Earnings Divergence, Upgrades and Policy Tailwinds: UnitedHealth and 3M Set the Tone as Industrials and Retail Watch Tariff Refunds

$INTC — UnitedHealth’s Q1 beat, raised FY2026 outlook and $2B buyback drove the day’s biggest market reaction, while 3M’s beat‑with‑caveats (quarterly beat but below‑consensus guidance) highlighted growing dispersion between reported results and forward visibility. Analysts’ upgrades (Allianz, Intel) and the launch of a tariff‑refund portal for large retailers added cross‑sector catalysts and a mix of near‑term optimism and uncertainty.