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UnitedHealth raises 2016 earnings outlook as first quarter beats

Health insurer UnitedHealth Group Inc (UNH.N) on Tuesday raised its expectations for 2016 profit, in part because of a more favorable tax rate that also helped it beat Wall Street expectations for the first quarter.

Lower sales and administrative costs and a lower amortization of intangible assets also helped its first quarter profit rise about 9 cents more than analysts expected.

UnitedHealth shares gained 2 percent in early morning trading to $130.52.