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The fast food industry is banding together to feed a nation of people quarantined due to the spreading of the coronavirus outbreak.

With a well-established delivery network and a food pizza that serves large families, Papa Johns CEO Rob Lynch says now is a key time for the industry.

I do think these are unique times, and it provides a lot of companies the opportunity to come together to really help the communities in which we live and serve, Lynch said on Yahoo Finances The First Trade.

Lynch continued, The industry is changing dramatically right now, where a lot of my peers that run dine-in restaurants are being asked to close their dining rooms and I feel really bad for them from a business standpoint. But from a community standpoint I feel its our responsibility that has more of a delivery model to pick up the slack and make sure the communities we live and work in have the food they need to get through this situation.

To be sure, quarantined Americans are relying heavily on fast food companies and third-party delivery services like Uber Eats right now.

A Papa John's pizzeria on South Rochester Road in Rochester Hills, Michigan.

Major fast-food chains such as Papa Johns, McDonalds, Burger King and Wendys are open for business (unlike most sit-down eateries) amidst the coronavirus outbreak even if its only takeout and delivery. The only question now is whether the industry could keep food flowing as supply chains are stressed with consumers panic buying products.

We are well positioned to continue to meet demand out there, Restaurant Brands CEO Jose Cil told Yahoo FinancesThe First Trade earlier this week, when asked if the fast-food player was running low on supplies. Cil, Lynch and other leading restaurant executives had a call Tuesday with President Trump and U.S. Treasury Secretary Steven Mnuchin where they discussed the challenges of the sector at the moment.

Cil said his companys vast supply-chain network that feeds thousands of Burger King, Popeyes and Tim Hortons restaurants globally is in tact. Other industry insiders have also told Yahoo Finance supplies continue to flow rather normally.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Papa John's CEO shares how the pizza chain is navigating the coronavirus pandemic - Yahoo Money

President Trump has taken pains over the past week to link the coronavirus outbreak to China, calling it the Chinese virus at daily briefings over objections that doing so unfairly stigmatizes an entire nation and might encourage hostility toward Asian-Americans.

On Wednesday, Trump was asked whether this practice was racist.

He calls the virus that, he said, because it comes from China. Its not racist at all, no, not at all. It comes from China, thats why. I want to be accurate, Trump replied.

While the Trump administration has been criticized for its response to the pandemic, especially delays in making tests available for the virus, Trump was correct that the virus originated in China, and that the Chinese government bears some responsibility for its spread by hiding and then minimizing the outbreak.

Trump also correctly pointed out that a Chinese government official tried to blame the U.S. for the outbreak.

The virus appears to have originated at Huanan live-animal market in Wuhan. Of the first 41 people infected with the virus, 27 had gone to the market, which sells and kills animals, some of them wild, for consumption, Vox reported. In 2002, officials traced the outbreak of the SARS virus to a market in southern China that also sold live, wild animals for food.

Chinas so-called wet markets arose in the 1970s, when famine killed millions there. In 1978, Chinas Communist government allowed private farming, and a decade later it legalized the private industry of raising and selling wildlife.

The unsanitary conditions of these markets and storage of animals in crates on top of one another has been blamed for the transmission of viruses between species. In the initial stages of the SARS outbreak, Chinese officials withheld information on the number of people infected and later conceded it was not well prepared for the epidemic.

A timeline of the coronavirus outbreak shows that an all-too-similar pattern has reemerged.

Story continues

Dec. 10, 2019: A 57-year-old seafood merchant at Huanan Market named Wei Guixian falls ill in what is believed to be the first case of COVID-19. Days later, he is hospitalized.

Dec. 30: After other food vendors at the market in Wuhan become sick with a mysterious pneumonia-like illness, Dr. Li Wenliang, an ophthalmologist at Wuhan Central Hospital, participates in a meeting on WeChat, a popular Chinese social media network, with seven other doctors. The topic of conversation is a growing number of cases in which patients undergo a rapid deterioration linked to respiratory failure. Wenliang warns that the illness resembles SARS, which went on to kill more than 800 people in 17 countries.

Dec. 31: The Chinese government publicly confirms that dozens of patients in Wuhan are being treated for a pneumonia-like condition.

Jan. 1, 2020: Wuhan police announce they have taken legal measures against Wenliang and the other doctors to silence them from spreading rumors about the virus.

Jan. 5: Health officials in China rule out the possibility that the virus is a recurrence of SARS.

Jan. 7: Chinese officials say they have identified the COVID-19 virus behind the growing number of infections.

Jan. 10: Chinese scientists post the sequenced DNA of the virus online.

Jan. 11: China announces first death due to COVID-19. The 61-year-old man had been a regular customer at Huanan Market.

Jan. 13: A case of the virus is reported in Thailand, the first outside of China.

Jan. 16: Japanese officials report their first case of COVID-19, a man who had visited Wuhan.

Jan. 19: China allows Wuhan to holda Chinese Lunar New Year banquet,which is attended by tens of thousands of families in Wuhan.

Jan. 20: The U.S. reports its first case of COVID-19, a 35-year-old man in Snohomish County, Wash., who had traveled with his family to Wuhan.

Jan. 22: With 17 reported deaths and 550 infections in China due to the virus, the government officially locks down Wuhan. By this time, the citys mayor admits, more than 5 million people have already left the region.

Feb. 6: Li Wenliang dies at a hospital in Wuhan.

Feb. 23: Chinese President Xi Jinping holds a teleconference with 170,000 officials and declares that his government has acted swiftly to stop the spread of the virus.

March 12: Chinese foreign ministry spokesman Zhao Lijian suggests that the virus was brought into China by members of the U.S. military. Be transparent! Zhao wrote on Twitter. Make public your data! US owe us an explanation!

March 17: Chinas Ministry of Foreign Affairs announces that it is expelling American journalists working for the New York Times, the Wall Street Journal and the Washington Post after the Trump administration limited the number of Chinese journalists who can work in the U.S.

March 18: For the first time since the outbreak began, Wuhan province reported no new cases of COVID-19. The outbreak that began in Wuhan infected 81,154 people in China, killing 3,249 so far. Globally, the number of cases and deaths continues to rise, with 222,499 infected and more than 9,800 deaths.

March 18: Chinese officials issue an apology to Wenliangs family and walk back criticism of the whistleblower. Li Wenliang was a Communist Party member, not a so-called antiestablishment figure, a party official said on state media.

_____

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It's the 'coronavirus,' not the 'Chinese virus,' but Trump is right: China made it worse - Yahoo News

I have to start with the elephant in the room. Were in a health crisis, a critical health crisis. Its an uncertain and scary time for all of us. No one knows when normalcy will be restored. We know whats really important; the health and well-being of our families, our communities, our country.

I have my share of anxiety about things, too. But I will openly admit, the two hours I spent with my industry friends last Thursday was therapeutic. I needed to laugh with friends, kid around, make fun of each other. We kept the Yahoo Friends & Family League draft on the books and threw down with 16 teams. Its 5x5 roto, with a limit of 80 transactions. There are also seasonal limits that surely wont apply now. No one knows what the eventual season will look like.

Lets hope for the best, and prepare for what we need to prepare for. Lets be good to each other. If you need some thoughts and guidelines about how to handle your Yahoo Fantasy Baseball experience this year, we have you covered. And if you want to examine how a deep industry draft went down, read on.

You can reach out to me anytime, to talk about sports, music, movies, dogs, life: @scott_pianowski.

Thanks for being a part of our group. Were all in this together.

1. (1) Mike Trout (LAA - OF)

2. (32) Mike Clevinger (Cle - SP)

3. (33) Ozzie Albies (Atl - 2B)

4. (64) Max Muncy (LAD - 1B,2B,3B)

5. (65) Frankie Montas (Oak - SP)

6. (96) Jeff McNeil (NYM - 2B,3B,OF)

7. (97) Liam Hendriks (Oak - RP)

8. (128) David Dahl (Col - OF)

9. (129) David Price (LAD - SP)

10. (160) Sean Doolittle (Was - RP)

11. (161) Kevin Newman (Pit - 2B,SS)

12. (192) J.D. Davis (NYM - 3B,OF)

13. (193) Wilson Ramos (NYM - C)

14. (224) Christian Walker (Ari - 1B)

15. (225) Garrett Richards (SD - SP)

16. (256) Shogo Akiyama (Cin - OF)

17. (257) Dylan Cease (CWS - SP)

18. (288) Randal Grichuk (Tor - OF)

19. (289) Matt Shoemaker (Tor - SP)

20. (320) Kevin Pillar (Bos - OF)

21. (321) Diego Castillo (TB - SP,RP)

22. (352) Asdrbal Cabrera (Was - 2B,3B)

23. (353) Yoshihisa Hirano (Sea - RP)

24. (384) Clint Frazier (NYY - OF)

25. (385) Sean Newcomb (Atl - SP,RP)

26. (416) Robinson Chirinos (Tex - C)

D.J. Short, Rotoworld: In a vacuum, Ronald Acuna, Jr. has been my top-ranked player in drafts this spring, but this league is so deep that it changes the calculus a bit. Theres more room for one-tricky pony speed options and dice rolls from the waiver wire, so the speed advantage that Acuna offers is something I can make up later. Trout has been so darn consistent that I wanted to start my draft with the ultimate sure thing.

Ive made it a point to target versatility in my drafts this spring and I was able to accomplish that here too. Max Muncy, Jeff McNeil, Kevin Newman, J.D. Davis, and Asdrubal Cabrera are all multi-position eligible. Im going to try to get as close to the maximum games played as I possibly can at each position, so this strategy gives me the flexibility needed to pull that off. And obviously it guards you against injury too.

Mike Clevinger has slipped a bit on draft boards this spring due to his knee surgery, but obviously all the concerns about that can be thrown out the window since its going to be a long time before baseball is played. Whenever games do begin, Clevinger could be a bargain. He was the 11th starting pitcher off the board in this draft.

1. (2) Ronald Acua Jr. (Atl - OF)

2. (31) Clayton Kershaw (LAD - SP)

3. (34) Gleyber Torres (NYY - 2B,SS)

4. (63) Jonathan Villar (Mia - 2B,SS)

5. (66) Jos Berros (Min - SP)

6. (95) Josh Bell (Pit - 1B)

7. (98) Marcus Semien (Oak - SS)

8. (127) Kyle Hendricks (ChC - SP)

9. (130) Max Kepler (Min - OF)

10. (159) Luke Voit (NYY - 1B)

11. (162) Robbie Ray (Ari - SP)

12. (191) Hunter Dozier (KC - 1B,3B,OF)

13. (194) Mike Foltynewicz (Atl - SP)

14. (223) Ian Happ (ChC - 2B,3B,OF)

15. (226) Dansby Swanson (Atl - SS)

16. (255) Eric Hosmer (SD - 1B)

17. (258) Mike Yastrzemski (SF - OF)

18. (287) Yadier Molina (StL - C)

19. (290) Jeff Samardzija (SF - SP)

20. (319) Mike Fiers (Oak - SP)

21. (322) Renato Nez (Bal - 1B,3B)

22. (351) Daniel Hudson (Was - RP)

23. (354) Blake Treinen (LAD - RP)

24. (383) Cameron Maybin (Det - OF)

25. (386) Aaron Bummer (CWS - RP)

26. (415) Brandon Belt (SF - 1B,OF)

Scott Pianowski, Yahoo: First off, I cant stand picking near the ends, especially in a league of this size (16 teams). You lose the feel of the draft. You cant play the Maybe I can wait a round on this guy game; its now or never for most players you want. Of course, you get two tandem picks, but I dont like the idea of having to wait 28 selections before I get another throw.

Maybe its a personal flaw, but I feel I draft better in the middle. Or maybe I could just invite weaker competition (I keep inviting people who make the league stronger).

I didnt intend to punt saves, but the flow of the draft took me there. This league has a transaction cap and active managers, so I cant assume Ill be the saves kingpin on the wire; Ill try to be, but this isnt some casual league where you can own the free market. But a saves punt feels easier in 2020, given save striation and the sneaky scarcity of the stat. I dont need that many things to go right before Im back in the middle of the saves pack; maybe a trade, maybe a lucky late pick, maybe a wire add. And inside the draft, the punt was oddly liberating.

I knew Id be priced out of the top-shelf pitching given my slot, but I proactively filled that area and came away with a staff I can live with. The offense is versatile, flexible. Sometimes I tend to draft older teams, but I like the balance of the ages here. I should be able to compete, which is all you can ask for, this removed from opening pitch.

I should also add, in complete seriousness: I thought Salfino got a good price on Mallex Smith.

1. (3) Christian Yelich (Mil - OF)

2. (30) Javier Bez (ChC - SS)

3. (35) Luis Castillo (Cin - SP)

4. (62) Noah Syndergaard (NYM - SP)

5. (67) Josh Hader (Mil - RP)

6. (94) Matt Chapman (Oak - 3B)

7. (99) Mike Moustakas (Cin - 2B,3B)

8. (126) Cavan Biggio (Tor - 2B,OF)

9. (131) Yasmani Grandal (CWS - C,1B)

10. (158) Byron Buxton (Min - OF)

11. (163) Justin Turner (LAD - 3B)

12. (190) Edwin Encarnacin (CWS - 1B)

13. (195) Joe Musgrove (Pit - SP)

14. (222) A.J. Puk (Oak - RP)

15. (227) Nomar Mazara (CWS - OF)

16. (254) Anthony DeSclafani (Cin - SP)

17. (259) Corey Dickerson (Mia - OF)

18. (286) Ryan Helsley (StL - RP)

19. (291) Teoscar Hernndez (Tor - OF)

20. (318) Johnny Cueto (SF - SP)

21. (323) Robinson Can (NYM - 2B)

22. (350) Cole Hamels (Atl - SP)

23. (355) Jorge Mateo (Oak - SS)

24. (382) Spencer Howard (Phi - SP)

25. (387) Kevin Kiermaier (TB - OF)

26. (414) Daniel Ponce de Leon (StL - SP,RP)

Scott Jenstad, Rotowire: In a daily moves league, I am a little less worried about the back half of my starting pitching staff as I consider those likely churn-and-burn spots anyway. I wanted to get two really good starters but then focus on compiling as much offense as I can early on.

I think my offense is really good considering the league has 16 teams, but I pushed the third and fourth starters one turn too far and got burned in this deep a league. I like Joe Musgrove and AJ Puk just fine, but not when they are among your top four starters. Looking back, I should have passed on Grandal in a one-catcher league (he was deep enough in the draft where I liked the pick) and taken another starting pitcher there and the roster would look better.

I do think the offense will be near the top of the league and it is a trading league; Im going to have to trade or find a couple SP gems on the wire to have a shot at winning the league.

1. (4) Mookie Betts (LAD - OF)

2. (29) Shane Bieber (Cle - SP)

3. (36) Kris Bryant (ChC - 3B,OF)

4. (61) Aaron Nola (Phi - SP)

5. (68) J.T. Realmuto (Phi - C)

6. (93) Sonny Gray (Cin - SP)

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Reviewing the 2020 Yahoo Friends and Family Fantasy Baseball Draft - Yahoo Sports

A 59-year-old man who died after testing positive for coronavirus has been named as a former police officer.

Nick Matthews, from Nailsea, Somerset, died in the early hours of Saturday at Bristol Royal Infirmary, his wife Mary wrote on Facebook.

She told the website Nailsea People that her husband had been taken into hospital with breathing difficulties on Thursday.

The 59-year-old retired from his work as a police officer 10 years ago after suffering a heart attack.

His death came as the UK death toll hit 35 after another 14 people lost their lives in just 24 hours.

Nailsea People reported that Matthews was diagnosed with pneumonia at the Bristol Royal Infirmary and was admitted to intensive care after showing other signs for coronavirus.

In a Facebook post on Saturday, his wife wrote: Today at 3am I lost my life partner and soul mate but most of all my best friend.

Charlotte, Ben and I are beyond proud to have had such a big character in our lives. As a family we are still currently in isolation until the coronavirus test results come back.

Live: Follow all the latest updates from the UK and around the world

Fact-checker: The number of Covid-19 cases in your local area

Explained: Symptoms, latest advice and how it compares to the flu

She went on: Someone will post again when we have more information. In the meantime, I know some of you would like to visit, but please for you and your families safety, stay away until we get the all clear.

She later added that the test had come back positive and urged those who had been in contact with the family to self-isolate and seek advice.

Mary Matthews paid tribute to husband Nick via Facebook. (Picture: Facebook)

People who may have come into contact with either Nick or me during the past two weeks need to self-isolate and get advice, she said.

Although he tested positive, until a post-mortem examination, we cant say that was cause of death at the moment. I dont want to panic people, but I do want people to take extra precautions.

The couple had returned from a weeks holiday in Fuerteventura on February 29.

In a statement, University Hospitals Bristol NHS Foundation Trust said: Sadly, we can confirm that a man who was being cared for at the Bristol Royal Infirmary, and had tested positive for Covid-19, has died.

The patient who died was in his late-fifties and had underlying health conditions.

The family has been informed and our thoughts are with them at this difficult time. We will not be commenting further and ask that everybody respects the familys privacy.

Nick Matthews was admitted to Bristol Royal Infirmary on Thursday with breathing difficulties. (Picture: Matt Cardy/Getty Images)

Councillor Don Davies, the leader of North Somerset Council, said the authoritys heartfelt condolences were with the family and all that knew him.

I understand that the family have requested privacy at this difficult time and I ask that everyone respects their wishes, Cllr Davies said.

I am sure the news will be met with sadness in the wider community and it is important that everyone remains calm and follows the latest national advice on the steps needed to reduce the spread of infection.

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Coronavirus: Ex-police officer named as 59-year-old who died after testing positive for virus - Yahoo News UK

And how is Warren Buffett faring during the coronavirus? Thankfully, like most of us hes coping for now.

Im doing great, he told me on Tuesday in Berkshire Hathaways offices in Omaha, which would be entirely consistent with what Buffett almost always says when I ask him how hes doing. (Never better, is another typical rejoinder.)

I was in Nebraska to interview Buffett as, among other things, he prepares for the Berkshire Hathaway annual meeting on May 2which he announced on Friday will be greatly scaled down this year. It was a decision Buffett had been mulling for a while, but by this Thursday it became apparent that holding a meeting with tens of thousands of people would be unwise, never mind untenable given potential health advisories prohibiting large gatherings. Buffett told me on a call later in the week that it made him sad, but it was the responsible thing to do.

I have a fair amount of history with Buffetthaving first met him some 30 years agoand have been fortunate enough to speak with him numerous times over the years. People always ask me what hes like. First of all, and this may be blindingly obviousthere really is no one else like him on the planet. He truly is an American original.

[See Also: Warren Buffett reacts to the stock market rout and oil crash]

Buffett is fun and fun-loving, genuinely warm and happyand even charming in a folksy kind of way. Hes also the smartest person youll ever meet, and that makes it disarming because at first you might think hes just a hokey grandpa type (which he is), until he starts waxing on about some esoteric insurance product.

Obviously Buffetts perspective on recent events is invaluable. I told you many years ago, if you stick around long enough, you'll see everything in markets, Buffett begins with a chuckle. And it may have taken me to 89 years of age to throw this one into the experience. His tone soon turned more serious though: This is a terrible event that's occurring, he said. We don't know how terrible. It may not turn out to be that big a deal when we get through, but it may turn out to be a very big deal, and we just don't know.

I asked him to elaborate.

ANDY SERWER: How concerned are you about the coronavirus situation, Warren?

WARREN BUFFETT: Well, you've got to defer to the doctors on that, but you know...it is a pandemic. I don't know exactly what the dictionary definition is, but when you have something that's in China, and Korea, and Italy, and Iran I mean, it would meet my definition of a pandemic. No one knows the duration, or dimensions of it now. You can't know at this point. And what you do know is that the dimensions have changed since a few months ago, and haven't changed in terms of the possible worst case, but the best case is moving over in that it's spread. And, you know, Italy's a good example. I mean, it has really spread. So we've got something that we don't know how long it will be with us. We don't know how severe it'll be. But there will be uncertainty about that for a considerable period of time. There has to be.

[See Also: Warren Buffett: I wont be selling airline stocks]

We went on to talk about stocks, the price of oil, interest rates, banks, airlines and nearly everything else under the sun in the world of business for the better part of an hour.

But I still wanted to ask him a bit more about the coronavirus. What precautions is he taking right now so as not to catch the disease? Has he changed any of his habits or behavior?

Well, I'm drinking a little more Coca-Cola, actually. That seems to ward off everything else in life, he joked.

Warren Buffett, chairman and CEO of Berkshire Hathaway, drinks Cherry Coke while playing bridge outside Berkshire-owned Borsheims jewelry store in Omaha, Neb., Sunday, May 6, 2018. On Saturday, tens of thousands of Berkshire Hathaway shareholders attended the annual Berkshire Hathaway shareholders meeting. (AP Photo/Nati Harnik)

And he continued as he did so, he said something that may be of keen interest to Berkshire shareholders:

Story continues

I'm 89. I just had two different doctors tell me I'm in much better shape than I was a few years ago. I'm not sure what I'm doing to get in better shape. I had an annual heart check where I wear something around my waist [and] the guys said my it's never been better. (Theres that never been better line again.)

In terms of changing my life, I haven't really changed a lot. But I could work at home easily, and so could people in the office.

Has he considered working from home?

Well, not yet, no, no. But my doctor does tell me, don't do a lot of traveling into big crowds, and everything. But I have one trip scheduled now, and I'm not changing it.

OK Warren, hope your trip goes well.

[See Also: Warren Buffett: People arent driving as much amid the coronavirus outbreak]

Obviously though, the big takeaway here is that Buffett says doctors tell him: I'm in much better shape than I was a few years ago.

Barrons recently ran a piece suggesting that given Berkshires stock market underperformance as of late, the company might be better off without Buffett. CNBCs Becky Quick recently asked him about this, and Buffett essentially said that he hopes the company does better and better after hes gone. (Perhaps like Apple after Steve Jobs has done under Tim Cook.) Of course we have no idea how Berkshire will fare when Buffetts no longer in the picture. At the very least, Berkshire after Buffett wont be the same. And I think its safe to say that America without Buffett wont be the same either.

So, Barrons article aside, hearing that Buffetts in much better shape than he was a few years ago, is good news as far as Im concerned.

This article was featured in a Saturday edition of the Morning Brief on March 14, 2020. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.Subscribe

Andy Serwer is editor-in-chief of Yahoo Finance. Follow him on Twitter:@serwer.

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Here's what Warren Buffett's doctors just told him about his health - Yahoo Finance

Nike (NKE) announced on Sunday that it will close all its Nike-owned stores in multiple countries around the world, including in the United States, Canada, Western Europe, Australia, and New Zealand from March 16 through March 27 to limit the spread of COVID-19.

The Oregon-based sportswear giant said in a statement that customers will still be able to shop on Nike.com and the Nike app.

We are taking additional steps in other Nike-managed facilities, including the option to work from home, staggered work schedules, social distancing, and additional safety and cleaning steps to help protect and support our teammates, the statement reads.

A Nike source tells Yahoo Finance that Nike store employees will continue to be paid during the closures.

Not all Nike stores in the world are close: Nikes company-owned stores in South Korea, Japan, most of China, and in some other countries are now open and will continue their normal hours of operations.

SHANGHAI, CHINA - 2019/09/07: Pedestrians walk past an American multinational sportswear corporation Nike store in Shanghai. (Photo by Alex Tai/SOPA Images/LightRocket via Getty Images)

There will be a temporary hit to sales, although some of it will transfer to Nike.com, Matt Powell, vice president and senior industry advisor at NPD Group, tells Yahoo Finance.Powell also tweeted that Nikes move is the right thing to do and predicted that other retail chains will follow suit.

Along with Nike, all the sports apparel giants are projecting a major hit from coronavirus. Adidas on Wednesday warned of a $1 billion hit to its China sales in Q1, a far bigger hit than it previously given.

Susquehanna Financial Group analyst Sam Poser recently told Yahoo Finance that Nike is still well-positioned to weather the economic effects of the coronavirus far better than its competitors.

Its one of the best companies out there, Poser said, and its got a balance sheet thats ridiculously good.

Follow the news here.

Daniel Roberts is an editor-at-large at Yahoo Finance who focuses on sports business. Follow him on Twitter at @readDanwrite.

Reggie Wade is a writer at Yahoo Finance who focuses on the sneaker business. Follow him on Twitter at@ReggieWade.

Read more from Yahoo Finance about coronavirus and sports:

Coronavirus hits sports: March Madness canceled; NBA, MLS, NHL seasons suspended

Coronavirus is stoking fears of Tokyo Olympics cancellation

Nike warns coronavirus will have material impact on its China business

HSBC downgrades Nike on coronavirus fears

Under Armour warns of coronavirus impact in China, analyst says it has peaked in America

Read more:

Nike is closing all its U.S. stores in response to coronavirus - Yahoo Finance

A word of caution after a violent week on Wall Street: Stocks tend to rally hard during bear markets like we are in currently.

So proceed with both eyes open even if it appears a bottom has formed, experts say.

I think too much damage has been done [to the market]. I think rallies for now should be viewed as potential selling opportunities, unless the government comes out with something so inspiring that it really changes that dynamic, Sevens Report Research founder Tom Essaye said on Yahoo Finances The First Trade.

Essaye couldnt have put it any better.

The Dow Jones Industrial Average exploded 1,110 points in pre-market trading Friday then gave back half of those gains by 10:00 a.m. ET on optimism regarding a U.S. fiscal stimulus plan to combat the aftershock of the coronavirus. Further firming up investor sentiment was fresh stimulus action from the European Central Bank on Thursday and from the German government Friday.

But to Essayes point, this is a damaged market staring the barrel of months of brutal economic data and profit warnings from Corporate America. Just consider how damaged in fact the market is at this juncture.

A board above the trading floor of the New York Stock Exchange shows the closing Dow Jones Industrial Average number, Thursday, March 12, 2020. The stock market had its biggest drop since the Black Monday crash of 1987 as fears of economic fallout from the coronavirus crisis deepened. The Dow industrials plunged more than 2,300 points, or 10%. The vast majority of people recover from the new coronavirus. According to the World Health Organization, most people recover in about two to six weeks, depending on the severity of the illness. (AP Photo/Richard Drew)

The Dow has plunged more than 4,000 points this week. Both the Dow and S&P 500 are in bear markets, pressured in the last five sessions by the likes of Disney shutting domestic parks and Gap warning of a $100 million first quarter sales hit from coronavirus. The coronavirus-rolling financial crisis has rolled right into corporate boardrooms.

The S&P 500 has seen daily average daily swings of 5.7% in the past five sessions, according to Bloomberg data. The CBOE Volatility Index aka Wall Streets fear gauge spiked to a record this week. There hasnt been two back-to-back up days for the S&P 500 in a month.

Meanwhile, most key international equity indices are in a bear market. And to top it all off, coronavirus infection cases in the U.S. and Europe remain on the rise.

Says Essaye, We have got to remember the economic fallout of this is just starting. Jobless claims last week were incredibly good. I doubt that will happen next week. Were at the beginning of the economic fallout of this. Our main hope is that it is short. If this is wrapped up by April or May, this economy can recover relatively quickly. If it goes beyond that we have got a bigger problem.

Looking for a positive amidst the carnage? Essaye is bullish on Apple stock because of its strong brand and cash flow.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Coronavirus has damaged the stock market and the bears are hungry - Yahoo Finance

California Gov. Gavin Newsom (D) issued an executive order on Thursday addressing the coronavirus pandemic, saying his goal is to "fully implement these procedures and protocols to slow down the spread, to get through a peak, and to get through the next few months, so we don't overwhelm our health care delivery system."

His executive order allows the state to take over hotels and medical facilities if necessary to treat coronavirus patients, and also gives government officials the ability to hold private teleconferences without violating open meeting laws.

In California, 198 people have tested positive for the COVID-19 coronavirus, Newsom said, a 10 percent increase from Wednesday. Earlier in the day, he called for the statewide cancellation of all gatherings of 250 or more people.

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California governor issues order allowing state to commandeer hotels if needed to treat coronavirus patients - Yahoo News

The coronavirus pandemic has the entertainment industry at a standstill.

Disney (DIS) will reportedly halt the production of all live-action films and shows, according to CNBC. This comes after the media giant officially postponed the global release date of its live-action Mulan remake.

Paramounts A Quiet Place: Part II, along with other blockbusters like Fast and Furious 9, No Time to Die and The New Mutants also postponed release dates, as the pandemic continues to infect hundreds of thousands worldwide.

Blockbusters delayed due to coronavirus

China has shut down nearly 70,000 movie theaters, with no plans to re-open until at least April.

Overall, the global box office is expected to take a possible$5 billionhit due to theshift in production schedulesand theater closures, amid what JPMorgan Chase analysts called a softness in recent weeks in movie box office receipts.

The firm noted that weekend box office numbers were down about 20% from recent trends suggesting a 40% dip for the full week compared to the same period last year.

Meanwhile, Tom Hanks, along with his wife Rita Wilson tested positive for the coronavirus in Australia where Hanks is currently filming the new Elvis Presley biopic. The couple is currently in quarantine.

The outbreak has even crept into television from reality TV to late night comedy.

Late Night with Seth Meyers, The Tonight Show Starring Jimmy Fallon and The Late Show With Stephen Colbert all announced they will suspend production for two weeks as NYC works to contain the outbreak.

Late night shows go dark for two weeks amid coronavirus pandemic

Meanwhile, production has been halted for the popular CW series Riverdale after a crew member tested positive for COVID-19.

Other disruptions include CBS announcing that Survivor will begin filming in May rather than this month, while Apple TV+s The Morning Show took a two-week break from filming as a precautionary measure to assess the situation.

And The Big Apple officially shut down Broadway on Thursday night shuttering its doors through April 12th. The news comes after a volunteer usher tested positive for the coronavirus at two theater locations in Manhattan.

The decision threatens the existence of smaller productions that rely on international tourism and ticket revenue to survive. The New York Post reported that even Phantom of the Opera the longest-running show on Broadway could potentially shut down forever as a result of the closures.

Phantom of the Opera at risk to shut down as Broadway goes dark

Prior to the announcement, JPMorgan Chase analysts revealed that ticket sales were already down 10% compared to their average prices in recent years.

Alexandra Canal is a Producer at Yahoo Finance. Follow her on Twitter@alliecanal8193

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Coronavirus is costing Hollywood, TV and Broadway billions of dollars - Yahoo Finance

The coronavirus outbreak has forced many U.S. schools to move to close campuses and shift to online instruction. Universities and colleges across the nation are turning to tools like Zoom (ZM), Instructures (INST) Canvas, Cisco Systems (CSCO) WebEx and other platforms as online instruction becomes the new normal.

Technology and education professor at Teachers College at Columbia University, Dr. Lalitha Vasudevan, is one of the many educators who has made the switch to online coursework in the wake of the coronavirus outbreak. Vasudevan joined Yahoo Finance to discuss how the move to online instruction might play out.

Its not going to be smooth. And I think a lot of people are recognizing that what we need to do right now, first and foremost, is recognize that this bumpy time that were in is going to be bumpy for a while, she said.

I think universities are doing a really good job, or theyre trying to, communicating ... the need for really open communication that needs to be really clear about what is expected, what resources are available.

Vasudevan is also encouraged about the amount of peer resource sharing she is seeing within the academic community. However, Vasudevan points out that there are still many students who lack the resources to fully participate in online education.

I think thats the thing thats coming up, that a lot of people are coming up against. How do we continue to maintain quality of instruction while still attending to the many ways in which our students might be limited in the way that they can access the kinds of instruction that were able to offer, she said.

Vasudevan believes that the first steps schools should take is to make sure that the approach is simplicity over sophistication.

This is a reminder that what we need to do in this first hurdle is to just stay connected, to be clear and communicative with our students, with our colleagues, our institutions, and to do what we can to be supportive.

Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at@ReggieWade.

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'It's not going to be smooth:' Professor on shift to online learning amid coronavirus - Yahoo Finance