Tuesday A.M. Report

UnitedHealth profits up 23% in Q3: UnitedHealth Group Inc. earnings were up 23 percent in the third quarter as the health insurer enjoyed a revenue boost across its business lines. Minnetonka-based UnitedHealth saw a profit of $1.27 billion, or $1.14 per share, for the quarter ended Sept. 30, versus a profit of $1.04 billion, or 89 cents per share, for the same quarter a year ago, Revenue was up 9 percent, to $23.67 billion. Read full story

Paris-based Cellectis opens shop in St. Paul: Cellectis, a Paris-based genetics company, has opened a plant applications subsidiary in St. Paul. Cellectis Plant Sciences recently signed a licensing agreement with Iowa-based Midwest Oilseeds to use Midwest’s aerosol beam injector technology to modify plant genomes. The idea is to create new crop varieties with desirable traits, such as drought resistance, enhanced nutritional qualities and disease resistance. Read full story
Supervalu misses Q2 estimates, records $1.5 billion charge: Supervalu reported second-quarter 2011 net sales of $8.7 billion and a net loss of $1.47 billion, or $6.94 per share. The loss included a large one-time charge of $1.52 billion, or $7.16 per share that the firm said was “triggered by a required reconciliation of Supervalu’s stock price to book value per share.” After adjusting for charges, the Eden Prairie-based company said it would have earned $59 million, or 28 cents per share in the second quarter. Read full story

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