|Day's Range||14.00 - 15.20|
Yahoo Finance’s Dan Howley joins Seana Smith on The Ticker to break down how the coronavirus is impacting big tech companies on The Ticker.
Tom Essaye, founder of The Sevens Report, and Stephen Guilfoyle of Sarge 986 LLC joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Julie Hyman to discuss the latest market action on The First Trade.
As coronavirus disrupts parts procurement from China, tech companies, apparel makers, and industrial-equipment concerns look most vulnerable. Why auto makers could be protected
Friday marked the first week ever not to register new U.S. investment-grade bond issuance, with the exception of periods during the Christmas and New Year's holidays, when markets go on hiatus, according to data provider Dealogic. The unprecedented dearth in the market, typically tapped by the likes of Apple Inc, Microsoft Corp and General Electric Co, highlights the investor uncertainty fueled by the rapid spread of the virus. Concerns about the disruption to the global economy stemming from the coronavirus have wiped off more $5 trillion in the value of global equities.
At least five tech conferences were canceled this week due to risks associated with COVID-19, and several more were hit with the loss of major participants.
The abandonment of a show as big as Mobile World Congress stings economically for the host city, mobile industry and entrepreneurs from across the globe who attend in hopes of doing deals. And it could just be the beginning.
Chip stocks and software stock break ranks with the rest of the tech sector on Friday, bouncing back amid a week long bloodbath for the broader U.S. market fueled by fear of the COVID-19 coronavirus.
A coronavirus stock market correction kicked in. The Dow Jones had its worst week in years. Microsoft, Mastercard warned. Disney CEO Bob Iger is out.
Plenty of economists say the U.S. economy was doing just fine before the outbreak, and many of them still see a limited impact on the U.S. If the Fed cuts rates, the market may get some unexpected juice for a quick recovery.
While there's a pressing need to prevent deaths now from the COVID-19 coronavirus, the new disease reveals a separate important long-term challenge of improving how we respond to outbreaks, billionaire philanthropist Bill Gates wrote in an editorial published Friday in the New England Journal of Medicine. The Microsoft (NASDAQ: MSFT) founder said Western governments and others should join the Gates Foundation in trying to help poorer developing countries with preparation and response - because those countries won't be able to slow the virus down.
Wall Street's main indexes were on track for their worst week since the 2008 global financial crisis on Friday as the selloff deepened on fears that the fast-spreading coronavirus could lead to a recession. The Dow Jones Industrials slumped more than 1,000 points in a volatile session and if the index closes below this level, it would be its fifth 1,000-point decline in history and the third this week. At 1:36 p.m. ET, the Dow Jones Industrial Average was down 493.38 points, or 1.91%, at 25,273.26 and the S&P 500 was down 41.04 points, or 1.38%, at 2,937.72.
The rising number of COVID-19 cases and deaths outside of China has led to cancellations of major events, including a two-week shutdown of Tokyo Disney, all gatherings in Switzerland of more than 1,000 people, and caused Facebook, Microsoft, and Workday to withdraw from or cancel events.
Wall Street plunged in a volatile trading session heading into the weekend, extending a steep selloff from last week as the fast-spreading coronavirus raised fears of a global recession. The three main stock indexes pared losses and the Nasdaq briefly turned positive on gains in technology stocks including Microsoft Corp and chipmakers Nvidia and Qualcomm.
Philanthropist Bill Gates on Friday urged wealthy nations to help low and middle-income countries strengthen their health systems in hopes of slowing the spread of the coronavirus, which Gates said has started to behave like a "once-in-a-century" pathogen. The novel coronavirus that first emerged in China and has now spread to 46 countries is much harder to stop than similar viruses that caused the Middle East Respiratory Syndrome (MERS) or Severe Acute Respiratory Syndrome (SARS), Gates wrote. The Bill and Melinda Gates Foundation has already pledged $100 million to fight the outbreak.
First discovered in Wuhan China, COVID-19, better known as the coronavirus, has become worldwide news in the wake of its outbreak. As of this writing, over 2,800 people have had deaths attributed to the coronavirus, the overwhelming majority of which have been in mainland China.
China is suffering a coronavirus epidemic. (Maybe you've heard about it?)At last report, 78,832 patients have been infected in China, and sad to say, COVID-19 hasn't been contained within China. In fact, 54 countries now report infections (up four from yesterday). South Korea has the most cases outside of China... and is where today's story begins.In a report just out from Mizuho Securities in Japan (coronavirus infections: 214), managing director Vijay Rakesh explains how COVID-19 concerns are spreading outside the China epicenter to South Korea, Taiwan, Italy, Iran, and Japan, and impacting normal functioning of the global supply chains in PCs, server/data center, handsets, and memory.Not all the news is bad. China's swift imposition of quarantines on upwards of 60 million of its citizens have slowed the disease's expansion in that country and, from Rakesh's perspective at least, "China is slowly returning to normal."But is it a new normal?Between official quarantines and citizens fearful of going out in public, Rakesh notes that China is seeing "strong" growth in "e-commerce" and also "online gaming." Apparently, people are using the former to get access to supplies without leaving their apartments, and using the latter to while away the time while the epidemic burns itself out. In the analyst's opinion, this is going to translate to strength in sales of graphics processing units (GPUs) manufactured by companies such as NVIDIA (NVDA) and Advanced Micro Devices (AMD), of PCs software sales by Microsoft (MSFT), as well as better revenues for online gaming companies such as Tencent (TCEHY).And all that makes sense. We just wouldn't extrapolate the short-term activities Chinese citizens are taking whilst "cocooning" and hiding from coronavirus into long-term trends -- or even necessarily a quarterly spike in sales for any of these companies. While the temptation may be strong to seek out a silver lining around the dark storm clouds looming over the market this week, make no mistake: The situation looks grim. And it's going to take a whole more than a few online take-out orders to justify the 60 P/E ratio at NVIDIA -- much less the 196 P/E ratio at AMD.The analyst's suggestion that Microsoft and Tencent might be worth a look, on the other hand, seems a little more sane at valuations of 33x and 32x earnings, respectively -- but even those two are not exactly "cheap."Meanwhile, next door in South Korea, Rakesh seems to think that things will get worse before they get better. He notes, for example, that Samsung recently temporarily closed its Gumi Galaxy Z handset factory, which could delay rolling out 5G-capable handsets to the masses. And Samsung won't be the only company affected."It is more difficult to control public movement [in a democracy like Korea] versus the central controlled quarantines in China," after all. For this reason, Rakesh is predicting "major disruptions" in supply chains tied to Korea in March.The situation could improve in the year's second quarter, and in the second half, "as OEMs play catchup to demand." In that longer-term timeframe, Rakesh is suggesting investors check out "cyclical auto and industrial names" such as NXP Semiconductors (NXPI) and ON Semiconductor (ON) to outperform.To find good ideas for semiconductor stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Millennials, who vouch for bitcoin democratization, also prefer the world's numero uno cryptocurrency as a form of investment to save for the future.
The Dow tumbled as the market correction intensifies. Tesla and Apple extended big Thursday losses overnight. Beyond Meat plunged on a surprise after-hours loss.
The Zacks Analyst Blog Highlights: Microsoft, Electronic Arts, Activision Blizzard, Take-Two Interactive Software and Nintendo