First Covid Drug Approved in US and AT&T Up on Earnings 💊

First Covid Drug Approved in US and AT&T Up on Earnings

Gilead – GILD

The FDA approved Gilead antiviral drug Remdesivir as a treatment for the coronavirus yesterday causing the company’s stock price to jump more than 7% in after-hours trading. The drug was previously given emergency use authorization and was shown to shorten recovery of some hospitalized patients. However, a WHO study recently revealed that the drug does little to nothing to prevent death in hospitalized patients.

Still, this is a big deal because the drug is the first to have full FDA approval to treat the disease. With its current cost of $3,120 per five-day treatment, Gilead is certainly happy to finally have their drug approved.

AT&T – T

The company met its third quarter earnings expectations and exceeded revenue projections when it reported yesterday morning. Investors were also surprised to see the company post double the phone subscriber growth that its competitor Verizon reported.

Another promising aspect of AT&T’s third quarter was a 1.7 million person increase in subscribers to streaming services HBO and HBO Max. However, it’s still not all great for the company as many of its brands continue to struggle. DirecTV continues to be challenged by cord cutting, and WarnerMedia has been hurt by a struggling movie theater industry.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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