“To say the world has completely changed over the last 1-2 months in the wake of the COVID-19 pandemic is an understatement,” says Goldman Sachs’ Bonnie Herzog in a recent note to clients. It is impossible to disagree. Wall Street has been grappling with the implications, as stock prices and valuations have tumbled due to the increased uncertainty in the face of COVID-19’s long term impact.Herzog has been assessing the current health of the beverage and tobacco sector, and in addition to the “unprecedented uncertainty” regarding the broader economy, is worried of other possible developments.“We are also concerned about the ripple effect on broader consumer demand as concerns about health considerations & social distancing give way to the long-term effects on the job market, wages, consumer behavior & consumer spending,” Herzog said.Having said that, the analyst identifies a number of names in the beverage sector that are well setup to outperform...
Matt Orton, Portfolio Strategist at Carillon Tower Advisers, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Heidi Chung to discuss how the markets are being impacted by the coronavirus outbreak....
Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Dan Howley discuss Apple’s decision to produce face shields to help fight the coronavirus pandemic....
Vir's shares jumped 35% before the bell, while GSK was up about 1%. Drugmakers across the globe are rushing to develop a treatment or vaccine for the fast-spreading coronavirus that has killed over 68,400 people globally. There are currently no approved treatments for the disease....
Brokerage Credit Suisse downgraded Zoom Video Communications Inc's stock to "underperform" from "neutral". "While implied new customer growth may seem undemanding compared to recently disclosed 20x participant growth, we expect much of the recent surge will prove ephemeral, and/or comes from free users or education, which are very difficult to monetize," Credit Suisse analysts wrote in a note. Last week, at least two U.S. state attorneys had sought information from Zoom following multiple reports that questioned its privacy and security....
