Just shy of 20% of S&P 500 companies have warned about coronavirus effects, according to analysis of more than 180 earnings transcripts and other releases.
A pedestrian wearing a protective mask walks past a closed Apple Inc. store in Shanghai, China, on Wednesday, Feb. 5, 2020.Nearly one in five S&P 500 companies have said China's virulent coronavirus will impact their revenues or profits, underscoring the far-reaching toll the disease is expected to take on businesses around the world.
"Although it is difficult to anticipate the full impact of the coronavirus on our business, we expect the next couple of months will be very challenging," said Estee Lauder CEO Fabrizio Freda. "Chinese consumers in many big cities are staying home and retailers are closing stores or limiting hours in an effort to help contain the spread of the virus."
Others, like Apple, said that they've issued broader-than-usual revenue ranges for the first quarter to account for the potential impact.
bullish
other 80 are stupid not to
Stocks don't care. Record all time highs.