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The E.W. Scripps Company now has a reach of 21 percent of U.S. television households after purchasing 15 television stations.That brings the total number of stations for Scripps to 51. The purchase from Cordillera Communications was 1 million. It adds more NBC and CBS stations to Scripps' strong ABC roster.The Cordillera stations will significantly diversify the Scripps portfolio, growing it to 51 stations, including 18 ABC stations, 11 NBC stations, seven CBS stations and two Fox stations. Scripps will operate seven duopolies, efficiently enhancing the depth and durability of the portfolio.The stations Scripps is acquiring are: 652
The erratic stock market just made a serious comeback.Fears about slowing earnings growth sent the Dow careening 549 points lower on Tuesday before the index raced back to life.By the closing bell, the Dow was only down 126 points, or 0.5%.Similarly, the Nasdaq closed down 0.4%, erasing the vast majority of a 2.6% plunge. The index also climbed out of a technical correction, a 10% decline from prior highs.The S&P 500 suffered its fifth straight loss. But the broad index finished just modestly lower after touching its weakest point in nearly four months.Market veterans saw little reason for the dramatic recovery -- other than the fact that stocks had gotten to oversold levels."It was an impressive day. We reversed on very little news," said Art Hogan, chief market strategist at B. Riley FBR.Hogan pointed to how the rebound was led by two of the most beaten-down corners of the market: homebuilders and chip makers.Stocks sold off early on Tuesday after major US companies reported gloomy results and guidance. Disappointing numbers from Caterpillar and 3M reinforced ongoing concerns about how long blockbuster profits can last, especially given tariffs and rising costs."Investors are skittish about whether we've seen a peak in earnings," said Mark Luschini, chief market strategist at Janney Capital Management. "It's a schizophrenic market environment where things that didn't matter suddenly do."It's been a scary month for investors. The Dow and Nasdaq are on track for their worst months since January 2016."The market is fragile," said Rich Guerrini, CEO of PNC Investments. "But we're telling our investors to relax. We're in a correction. I think the market does have some legs left."The CNN Business Fear & Greed Index slipped further into "extreme fear." A month ago the gauge of market sentiment was flashing "extreme greed."Wall Street was also spooked by extreme turbulence in China, the epicenter of the trade war. The Shanghai Composite dropped 2.3% overnight. The sell-off wiped out a chunk of Monday's spike, the benchmark index's best day since March 2016. 2114
The Food and Drug Administration released updated safety standards Tuesday for makers of COVID-19 vaccines despite efforts by the White House to block them, clearing the way for requirements that are widely expected to prevent the introduction of a vaccine before Election Day.In the new guidelines posted on its website, the FDA said vaccine makers should follow trial participants for at least two months to rule out any major side effects before seeking emergency approval. That standard had been a sticking point between the FDA and White House officials, who said it could unreasonably delay the availability of COVID-19 vaccines.President Donald Trump has repeatedly insisted a vaccine could be authorized before Nov. 3, even though top government scientists working on the effort have said that timeline is very unlikely. On Monday Trump said vaccines are coming “momentarily,” in a video recorded after he returned to the White House.Former FDA officials have warned that public perception that a vaccine was being rushed out for political reasons could derail efforts to vaccinate millions of Americans.A senior administration official confirmed Monday that the White House had blocked FDA’s plans to formally publish the safety guidelines based on the two-month data requirement, arguing there was “no clinical or medical reason” for it.But on Tuesday, the FDA posted the guidance on its website, making clear that regulators plan to impose the safety standards for any vaccine seeking an expedited path to market.FDA Commissioner Stephen Hahn said in a statement that he hoped the guidelines would help “the public understand our science-based decision-making process that assures vaccine quality, safety and efficacy.”The requirements are aimed at companies seeking rapid approval through the FDA’s emergency authorization pathway. That accelerated process, reserved for health emergencies, allows medical products onto the market based on a lower bar than traditional FDA approval. But FDA has made clear only vaccines that are shown to be safe and effective will be authorized for coronavirus.Former FDA acting commissioner Dr. Stephen Ostroff said the requirements seem reasonable given the agency is in largely “uncharted territory” in terms of considering emergency use of a vaccine. The agency has only previously cleared one vaccine through the method — a decades-old shot that was authorized to prevent anthrax poisoning in 2005.“There really is no margin for error here,” Ostroff said. “Even when you’re talking about limited use of a vaccine there has to be some level of assurance that there isn’t a risk here that would far outweigh the benefit.”Dr. Peter Marks, the head of FDA’s vaccine division, said Tuesday that the two-month follow-up requirement was chosen to be “something reasonably aggressive, but not too conservative — right in the middle.” He spoke at a symposium organized by Johns Hopkins University.Initial doses of vaccines for emergency use would likely be reserved for medical workers and people with health conditions that make them particularly vulnerable to coronavirus. Full FDA approval for the general population will require significantly more data and is not expected until mid-2021.The White House attempt to block the guidance followed a string of instances in which the Trump administration has undercut its own medical experts working to combat the pandemic. FDA’s Hahn has been attempting to shore up public confidence in the vaccine review process for weeks, vowing that career scientists, not politicians, will decide if the shots are safe and effective.Pfizer CEO Albert Bourla has stoked excitement by saying that he expects data on whether the company’s candidate works to be ready in late October. But a number of variables would still have to align for the company to submit, and the FDA to review and greenlight, a vaccine application before Nov. 3. Pfizer’s competitors Moderna, AstraZeneca and Johnson & Johnson are working on longer research timelines.Vaccine development typically takes years, but the U.S. government has invested billions in efforts to accelerate the process and help multiple drugmakers prepare multiple candidates. All the doses will be purchased by the federal government for use vaccinating the U.S. population.Beyond exposing the rift between the White House and FDA, the delay in releasing the guidelines may have had limited practical effect.FDA scientists have been discussing the guidelines publicly for weeks and have made clear that the recommendations have already been shared with each of the vaccine developers.Former FDA Commissioner Scott Gottlieb said Tuesday that drugmakers depend on the FDA’s science-based endorsement to vouch for the safety and effectiveness of their products.“I can’t imagine a circumstance where a sponsor would challenge or seek to undermine the FDA’s role here,” Gottlieb said at the COVID-19 symposium. “This is precisely the moment when we need an objective, neutral arbiter.”Last week, Gottlieb and six other former FDA commissioners blasted the Trump administration for “undermining the credibility” of the agency in a op-ed calling for the release of the then-stalled vaccine guidelines.“Scientists should make decisions based on data, unfettered by political pressure or the intrusions of ideology or vested interests,” the officials wrote.___AP Medical Writer Lauran Neergaard contributed to this report.___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content. 5644
The Federal Aviation Administration has issued a safety alert about flying with dry ice onboard, in anticipation of the huge nationwide distribution project anticipated to start in the next few days once the Pfizer COVID-19 vaccine is approved for use.The Pfizer and Moderna vaccines both need to be kept at extremely cold temperatures, requiring the use of dry ice during transit.Dry ice is frozen carbon dioxide that is pressed into blocks or pellets. It doesn’t melt into a liquid, it moves directly from a solid to a gas and that process can happen quickly at high altitudes.That can cause problems onboard a plane, such as causing the plane to weigh less at times during the flight and change its center of gravity.“CO2 sensors installed or carried in the aircraft or worn by the pilots and other crewmembers will assist the operator and crew in recognizing hazardous concentrations of CO2 and implementing effective risk controls,” the FAA’s safety alert recommends.In addition, they encourage maximum ventilation onboard while on the ground and in the air, asking crewmembers to check air conditioning units and auxiliary power units before flight.Exposure to elevated levels of CO2 can cause drowsiness or dizziness, and higher levels can impact breathing eventually leading to hypoxia and death.The FAA also recommends that “pilot training on specific conditions and procedures can improve pilot decision-making in the event of a CO2 detector alert or other system abnormalities.”Friday morning, Health and Human Services Director Alex Azar said Americans could begin getting the COVID-19 vaccine next week once the FDA and CDC give it emergency use approval. 1676
The community in Mayfield Heights, Ohio is mourning the loss of a 17-year-old student who died on Wednesday night. Steven "Stevie" Grieshammer was a junior on the swim team at Mayfield High School. On February 25 during swimming exercises he did not come up from the water, according to a Facebook post by his aunt Missy Bifro Grieshammer. "He was a wonderful boy, a loving son, a fantastic swimmer, and just the sweetest nephew we could have. We will miss him every day," his uncle wrote in remembrance.According to his family, he spent days in a coma.Mayfield City Schools superintendent Dr. Keith Kelly released the following statement to parents and students.Our deepest condolences and most heartfelt thoughts and prayers go out to the Grieshammer family. We will remember Stevie. He touched many through his kindness and determinination. Remain strong and support one another. Keep his memory close by being inspired by his life.— Keith Kelly (@suptmayfield) March 1, 2018 1016