UnitedHealth Group's stock declined following its Q2 earnings report, which revealed a significant miss on earnings per share and a lower-than-expected full-year outlook. The company attributed its disappointing guidance to rising medical costs and changes in its business plans.

( NewsNation) — UnitedHealth will drop several Medicare Advantage plans that collectively cover more than 600,000 people, part of a broader financial reset as the company grapples with rising medical costs.

UnitedHealth Group reported second quarter earnings Tuesday, for the first time not serving as the bellwether for the industry.

The current profit-reporting season felt its first major wobble on Tuesday as weaker-than-expected results from a trio of stocks highlighted the underlying softness of the domestic economy and the market’s resulting reliance on megacap tech.