underperform from Neutral at BofA Securities and analysts reduced their price target to $93 from $105 , citing underperformance on digital growth and investments relative to industry peers.

Market News

Trump Says No Summit Deal Reached with Putin over Ending War in Ukraine

U.S. President Donald Trump said that nearly three hours of direct talks with Russian President Vladimir Putin on Friday did not yield an agreement to pause Moscow's war in Ukraine, though he characterized the meeting as "very productive."

During brief remarks to reporters, the two leaders said they had made progress on unspecified issues, but they offered no details and took no questions.

Fed's Daly: Two Rate Cuts, More or Less, Appropriate This Year

San Francisco Federal Reserve Bank President Mary Daly, in an interview following economic reports showing stronger-than-expected retail sales and an unexpected jump in wholesale prices last month, signaled that she is still on board for beginning to ease policy as soon as next month.

A softening labor market, an economy that's slowing but not slow, as weighed against inflation that is still above the Fed's goal "would warrant a couple of cuts sometime this year," Daly told Fox Business' Maria Bartiromo in the interview, which aired late on Friday. "Of course, we will wait to see the data and maybe it'll be fewer, maybe it'll be more, but ultimately, I think two remains a good projection.

Meta Plans Fourth Restructuring of AI Efforts in Six Months, The Information Reports

Meta Platforms, Inc. is planning its fourth overhaul of artificial intelligence efforts in six months, The Information reported on Friday, citing three people familiar with the matter.

The company is expected to divide its new AI unit, Superintelligence Labs, into four groups: a new "TBD Lab," short for to be determined; a products team including the Meta AI assistant; an infrastructure team; and the Fundamental AI Research (FAIR) lab focused on long-term research, the report said, citing two people.