Month: May 2020

Texas Capital Bancshares (TCBI) and Independent Bank (IBCP) have mutually agreed to terminate their merger agreement, previously announced on December 9, under which the parties had agreed to combine in an all-stock merger of equals.The companies have now entered into a Mutual Termination Agreement which was approved by the board of directors of both companies. Neither party will pay any termination fee. On the news Piper Sandler analyst Brad Milsaps downgraded TCBI from buy to hold, while slashing his price target from $41 to $26 (9% downside potential).David Brooks, CEO of Independent Bank Group (IBTX), said, “While both companies believed …read more […]

Finding a reliable stock strategy is a key to sanity in this Age of Coronavirus. The pandemic has pushed governments to impost extreme economic shutdown orders, as part of a larger society ‘stay at home’ policy. The result has been a stoppage of business, a decline in earnings, and a sudden sharp turn from steady economic growth to a deep recessionary event, perhaps even a Depression. And so, for investors, a reliable stock strategy is both necessary and hard to find.One strategy is to follow the insiders. Insiders are the corporate officers and board members charged with running and overseeing …read more […]

Shares in Aurinia Pharmaceuticals, Inc (AUPH) advanced in pre-market trading as the biotech company announced the submission of the New Drug Application (NDA) for its experimental voclosporin drug for the treatment kidney inflammation.The stock rose 3.1% to $16.75 in pre-market U.S. trading. Aurinia said that the NDA submitted to the U.S. Food and Drug Administration (FDA) is backed by a global clinical program including the pivotal Phase 3 Aurora study and the pivotal Phase 2 Aura LV study.There are currently no FDA-approved treatments for serious kidney inflammation, also known as lupus nephritis (LN). Voclosporin is a potentially best-in-class calcineurin inhibitor …read more […]

Some travel insurers are refusing to give policyholders their money back despite trips being canceled because of the coronavirus. …read more […]

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