The FDA approves expanded use of AbbVie's (ABBV) Skyrizi, Merck's (MRK) Vaxneuvance vaccine and Novartis's (NVS) cancer combination drugs, Tafinlar (dabrafenib) + Mekinist (trametinib).
As prices go down, yields go up, and that dynamic has made both Target (NYSE: TGT) and AbbVie (NYSE: ABBV) excellent choices for bargain-hunters searching for quality companies with yields well above the current 1.7% average of S&P 500 index stocks. For quite some time, Target was the retail stock that could do no wrong. The company repeatedly posted revenue growth and strong profitability, even through the pandemic, and there was little indication of serious trouble.
With the latest approval for chronic migraine prevention, AbbVie's(ABBV) Qulipta becomes the only CGRP receptor antagonist approved for a broad preventive treatment of migraine indication.