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Thursday, October 22, 2020
Banking Rx for worried investors

Rx for worried investors

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Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

Investors unnerved by stock market gyrations and the COVID-19 pandemic have a possible safe haven: the industry developing treatments and vaccines against the virus. Major drugmakers’ sales of lucrative medicines for cancer, diabetes and other serious diseases should remain strong, says Jefferies analyst Michael Yee. “Those patients need their medicine more than ever,” Yee said, because their conditions raise the risk of contracting the coronavirus. That should limit any impact on drugmakers’ revenue and profits. “You have a good idea what the numbers are going to look like over the next few years,” unlike other sectors, Yee said. Meanwhile, big drugmakers still have “robust pipelines” of experimental drugs and their share prices have dropped amid the crisis. “So you can have an upside because you’re no longer paying for the pipeline,” Yee noted. Among the major biotech drugmakers with potential approvals of important drugs looming are Biogen, Vertex Pharmaceuticals and Gilead Sciences. Yee also recommends exchange traded funds like the S&P Biotechnology or S&P Pharmaceuticals. On the other hand, no-revenue companies trying to develop coronavirus medicines are risky, Yee cautioned

Latest News

Tarrant County reports 2 COVID deaths

Tarrant County Public Health on Thursday, Oct. 22 reported two COVID-19 deaths. The deceased include a man from Arlington in his 80s...

Bradford to lease White Rock Tower

AG Commercial Management LLC has selected Bradford Commercial Real Estate Services to lease its newest holding, White Rock Tower, the only midrise...

Texas reports most active COVID-19 cases since summer peak

AUSTIN, Texas (AP) — The second coronavirus wave in Texas continued with more active cases than at any time since the summertime...

First Cash Financial Services: 3Q Earnings Snapshot

FORT WORTH, Texas (AP) _ First Cash Financial Services Inc. (FCFS) on Wednesday reported third-quarter profit of $15.1 million.The Fort Worth-based company...

BOK Financial: 3Q Earnings Snapshot

TULSA, Okla. (AP) _ BOK Financial Corp. (BOKF) on Wednesday reported third-quarter profit of $154 million.The Tulsa, Oklahoma-based bank said it had...