By Connor Hart

UnitedHealth Group is being investigated by the Justice Department for possible criminal Medicare fraud, The Wall Street Journal reported, citing people familiar with the matter. The healthcare-fraud unit of the Justice Department's criminal division is overseeing the investigation, the people said. While the exact nature of the potential criminal allegations against UnitedHealth is unclear, sources said the federal investigation is focusing on the company's Medicare Advantage business practices. Shares fall 6.2%, to $289.50, in after-hours trading.

Foot Locker is close to being bought by Dick's Sporting Goods for roughly $2.3 billion, The Wall Street Journal reported, citing people familiar with the matter. A deal could be finalized as soon as Thursday, barring any last minute snags. Both parties have discussed a deal at $24 a share for Foot Locker, the people said. In post-market trading, shares of Foot Locker surge 69%, to $21.75, while shares of Dick's fall 6%, to $196.99.

CoreWeave posted a five-fold jump in revenue in its first earnings report as a public company, fueled by what Chief Executive Mike Intrator called accelerating customer demand. The cloud provider plans to pull forward certain investments in order to continue meeting demand, Intrator added, warning that these higher costs are expected to have a near-term effect on margins. Shares, which initially climbed in post-market trading, have since reversed course and were recently down 5.5%, to $63.72.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 14, 2025 19:25 ET (23:25 GMT)

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