Starbucks Closes More than Half of its China Stores due to Coronavirus:
4,100 stores are now inactive in its second largest market.
Starbucks still beat earnings expectations for the quarter.
https://t.co/r9HwaIunV9
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While Comcast's earnings beat expectations, their NBCUniversal division saw revenue fall 2.6% and profit fall 4.7%.
This is largely due to the movie 'Cats,' which grossed only $87mil of its $95mil budget. The budget does not include ads or reshoots.
https://t.co/fYzJUfccp6
Second Case of Coronavirus Confirmed in Chicago:
The death toll has risen to 26. Travel bans predicted to have major impact on Chinese economy with 1% or more speculated GDP loss.
Markets bolstered by major earnings calls, but losing early gains.
https://t.co/wXjBVjmB6d
InterContinental Hotels Group $IHG stock cited as good predictor for severity of coronavirus outbreak.
This assertion is based on the dip in the hotel chain's stock in 2003 during the SARS outbreak when investors sold off IHG en masse.
https://t.co/WR9t8qYOy9
Update from yesterday: China has quarantined the city of Wuhan. Estimated cases up to 4,000 from previous 570 acknowledged last Thursday.
$IHG 5 Day Graph below
https://t.co/wgMkdcfRqT
India is Trying to Crack Down on 'Shadow Banking':
Shadow lenders (aka non-bank financial companies/NBFCs) give long-term loans to companies by taking short-term loans from banks/mutual funds.
Failure of large NBFCs deemed as damaging as bank collapse.
https://t.co/HIdc5gCuI5
Chinese mining company ArtGo ($HKG3313) was down 98% yesterday after failing to meet MSCI listing standards.
The stock rallied 3,800% since the beginning of 2019.
On Wednesday the stock price was $14.80 at market close. It closed at $0.28 on Friday.
https://t.co/rKe3naMXWt