Fundamentals still matter at UnitedHealth ( UNH). The company's stock, guided in recent weeks by a stock options probe, jumped 5% Wednesday, passing $50 for the first time since late spring, on news of solid second-quarter results . Rapid growth in key areas, such as Medicare Part D and consumer-driven health plans, lifted quarterly profits above expectations and allowed the company to raise the bar for the entire year. Investors felt so cheered by the news that they stopped dwelling on the options probe -- and even stopped asking about it, for a change. CEO William McGuire, a paper billionaire at the center of that investigation, barely mentioned an ongoing review of the company's stock option grants during a conference call on Wednesday. He also made clear that he could offer little more if asked for an update "It is frustrating to all of us," he acknowledged at the beginning of the call. "But the integrity of the review process must be assured." Although other companies have completed similar reviews in a matter of weeks -- and this one has now dragged on for months -- investors accepted McGuire's brief comment without argument and settled in for some good news about the latest quarter instead. On that topic, at least, the company had plenty to say. For starters, UnitedHealth saw its second-quarter revenue surge by 57% to $17.9 billion following its acquisition of big-time Medicare player PacifiCare. Net income jumped a solid 26% to $974 million, with earnings per share of 70 cents beating analyst expectations by 2 cents. Given that upside -- and a robust outlook for the second half of the year -- the company has raised its 2006 guidance to between $2.91 and $2.95 a share. It could, therefore, beat the current consensus estimate of $2.92 a share if everything goes as planned.