Thursday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines from Jane King.
Lilly stock up 19%
Lilly stock is up 19 percent in a week on hopes that its Alzheimer’s drug will continue to show benefit.
But some think the stock has gotten ahead of itself.
A Citi research analyst believes that rising market expectations will ultimately be tempered by caution given history of failed Alzheimer’s disease trials historically,
Lilly has said it will provide detailed data to back up last week’s announcement about the trial on March 13.
Banks see demand for PPP loans
Banks say they are seeing strong demand for PPP loans.
Applications opened last week for Indiana businesses.
Some banks say they are hearing a sense of urgency for small businesses that have been hit by the pandemic.
Hotels record lowest occupancy in 2020
U.S. hotels recorded the lowest occupancy rates on record in 2020.
The COVID-19 pandemic kept travelers at home and ate up lodging industry profits.
Hotel occupancy was just 44% for the year, down from 66% in 2019 and the lowest number on record, according to data provider STR. The industry passed 1 billion unsold rooms for the first time in history, topping the previous record of 786 million in 2009.
The industry will likely show nearly zero profit for the year.
Saga Cruises to require COVID-19 vaccine
A British cruise line will require a vaccine to be a passenger – a first in the industry.
Saga Cruises says passengers must have received both doses of the vaccine at least 14 days before they are set to board.
As for those who are simply not interested in being vaccinated for whatever reason, they will not be able to sail under the current guidelines.
Groundhog Cameo for $80
You can celebrate groundhog day with a $80 Cameo from Punxsutawney Phil.
The “world famous groundhog” joined the growing list of animal creators on cameo, which means you can book your very own video for a price.
It’s a video-sharing platform that allows people to pay for customized videos from actors, musicians, athletes, political commentators, and of course, animals.