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There are 75,203 confirmed cases of COVID-19, the coronavirus first identified in December in Wuhan, China, and 2,009 deaths, according to the most recent figures from the World Health Organization.
Most of the cases and deaths are in China. In the U.S., there are 15 cases.
The largest cluster of cases outside of China is the Diamond Princess cruise ship, part of Carnival Corp. CCL, +0.36%, currently docked in Yokohama, Japan. The Guardian on Wednesday reported that there are now 621 confirmed cases of the virus among passengers and crew on the ship.
There are 100 U.S. citizens on the ship or in Japanese hospitals. The Centers for Disease Control and Prevention (CDC) said Tuesday that they must now undergo a 14-day quarantine after leaving the Diamond Princess and before they can return to the U.S. “Because of their high-risk exposure, there may be additional confirmed cases of COVID-19 among the remaining passengers on board the Diamond Princess,” the CDC said in a statement.
• Medtronic PLC MDT, +1.01% told investors that there are closures and slowdowns in factory production of its products as well as a delay in medical device procedures in China as the Chinese health care system focuses on containing the virus. “We do expect this to have a negative impact on our fourth-quarter financial results,” CEO Omar Ishrak told investors, later adding: “Even now, even in places like Beijing and others, procedures are only just beginning.” China makes up 7% of Medtronic’s global business.
• Walmart Inc. WMT, -0.57% on Tuesday told investors it anticipates a financial impact in the first quarter and potentially the second quarter to its China business as a result of COVID-19. “Due to the current sales mix slanted heavily toward food and consumables, as well as some increased expenses related to the outbreak, we could see a couple of cents negative impact in Q1,” Walmart CFO Brett Biggs said on an earnings call. While many retailers have had to close some of their stores in China, Walmart said all of its stores are open, although the majority have restricted hours and some limited operations.
• Agilent Techonologies Inc. A, +0.84% expects earnings of 72 cents to 76 cents a share on revenue of $1.28 billion to $1.32 billion “after factoring in the potential impact” of the coronavirus. The lab instruments maker anticipates a $25 million to $50 million hit in the first half as a result of the virus; a $10 million loss in revenue in the first quarter and an estimated $15 million to $40 million impact in the second quarter. “Our performance was impacted by the extension of the Lunar New Year holiday due to the coronavirus,” CFO Robert McMahon said. “This reduced the number of shipping days in China.”
• Analog Devices Inc. ADI, +5.33% updated its guidance for second-quarter revenue of $1.35 billion, plus or minus $50 million. “While the effects of the coronavirus are difficult to estimate and the situation remains dynamic, we have reduced our revenue guidance by $70 million to account for its potential impact,” the company said in a statement.
• Mondelēz Inc. MDLZ, -0.34% told investors to expect “an impact on both revenue and margins” as China is a high-margin business for the snacks maker. It is also reporting additional transportation costs as a result of a shortage of trucks in China. “I’m quite comfortable saying that there is nothing that taints really the full year at this point in time for us, pending maybe a bigger impact of the coronavirus, which quite frankly we don’t see at this point,” CFO Luca Zaramella told investors.
Additional reporting by Ciara Linnane and Wallace Witkowski
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